Running a business: tax obligations

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Running your business

When you go into business, it is important to understand your tax obligations. You may be liable for various Australian, state or territory, and local government taxes depending on the size and location of your business.

Paying taxes is an important community responsibility for a business. Governments use tax revenue to provide the community with services. Infrastructure such as roads, ports, water, power and communication are important for many businesses to operate effectively. Tax provides the major revenue for the development and maintenance of infrastructure.

  • Fact 25

    The first computers used by the ATO were used primarily for issuing the five million refund cheques sent out each year in the mid 1960s.

Stamp duty

A tax levied by state and territory governments on the purchases of certain assets, for example, property.

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