Listed below are some ATO sites that you may find
useful in the day to day running of your business.
E-Tax Download E-tax is the ATO’s free, fast and secure service you can use to prepare and lodge your individual tax return online. Most refunds are issued within 12 business days.
If you already know the requirements for using e-tax, you can download the software now and get started.
Simple Tax Calculator – This tool will help you to calculate the tax you owe on your taxable income. It will not calculate any: Medicare levy, Medicare surcharge, Higher Education contribution scheme (HECS), or Student financial Supplement Scheme (SFSS) liabilities you may have
Comprehensive Tax Calculator – You can use this calculator for an estimate of your tax refund or debt for the 2012 tax financial year.
Medicare Levy Calculator – This Calculator will provide an estimate of your medicare levy, taking into account any entitlement to a reduction or exemption. This calculator provides an estimate only. The exact amount will be determined once you have lodged your income tax return.
Fuel Credits Calculator – You can only claim fuel tax credits for:
- liquid fuels – for example, diesel and petrol
- gaseous fuels – such as liquefied petroleum gas (LPG).
Generally you can claim fuel tax credits:
- for fuel on which excise or customs duty has been paid at the full rate
- where another entity has not previously been entitled to a fuel tax credit for the fuel – for example, if LPG has been supplied for non-transport use in containers of 210kg capacity or less, the LPG supplier is entitled to claim the fuel tax credits.
Australian Business Number (ABN) – Check if a Subcontractor has a ABN and if they are registered for Goods & Services Tax (GST) or not.
Register for a Australian Business Number – You will need to register for a ABN if you are starting a new business.
- PAYG withholding is a legal requirement that means you must withhold amounts for income tax purposes.
- As an employer of staff, you’re required to withhold tax from payments you make to them. Occasionally, you may also have to withhold tax from payments you make to other workers, such as contractors.
- In addition to staff, PAYG also covers payments you make to other businesses. If you purchase from a business that does not quote an Australian Business Number (ABN) on an invoice or other document, you must withhold an amount for tax purposes.
- You need to register your business by the day on which you’re first required to withhold an amount from a payment. Once registered, you must send all withheld amounts to the Australian Taxation Office (ATO).
Missing or Lost Super – If you think you might have super unclaimed out there in that bottomless pit. You will need your name, Date of Birth and tax file number to use this free service.
Other sites of interest:
Simple Loan Calculator – Do you want to see how much your payments will be prior to you taking out a loan.
Fair Work Australia – Fair Work Australia is the national workplace relations tribunal. It is an independent body with power to carry out a range of functions.