What if I employ staff?
Whether you need to pay payroll tax is not related to your business structure, but whether the total amount of Australian wages you pay exceed the tax-free threshold of a particular state or territory where you employ people.
Your succession plan is the main section of your plan and should cover detailed information about your business and planned succession. When considering succession planning for when you sell your business there are a number of things to think about.
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How is tax calculated?
Goods and services tax (GST) External Site is not business structure specific, but is instead determined by the business’s financial turnover and certain activities, for example, if you want to claim fuel tax credits.
Tax and superannuation are not business structure specific, but are instead determined by the activities of the business.
Provides small businesses with funding of up to $20,000 to undertake a digital transformation of their business.
Who can apply:
At a minimum, you must:
- have an Australian Business Number (ABN)
- employ 19 or fewer full-time equivalent employees
- not previously have received a state / territory or Commonwealth digital grant (excluding the Cyber Security Small Business Grants Program)
Other eligibility requirements may apply
Employer rights and responsibilities according to trade practices and state fair trading laws.
Who is liable for business debts?