LAW
3 (Australian Taxes)[1]

Depending on the nature of the taxpayer individuals

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depending on the nature of the taxpayer  § Individuals pay tax at rates that  increase progressively (from 0% to  45%)  § Companies generally pay tax at a flat  rate of 30%  Fringe benefits tax Fringe benefits tax § FBT is payable by employers at the rate  of 46.5% on their “fringe benefits  taxable amount” for a “year of tax” (ie 1  April to 31 March)  § An employer’s “fringe benefits taxable  amount” is based on the grossed-up  taxable values of the “fringe benefits”  provided during the year  § Most kinds of benefits (other than salary  and superannuation) provided in  respect of employment are fringe 
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benefits, eg: § Cars  § Low-interest loans § Free holidays Other Commonwealth Other Commonwealth     taxes taxes § Medicare levy and Medicare levy  surcharge – payable with income tax § Superannuation taxes – underpin the  superannuation regime § Superannuation guarantee charge § Excess concessional contributions tax § Excess non-concessional  contributions tax  § Customs duty – tax on the importation  of goods into Australia
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State and Territory taxes State and Territory taxes § Stamp duty – imposed on dutiable  transactions, eg: §
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  • Fall '09
  • fringe benefits

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