Oztaxline Tax Tips & News Australia

Companies
An Australian resident company tax rate remain at 30 per cent of its taxable income.

Capital Gains Tax
Captial Gain Tax at 30% is applying to the disposal of assets acquired (or deemed to have been acquired) after 19 September 1985. A net capital gain arises if the capital gain made by a taxpayer in a year of income exceeds the capital loss made by the taxpayer in that year or carried forward from previous years.

Repatriation of profits
Repatriation of profi ts can generally be undertaken at any time as there are no foreign exchange controls on such repatriation. Dividends paid to foreign shareholders are subject to withholding tax (there are some exceptions).

Retirement income contributions
The Superannuation Guarantee legislation generally requires employers to contribute 9% of an employee’s salary or wages into an Australian superannuation fund.
There are some exceptions from the Superannuation Guarantee, including where a Social Security Agreement that Australia has with another country exempts an employee who has been sent to work temporarily in Australia.

Residetns Individual tax rates



Non-Residetns Individual tax rates