International Taxation
Like any country, establishing a business in Australia can be a minefield of documents, government departments and legislation. Gooding Partners Chartered Accountants can assist in simplifying the process, allowing you to focus on the actual business and the reasons why you are in Australia. Our tax and corporate advisors experience can help streamline the documents and in most cases, cut down the set up time.
The profitability of foreign start-up operations can be greatly affected by the amount of international taxation paid. With this in mind, our experienced advisors can work with you to ensure you pay the right amounts to the ATO.
Our International Business Services
If you want to operate or grow internationally, DFK can help you get there by tapping into our global membership. Member firms are carefully selected for the quality of service that they provide and with more than 50 years of experience of working together, DFK has the experience to know what we are talking about.
When facing unfamiliar foreign legislation, terminology, and processes, it can seem like a daunting process. If you are looking to enter the Australian market from overseas, we can help with setup management and compliance, cost minimization and even human resources. We provide end-to-end solutions including:
- Entity establishment and registration;
- Relationship management with local contacts;
- Tax advisory services;
- Corporate secretarial services;
- Back Office Support;
- Business Advisory Services
Establishing a new business in a foreign country can be an overwhelming experience. Gooding Partners can assist in taking the compliance and paperwork costs off your busy schedule by proving back office support to your business, allowing you to focus on establishing sales and revenue streams. We offer several solutions ranging from complete support services, through to simple administration tasks such as completing the regular taxation compliance paperwork for the Australian Taxation Office.
The added benefit to this service is the cost savings of not having to employ full time back office staff and the ongoing costs associated with such. As your business grows in Australia, we can continue to provide this service or work with your team to transition this service to your office in Australia.
For foreign individuals and businesses wanting the enter the Australian market, the acquisition or merger with an existing company is commonplace. Our Corporate Finance Division can help you maximise these opportunities with services such as:
- Due diligence;
- Business/asset valuations;
- Deal structuring advice;
- Risk mitigation.
Generally, the dividends, interest and royalties paid to non-residents are subject to withholding tax at a flat rate varying between 15-30%. These are considered to be final taxes on these payments. Exemptions do not apply under many provisions for each category and may also be reduced under double tax agreements. Knowing the exemptions and when to apply them can save significant tax, or at least ensure you are paying the correct amount. The team at Gooding Partners can ensure the correct amount of tax is paid, giving you peace of mind in the case of tax review or audit.
Gooding Partners can also help with the reporting requirements for the Australian Securities and Investments Commission (ASIC). Foreign companies are not exempt from the audit and disclosure requirements set in place, and any foreign company wishing to carry out business within Australia must be registered with ASIC. This lengthy process can be undertaken by our skilled business advisors as well as all ongoing obligations with ASIC including:
- Lodgement of financial statements;
- Annual reviews;
- Notification of corporate changes;
- Applications of relief;
- Periodic reporting;
- Outsourced Payroll;
- Back Office Support;
- Double Taxation Agreements.
National and International Network
Gooding Partners is an independent member of DFK International an association of independent accounting firms and business advisers.
Our DFK membership means that wherever in the world you want to do business, we can draw on the experience of independent firms like ours, who also share our client-focused approach. In this way, you’ll benefit from working with a local firm that takes the time to understand your needs. You’ll also effectively be supported by a multinational accountancy firm, offering worldwide expertise on issues including business practices, tax regimes and business opportunities.
