As overseas travel became more common in the 1960s, the ATO stopped issuing tax clearance certificates (which had previously reminded Australians planning on travel that they must ensure they had paid all tax owed prior to leaving the country).
Step 1 of 6
Choose a structure for your business
There are different ways to set up a business, each with its benefits and drawbacks. The business structure chosen will affect the way tax is calculated and the amount of tax paid on the business profits.
There are four main types of business structure.
-
Fact 21
Tax minimisation
When a taxpayer legally minimises the amount of tax they have to pay.
read more glossary terms