A-C
Australian business number (ABN) - businesses
The Australian Business Number (ABN) is a single identifier for all business dealings with the tax office and for dealings with other government departments and agencies.
Australian business number (ABN) - non-profits
Your Australian business number (ABN) is a single identifier that is used to register for various taxes and concessions.
Australian business number (ABN) - government
The Australian Business Number (ABN) is a single identifier for all business dealings with the tax office and for dealings with other government departments and agencies.
Annual investment income reporting
Information for Australian businesses paying investment income to Australian and non-resident investors.
Business activity statement (BAS) - businesses
Businesses use an activity statement to report and pay tax obligations including PAYG, FBT and GST, and to pay deferred company and superannuation fund instalments.
Business activity statement (BAS) - non-profits
Businesses use an activity statement to report and pay tax obligations including PAYG, FBT and GST, and to pay deferred company and superannuation fund instalments.
Business tax breaks
The small business and general business tax break provides an additional tax deduction for expenditure on certain qualifying assets. It provides a bonus deduction of 50% for small business and 30% or 10% for all other businesses providing certain eligibility criteria are met.
Capital allowances
Capital allowance measures contain the rules for calculating the decline in value of depreciating assets. New provisions operate from 1 July 2001 and apply to depreciating assets acquired both before and after that date. The new provisions consolidate a range of former capital allowance measures.
Capital gains tax (CGT) - individuals
Capital gains tax applies if you make a capital gain (or profit) as a result of selling (or otherwise disposing of) certain assets.
Capital gains tax (CGT) - businesses
Capital gains tax (CGT) is a tax charged on capital gains that arise as a result of the sale or disposal of assets (such as investment property and shares) acquired after 19 September 1985.
Company tax and imputation
Detailed information including the Franking Credit and Rebate Yields.
Consolidation
The Commonwealth Government introduced consolidation to reduce compliance costs for business, remove impediments to the most efficient business structures and improve the integrity of the tax system. Consolidation allows wholly-owned corporate groups to operate as a single entity for income tax purposes from 1 July 2002.
Debt and equity tests
The New Business Tax System (Debt and Equity) Act 2001 determines what is equity in a company and what is debt in an entity for tax purposes with effect from 1 July 2001.
Declarable income - individuals
Information on this page will help you determine if you should declare the income you receive in your tax return.
Deductible gift recipient - non-profits
A deductible gift recipient (DGR) is a fund or organisation that can receive tax deductible gifts.
Deductible gift recipient - government
Information on the types of deductible gift recipients, tax deductible gifts they can receive, and what donors need to do to claim deductions for gifts.
Deductions - individuals
Information on this page will help you identify what you can claim to reduce your taxable income.
Deductions - businesses
Deductions for costs incurred in running your business are allowable, provided the expenses are not of a private, domestic or capital nature.
Demergers
A demerger is a form of restructure in which investors in the head entity (for example, shareholders or unitholders) gain direct ownership in an entity that they formerly owned indirectly (the ‘demerged entity’). Underlying ownership of the companies and/or trusts that formed part of the group does not change. The company or trust that ceases to own the entity is known as the ‘demerging entity’.
Division 7A
Division 7A may apply to private companies that make tax-free distributions to shareholders or shareholders' associates in the form of payments, loans or debts forgiven.
Excise - businesses
Excise duty is a tax levied on alcohol, tobacco and petroleum products manufactured in Australia.
Excise - government
Excise duty is a tax levied on alcohol, tobacco and petroleum products manufactured in Australia.
Foreign exchange
Foreign exchange (forex) measures bring to account foreign currency gains and losses as assessable income or allowable deductions, on a realisation basis, to the extent such gains or losses are attributable to a fluctuation in a currency exchange rate, or to an agreed exchange rate differing from an actual exchange rate. The measures apply to all taxpayers, except for, broadly, banks and similar financial institutions.
Franking credits - non-profits
Eligibility requirements for refunds of franking credits. Franked dividends received by income tax exempt charities and deductible gift recipients are generally refundable.
Fringe benefits tax - individuals
Provides information on reportable fringe benefits and salary packaging.
Fringe benefits tax - businesses
Fringe benefits tax (FBT) is paid on certain benefits employers provide to their employees or their employees' associates in place of salary or wages.
Fringe benefits tax - government
Fringe benefits tax (FBT) is paid on certain benefits employers provide to their employees or their employees’ associates in place of salary or wages.
Fringe benefits tax - non-profits
Fringe benefits tax is payable by employers who provide fringe benefits to their employees or associates of their employees. Concessions apply to certain non-profit organisations.
Fuel schemes - businesses
Fuel schemes provide credits and grants to reduce the costs of some fuels or to provide a benefit to encourage the recycling of waste oils.
Fuel schemes - government
Fuel schemes provide credits and grants to reduce the costs of some fuels or to provide a benefit to encourage the recycling of waste oils.
General value shifting regime
The general value shifting regime addresses arrangements that shift value between assets, distorting the relationship between the assets' market values and their values for tax purposes. Subject to transitional rules, the regime applies from 1 July 2002.
Gifts & fundraising
Information on fundraising including the requirements for receiving tax deductible gifts and what donors have to do to claim deductions for their gifts.
Goods & services tax (GST) - individuals
Goods and Services Tax (GST) is a broad-based tax of 10% on most goods, services and other items sold or consumed in Australia.
Goods & services tax (GST) - businesses
Goods and Services Tax (GST) is a broad-based tax of 10% on most goods, services and other items sold or consumed in Australia.
Goods & services tax (GST) - non-profits
Goods and Services Tax (GST) is a broad-based tax of 10% on most goods, services and other items sold or consumed in Australia.
Goods & services tax (GST) - government
Goods and Services Tax (GST) is a broad-based tax of 10% on most goods, services and other items sold or consumed in Australia.
Goods & services tax (GST) - tax professionals
Goods and Services Tax (GST) is a broad-based tax of 10% on most goods, services and other items sold or consumed in Australia.
Imputation
Dividend imputation has been a major feature of the Australian taxation system since 1987. Entities that are taxed separately from their members are called corporate tax entities, and they are taxed at the company tax rate, which is currently 30%.
Income tax - non-profits
Only certain non-profit organisations are exempt from income tax, many are taxable. This page provides information on endorsement requirements for charities, self-assessing exemption and concessions for non-profits organisations that are taxable.
Integrity measures
The range of anti-avoidance measures are detailed in the information provided below.
International tax - individuals
Information for two groups of people: individuals who are Australian residents for tax purposes who earn foreign income, and individuals who are not Australian residents for tax purposes who earn Australian income.
International tax - businesses
Links to information on international tax issues for residents and non-residents.
International tax - tax professionals
'International tax essentials' provides information for tax professionals on individuals who are Australian residents for tax purposes who earn foreign income, and individuals who are not Australian residents for tax purposes who earn Australian income.
International tax agreements
Australia has entered into tax treaties with over 40 countries. Tax treaties, also known as double tax agreements, prevent double taxation and fiscal evasion, and foster cooperation between Australia and other international tax authorities.
Investments - individuals
This page contains information for individuals on tax matters relating to investments.
Investments, shares & options
Some businesses have complex structures, such as multiple entities with common owners or single entities with more than one business activity.
Life insurance companies
Division 320 of the ITAA 1997, which operates from 1 July 2000, ensures life insurance companies and friendly societies that carry on life insurance business are taxed on all of the profits made from their different activities in broadly the same way as activities in other entities that are similar in economic substance. Consistent with this treatment, changes were made to the taxation of certain special investment products provided by friendly societies, including scholarship plans, funeral policies and income bonds.
Medicare levy
This page provides information for individuals about the Medicare levy and the Medicare levy surcharge.
Non-commercial losses
1. Do you make a loss from a business activity? 2. Do you carry on that activity as an individual, either alone or in partnership? If you answered yes to both of these questions then you must defer that loss, unless you meet certain conditions.
Pay as you go (PAYG) instalments - businesses
Pay As You Go (PAYG) instalment is a system for paying instalments towards your expected tax liability on your business and investment income.
Pay as you go (PAYG) instalments - businesses
Pay As You Go (PAYG) instalment is a system for paying instalments towards your expected tax liability on your business and investment income.
Pay as you go (PAYG) instalments - non-profits
Pay As You Go (PAYG) instalment is a system for paying instalments towards your expected tax liability on your business and investment income.
Pay as you go (PAYG) withholding - individuals
Pay as you go (PAYG) withholding is the way you pay your tax through the year if you are an employee. Your payer sends the tax to the Tax Office for you.
Pay as you go (PAYG) withholding - businesses
You may be required to withhold amounts from employees and others and send the withheld amounts to the Tax Office.
Pay as you go (PAYG) withholding - non-profits
You may be required to withhold amounts from employees and others and send the withheld amounts to the Tax Office.
Pay as you go (PAYG) withholding - government
You may be required to withhold amounts from employees and others and send the withheld amounts to the Tax Office.
Personal services income
Personal services income, defined as a reward for, or the result of, your personal efforts or skills, can affect tax obligations for contractors and consultants.
Petroleum resource rent tax
The petroleum resource rent tax applies to all petroleum projects in offshore areas (or Commonwealth Adjacent Areas) under the Offshore Petroleum Act 2006, other than production licences derived from the North West Shelf exploration permits WA-P-1 and WA-P-28. These are subject to the excise and royalty regime.
Research & development tax concession
The research & development tax concession is an ongoing scheme designed to increase the level of research & development being conducted by Australian companies. It is broad-based, not industry specific, and market-driven with the applicant entity deciding upon the scope and timing of the research & development.
Small business concessions
From 1 July 2007, the eligibility criteria for a range of small business entity concessions have changed.
Small business tax breaks
The small business and general business tax break provides an additional tax deduction for expenditure on certain qualifying assets. It provides a bonus deduction of 50% for small business and 30% or 10% for all other businesses providing certain eligibility criteria are met.
State & Territory - non-profits
Stamp duty, payroll tax, land tax, debits tax and public fundraising are governed by individual state and territory governments. Contact details are provided below.
Superannuation - individuals
Superannuation is an effective way to save money for your retirement. The information on these pages is provided as an introduction to superannuation topics. More detailed information will progressively be added to the site in the coming months.
Superannuation - employers
This information is designed to help employers meet their superannuation obligations. More information about recent changes to superannuation law can be found at Changes to super.
Taxation of financial arrangements (TOFA)
This taxation of financial arrangements (TOFA) overview includes details of the commencement of TOFA stages 1 and 2, and outlines the key proposals for TOFA stages 3 and 4.
Tax file number (TFN) - individuals
Information about tax file numbers for individuals including what they are used for and how to obtain one.
Tax file number (TFN) - non-profits
Certain non-profit organisations can claim an exemption from quoting a TFN to investment bodies. Taxable non-profit organisations require a TFN to lodge tax returns.
Thin capitalisation
The new thin capitalisation rules affect Australian entities with certain overseas operations and their associate entities, Australian entities that are foreign controlled, and foreign entities with operations or investments in Australia which are claiming debt deductions. The new rules can apply to companies, trusts, partnerships, unincorporated bodies, and individuals.
Venture capital tax concession
The venture capital tax concession consists of the 2002 concession which provides certain tax exemptions to tax-exempt foreign residents, foreign venture capital funds of funds and certain other non-residents from prescribed countries, and the 1999 concession which provides exemptions for capital gains on venture capital equity by certain tax-exempt foreign superannuation funds.
Wine equalisation tax (WET)
The wine equalisation tax (WET) is a value-based tax which is applied to wine consumed in Australia. It applies to assessable dealings with wine (unless an exemption applies) which include wholesale sales, untaxed retail sales and applications to own use.
Last Modified: Thursday, 24 September 2009
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