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What different types of taxes are there to pay?

Income Tax – Calculated on the income (or in the case of a business – profit) earned in a financial year. Companies pay a fixed rate for Individuals, the first $18,200 earned is tax-free.

Goods and Services Tax (GST) Additional tax levied on Goods and Services. 

Capital Gains Tax (CGT) – Tax levied on profits made when selling items of a capital nature (Eg -  sale of an investment property or shares)

Fringe Benefits Tax (FBT) – Additional tax paid by employers on benefits provided to their employees

Payroll Tax – Tax paid by (larger) employers on the salaries paid to their employees