The major taxes levied on the citizens of Australia include income tax (imposed on both individuals and companies), goods and services tax and customs and excise duties. The Australian government has recently added to the legal body of taxation the Tax and Superannuation Laws Amendment Act 2014, Minerals Resource Rent Tax Repeal and Other Measures 2014, Tax Laws Amendment 2014,Clean Energy Legislation (Carbon Tax Repeal) Act 2014, and Tax Laws Amendments 2014. AccountingAssignmentHelper.com’s main priority is to ensure that students from all across the globe score better grades in their taxation assignments. It is for this reason that we offer top-notch Australian taxation assignment help. Avail the help of our experts today be guaranteed impressive solutions on time.
Forms of Taxes in Australia
• Personal income taxes
The federal government levies income tax on individuals. Personal income tax makes up a significant amount of revenue for Australia. The income tax in Australia is imposed on an individual rather than a family unit.
• Capital Gains Tax
In Australia, capital gains tax is imposed on the gain made on the sale of an asset. However, families are exempted from this tax.
• Corporate Taxes
This type of tax is paid by companies and corporations on their profit. This type of tax is quite different from income tax which uses a progressive scale. Corporate tax is calculated at a flat rate of 30%.
• Goods and Service Tax (GST)
This is the value added tax imposed by the federal government. Entities registered for the tax have to pay 10% on the supply of their goods and services. The Howard Liberal government introduced the GST in Australia on 1 July 2000.
These are only some of the taxes levied in Australia. If you want to learn more then we highly recommend that you avail our Australian taxation homework help service. We have been providing excellent online assistance to students who are struggling with their taxation homework, research paper, coursework, and assignment among others for quite a while now. During this time, we have established ourselves as the best site that has the interest of students at heart.
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