Tax Registrations Services in Australia
We offer Tax Registrations services to newly-incorporated companies in Australia. We will help you assess and compile your tax requirements with the Australian Taxation Office (ATO) so you can enjoy a seamless tax registration process.
Your tax requirements will depend on the type of business you want to operate and the number of employees you want to have. You must first secure your Australian Business Number (ABN) and Tax File Number (TFN) to be eligible for tax registration in Australia, which our Company Registration team can help you with.
Our Tax Registrations Services
- Process identifier requirements of your shareholders and directors for ID checks from the government
- Register for Goods and Services Tax (GST)
- Register for Fringe Benefits Tax (FBT)
- Register for Pay as You Go (PAYG)
Process identifier requirements of your shareholders and directors for ID checks in Australia
This will happen during the ABN application process. The speed of the tax registration process will depend on the nationality of your shareholders and directors. As such, we need to identify each shareholder and director in your company.
If you have a purely Australian director board, you would already have the relevant identifier requirements to be able to apply online and expedite the application process. In this case, no further ID checks will be mandated by the government.
If you have foreign directors and shareholders, you will be required to submit certified true copies of their ID documents and other identifier requirements to the government.
Register for Goods and Services Tax (GST) in Australia
GST is a tax of 10% applied to most goods, services, and other items sold or consumed in Australia. You must register for GST within 21 days after getting your ABN.
You need to register for GST if your business meets the following criteria:
- has a current or projected turnover of AU$75,000 or higher per annum
- provides taxi/limousine services (regardless of gross annual turnover)
- wants to claim fuel tax credits
Register for Fringe Benefits Tax (FBT) in Australia
If you provide benefits to your employees or those associated with your employees, you may be mandated to pay FBT. If yes, you must register with ATO or the Business Registration Service and lodge a return each year.
Register for Pay as You Go (PAYG) Withholding in Australia
PAYG withholding is a system that allows you to pay your tax liabilities as an employer if you want to employ local staff, engage the services of local contractors, or pay interest to an overseas affiliate. You must register for a PAYG before you are first required to make a payment that is subject to withholding.
PAYG withholding is different to payroll tax, which is a state tax.
Why Do I Need to Secure an ABN and TFN Before Registering with ATO?
An Australian Business Number (ABN) is a unique 11-digit number that identifies your business to government agencies like ATO. ABN registration is not mandatory but highly advisable for faster communications with government agencies. If your business does not register for an ABN, companies that you do business with will withhold 46.5% of payments (the current top marginal tax rate) and pay it to ATO.
A Tax File Number (TFN), on the other hand, is a unique nine-digit number issued by ATO and serves as an identifier to the company for tax purposes. All companies actively operating in Australia are required to secure a TFN.
Applying for ABN and TFN will allow your business to perform the following for tax purposes:
- lodge business activity statements
- claim GST credits
- claim energy grant credits
- allow suppliers and other businesses to easily confirm your company details when ordering and invoicing
- avoid PAYG tax on payments you receive
We are dedicated to helping you stay on the right track with registering for taxes in Australia.
We have other ways to help you.
Want to engage with us for your post-registration needs?
