Business Taxes

An expat intending to do business after having arrived in Melbourne needs to have a basic understanding of the business taxes which may apply.

Business taxes are administered and paid mainly to the Australian Taxation Office.

Tax rates for businesses vary depending on factors such as the business entity structure, Australian small business offsets and concessions.

The primary business taxes are income tax, capital gains tax and goods and services tax.

Income taxes are paid by individual and companies. Small companies are required to pay tax at a rate is 27.5% and individuals pay taxes on their business based on their marginal tax rates. Understanding the right structure required by your business will ensure that you pay the appropriate amount of tax.

Goods and services tax (GST) is a consumer tax. Most businesses need to register for GST and charge GST for their goods and services. Businesses which have paid for business supplies inclusive of GST claim an “input tax credit”.

Capital gains tax is a tax on gains made due to the disposal of assets owned by the business. Foreign corporations may be subject to capital gains tax on assets acquired and used to carry on business in Australia.

Other business taxes which may apply are land tax, fringe benefits tax and payroll tax.

An expat may find the need for professional and specialist expertise and advice from a qualified tax advisor or specialist accountant when seeking to establish a business in Melbourne. Our E-Team member are highly regarded accountants and tax advisors in Melbourne versed in both local and international tax and will be able to guide any expat planning to setup a business.

Kingston & Knight Accountants

Kingston & Knight Accountants is the top choice in Accounting, Taxation, and Business Firm services in Melbourne.

They provide expert service for reasonable rates driven by their commitment to delivering effective and uncompromising high-quality results and continuous passion for excellence.

To know more about Kingston & Knight Accountants, please see contact details below:

Contact Person: Jason Zhang


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