Tradies and Services Industries
In a trading industry, businesses are engaged in the buying and selling of goods. Trading companies worked on products in a variety of ways from developing and buying raw materials to manufacturing, processing, distribution, and sale. Businesses are constantly looking for ways to improve their products and provide better services.
The service industry includes customer services, computer and information, financial, administrative, recreational travel services, telecommunication, mechanical services, and many others.
While trading or merchandising businesses buy and sell tangible goods, service businesses sell their experience and skills.
As always, every business focused on finding ways to improve their goods and services for their customers yet you also have to give serious attention to your tax obligations as well.
Every business has a duty to comply with the rules and regulations of the Australian government and this is something every business of this type of industry must give much attention to.
If you have a permanent establishment you may be liable to pay an income tax. If you provide services as an individual or you are engaged in an import and export business then you will need to pay your income tax. You may be liable for GST and other withholding taxes as well.
Free your mind from stress and reach out to us. Know your tax obligations. Ask us at Progress CA. We are chartered accountants and we know your needs.
Currently, we are providing FREE 30 minutes tax consultation. You can book it through our website at www.progressca.com.au or call us on 0403050779. Do not hesitate. Contact us now by booking your first consultation today!