All businesses must comply with Australian Tax Office obligations; most important of which are related to Goods and Services Tax (GST) and income tax on profits. Tax compliance further include guarantee superannuation deposits, fringe benefits. Any businesses that are found not be in compliance will face hefty fines and possibly other penalties.
You may also be required to register for Goods and Services Tax (GST & BAS) if you have a GST annual turnover of greater than $75,000 and register for monthly Installment Activity Statement (IAS) if you annually withhold tax is more than $20,000. Payroll Tax is payable if your business employees a high number of staff and the threshold varies according to the laws of the states.