Australian Capital Territory New South Wales Northern Territory Queensland South Australia Tasmania Victoria Western AustraliaHow to calculate public holiday pay? Employees who work during a public holiday get paid a higher rate. This pay rate would often be a multiple of the base hourly rate, for ...
Designed for Australian tax requirements Thecapital gains tax reportuses the 'discount method' for shares that have been held for more than a year and the ‘other method’ for shares held for less than a year. The discount rate is based on the Australian tax settings you select when se...
How to Calculate Withholding Tax Withholding tax is what employers deduct from gross wages to pay directly to the Australian Taxation Office (ATO). It is essentially an income estimated tax credit, which means if too little is taken, your employee could end up owing money at the end of the...
The business activity statement (BAS) is a form businesses submit to the Australian Tax Office to report their tax obligations, including GST. Within this form, businesses detail sales, purchases, and the resulting GST they need to pay or are due to receive back. It’s basically a regular ...
Super guarantee explained Under Australian legislation, generally your employer must pay 11.5% of your salary into a super fund. It’s designed to help you build up and save for retirement. Generally, you’re entitled to Super Guarantee contributions from an employer if you are over 18 years ...
This is a really niceonline compound interest calculatorrun by Australian Securities and Investments Commission. It lets you input all relevant factors that determine the future value of your investment and outputs the result as a graph. By hovering over a certain bar in the graph, you can see...
franking credits, which sums up to a total assessable income of $100. However, as mentioned earlier, an individual’s marginal tax rate needs to be considered to determine whether they’ll receive the credits as a tax refund or pay an additional tax to the Australian Taxation Office (ATO)....
For example, have a look at how Vanguard’s Australian Shares ETF (ASX: VAS) dividend distribution looks in Sharesight: Track your franking credits with Sharesight Sharesight automatically tracks the franking credits received with dividends. Investors can then runSharesight’s Taxable Income Reportto...
There are four tax periods when you will be required to report your GST to the Australian Tax Office (ATO). These are for the July-September quarter, October-December quarter, January-March quarter, and April-June quarter. You will be required to complete a tax form known as aBusiness Act...
Many companies use depreciation for tax purposes. This is when they can deduct the value of an asset from their taxes each year, regardless of whether it’s sold or still in use. If your equipment has a high residual value at the end of its lease period, leasing may be more attractive...