Explaining business taxes

Step 1 of 8

Business taxes

A business has obligations for a number of other taxes including requirements to withhold tax for employees (PAYG withholding).

  • Fact 22

    The changeover to decimal currency in 1966 created a massive amount of work for the ATO. In NSW alone, staff manually converted 200,000 accounts worth $450 million.

Refund

An amount paid back by the ATO to a taxpayer when the taxpayer has paid more tax than they are liable to pay.

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