CGT is levied on profits made from the sale of business assets, such as property, shares or investments. This tax is part of corporation tax and is not a separate rate. Some companies may benefit from exemptions or discounts if they meet certain requirements.
Example: If you sell a commercial dominican republic phone number library property purchased for A$500,000 ($325,000) and sell it for A$800,000 ($520,000), the taxable gain will be A$300,000 ($195,000), taxed at 25% or 30% as appropriate.
FBT applies to non-monetary benefits provided by companies to their employees, such as company cars, accommodation or additional services.
Standard rate: 47% of the value of the profit.
Taxable base: market value of profit less employee contributions.
Example: If your company provides a company car valued at A$20,000 ($13,000) per year, you will pay A$9,400 ($6,110) under FBT.
In addition to the main taxes, there are other specific taxes that may apply depending on the sector or the company's activities:
Payroll Tax: This tax is levied on wages paid by the company and varies by state or territory, with rates ranging from 4.75% to 6.85%.
Stamp Duty: applies to the purchase of commercial property, with variable rates depending on value and location.
Commercial Vehicle Tax: Some jurisdictions impose an additional levy on businesses that use commercial vehicles as part of their operations.