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Payroll tax is a general purpose tax assessed on the wages paid by an employer in Western Australia. The tax is self-assessed in that the employer calculates the liability and then pays the appropriate amount to the Office of State Revenue, by way of a monthly, quarterly or annual return. From 1 July 2014: [32] The rate of payroll tax is 5.5%.
The Australian Taxation Office (ATO) administers a pay-as-you-go tax (PAYG) withholding system. Introduced in 1999, it merged 11 previous payment and reporting systems, one of which was a "PAYE" system for employee income, from which the name "PAYG" distinguishes. [8]
Australian tax returns for the tax year beginning 1 July and ending 30 June of the following year are generally due on 31 October after the end of the tax year. [ 1 ] Australian individual taxpayers can file their return online with the ATO's myTax software, by ordering a printed copy of the tax return form, or with the assistance of a tax agent.
A tax offset is a reduction in the amount of tax an eligible taxpayer owes in a given income year. The Australian Taxation Office (ATO) offers various tax offsets to provide targeted assistance to different groups of taxpayers, encouraging certain behaviours or helping those in specific situations.
A tax file number (TFN) is a unique identifier issued by the Australian Taxation Office (ATO) to each taxpaying entity—an individual, company, superannuation fund, partnership, or trust. [1] Not all individuals have a TFN, and a business has both a TFN and an Australian Business Number (ABN).
The Australian Taxation Office forwards a business activity statement tailor made for each registered business entity before the end of each reporting period. It may be delivered to the business as a paper form, electronically, or via the business’s registered tax agent. Parts of the form may be pre-filled.
In the 2012–13 financial year, the ATO collected revenues totalling $313.082 billion in individual income tax, company income tax, goods and services (GST) tax, excise and others. [ 6 ] Former employee Richard Boyle has alleged that there was a culture within the ATO to increase the use of garnishee notices , which allow the ATO to access ...
Part IVA of the 1936 Tax Act is a General Anti Avoidance Provision (‘GAAR’) which can apply to strike down any Australian income tax benefits arising from a scheme where the Commissioner of Taxation, who is the head of the Australian Taxation Office, can successfully establish that the dominant purpose of a party involved in the transaction ...