Taxation Services

Registering your Business for Tax

Based on the type of business you are operating & the number of employees you have, you might have to register for different taxes & we can help you with this.

GST Registration

Goods and services tax (GST) is a broad-based tax of 10% on most goods, services and other items sold or consumed in Australia.

If you are running a business in Australia, you must have to register for GST if:

  • your business or enterprise has a GST turnover (gross income from all businesses minus GST) of $75,000 or more
  • you have started a new business and expect your turnover to reach the GST threshold (or more) in the first year of operation
  • you're already in business and have reached the GST threshold
  • your non-profit organisation has a GST turnover of $150,000 per year or more
  • you provide taxi or limousine travel for passengers (including ride-sourcing) regardless of your GST turnover – this applies to both owner drivers and if you lease or rent a taxi
  • you want to claim fuel tax credits for your business or enterprise.

Source ATO

FBT Registration 

You must register for FBT (Fringe Benefit Tax) and lodge a return each year; if you provide certain benefits to your employees or the people associated with your employees.

A fringe benefit is a 'payment' to an employee, but in a different form to salary or wages. If you provide services considered as a fringe benefit, you are liable to pay FBT. FBT is separate from income tax and is calculated on the taxable value of the fringe benefit provided by you. You can generally claim an income tax deduction for the cost of providing fringe benefits and for the FBT you pay. You can also generally claim GST credits for items provided as fringe benefits.

FBT year is different to the Income Tax year. The FBT years run from April 1 to March 31 every year.

Source ATO

PAYG Withholding Registration

If you are running a business and have hired employees to work for you, you have to register for PAYG withholding. You must register for pay-as-you-go (PAYG) withholding before you're first required to make a payment that is subject to withholding. This is required even if you do not withhold any amount from a payment made. Note PAYG withholding is different to the payroll tax, which is a state tax. We can assist you with PAYG Withholding Registration.