Business taxes are an important consideration for an expat moving to Sydney who intends to do business.
Australian tax rates for business vary, depending on such factors as the business entity structure, Australian small business offsets and concessions.
The main business taxes in Australia are Australian Company Tax, Capital Gains tax, Goods and Services tax. Those who operate a small business as a sole trader will be tax using personal income tax rates.
Company tax in Australia is a tax on Australian resident corporations. The rate may vary depending on the company structure or the industry in which the company is engaged.
The Goods and services tax (GST) in Australia is a consumer tax on goods and services consumed. Most Australian businesses are required to register for GST with the Australian Taxation Office. Businesses which have paid for business supplies inclusive of GST are allowed to claim an “input tax credit”.
Capital gains tax in Australia is a tax on gains made due to the disposal of certain business assets. Foreign corporations may be subject to capital gains tax on assets acquired and used to carry on business in Australia.
There may be other business taxes in Australia which may apply, such as land tax, fringe benefits tax and payroll tax. It is important that an expat moving to Sydney and seeking to do business engage a Sydney qualified tax advisor or a specialist accountant. Our E-Team member are highly regarded accountants and tax advisors in Sydney versed in both local and international tax and will be able to guide any expat planning to setup a business in Sydney.
CST Tax Advisors
We are the Australian member firm of the CST International network. We deliver specialist tax advice and chartered accounting services to Global Executives, Global Founders, Global Families and Global Middle Market Companies.
Whether you are a Global Executive moving overseas or returning home to Australia, a Global Founder expanding your business or a Middle Market Company expanding internationally – our team of tax specialists and Chartered Accountants have the expertise to ensure you receive the right advice.
Contact Person: Geraldine Chapman
Contact Number: 02 8920 0077