03 9988 1900

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• Suite 2, Level 5

  459 Little Collins Street

  Melbourne  VIC 3000

• PO Box 16165, 

  Collins Street West VIC 8007 

P: 03 9988 1900
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Indirect Taxes - Tax Advisors Melbourne

When it comes to the different taxes that can be encountered when running a business, it can seem like a mind field. TF Accountants are specialist tax advisors based in Melbourne's CBD and have been advising clients on various tax matters from Income Tax, Capital Gains Tax, GST, Fringe Benefits Tax and Payroll Tax and some strategies to reduce the amount payable to the relevent Government authorities.

Capital Gains Tax

Capital gains tax is a tax levied on the increase in value of assets when a Capital Gains even occurs. A CGT event can include the sale of a property, sale of shares, transfer of shares or property to relatives or children, when a person leaves Australia permanently and a range of other scenarios.

When structuring your business or investment portfolio, it is important to take into consideration capital gains tax as lowering it can mean a significant amount of tax savings. Some considerations include the principal place of residence exemption, small business CGT concessions and the ability to access the 50% general CGT discount.

If you are looking to setup a business or start an investment portfolio or if you simply would like a review of your current affairs to see if there is a better way to structure your affairs, contact us for a free obligation free discussion on (03) 9988 1900 or contact us here.

Goods and Services Tax

GST applies on the sale of most goods and services unless an exemption applies. Once a business reaches a turnover of $75,000 per annum, the business is required to register for GST and lodge quarterly Business Activity Statements with the Australian Taxation Office. It can sometimes be worthwhile registering for GST much sooner than this if a business's expenditure has a large amount of GST and can collect the GST back from its customers. 

As everyone's circumstances differ, it is best to seek professional advice particular to you. TF Accountants are specialist tax advisors and can provide the right advice at a competitive price. Book a free, no obligation meeting by contacting us on (03) 9988 1900 or contacting us here

Fringe Benefits Tax

Many opportunities exist for employees to increase their take home pay though effectively using salary packaging. We offer assistance with all fringe benefits tax issues including:

• Salary packaging of motor vehicles.

• Advice regarding Living Away From Home Allowances.

• Advice on the best way to handle Entertainment FBT.

• Review and lodgement of annual FBT returns

• Preparation of FBT compliance manuals

Payroll Tax

Payroll tax is a tax levied on salaries, wages and other costs of business owners once a threshold is reached. This threshold differs state to state but is grouped for the purposes of claiming an exemption, meaning you can only get an exemption in one state.

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