Your AI CFO for Australia.

Company Tax (Australia)

Company Tax is the federal tax Australian companies pay on taxable income. The base rate is 25% for 'base rate entities' (turnover under A$50 million and ≤80% passive income). All other companies pay 30%. There is no separate state-level company tax.

GST (Goods and Services Tax)

GST is a flat 10% tax on most goods, services and other supplies in Australia. Businesses with turnover of A$75,000+ (A$150,000 for non-profits) must register and remit GST quarterly via the Business Activity Statement (BAS).

BAS (Business Activity Statement)

The Business Activity Statement is the quarterly (or monthly for large businesses) form Australian businesses use to report and pay GST, PAYG withholding, PAYG instalments, FBT instalments and Wine Equalisation Tax. Filed via myGov, ATO Online, or accounting software.

ABN (Australian Business Number)

The Australian Business Number is an 11-digit identifier issued to businesses by the Australian Business Register. Without an ABN, payers must withhold 47% from your invoice. Required for GST registration, business name registration, and most B2B trading.

ACN (Australian Company Number)

The Australian Company Number is the 9-digit identifier ASIC issues to every registered Australian company. It must appear on company stationery, websites, and public documents. Companies also have an ABN; the ABN typically incorporates the ACN.

TFN (Tax File Number)

The Tax File Number is a 9-digit personal tax identifier issued by the ATO. Every Australian taxpayer needs one to lodge tax returns, receive Medicare, and avoid having tax withheld at the top marginal rate (47%). Companies have a separate company TFN.

Yes — Australian businesses and employees can claim home office running costs. The ATO offers a fixed-rate method of 70 cents per work-from-home hour (FY24–25) covering electricity, gas, internet, phone and stationery, or you can claim actual costs.

Yes — Australian businesses can claim motor vehicle costs using either the cents-per-kilometre method (88 cents/km, max 5,000km, FY25) or the logbook method (actual costs × business use percentage from a 12-week logbook).

Yes — employer Super Guarantee contributions are fully deductible against company income provided they're paid by the quarterly due date. Personal concessional contributions up to the cap (A$30,000 for FY25) are also deductible.

Yes — small businesses (aggregated turnover under A$10 million) can immediately deduct the cost of eligible depreciating assets up to A$20,000 per asset (extended to 30 June 2025). Multiple assets can be written off — the threshold is per asset.

Rarely — Australian businesses generally cannot deduct entertainment expenses (meals, drinks, recreation) under ITAA s32-5. Limited exceptions: FBT-paid entertainment, in-house cafeteria, or food provided in working overtime.

Yes — fees paid to tax agents, accountants, lawyers and other professionals for the trade are deductible. Capital legal fees (e.g. asset acquisition) are capitalised, not deducted.