Australian Taxation Homework Help

Homework Help to solve assignment on Australian Taxation

Tax is the financial charge that the Government of a country levies on citizens in return for services that are provided by the Government. Non payment of taxes or refusal to pay taxes is usually a punishable offence. Taxes are either based on the incomes of the citizens or on the services and commodities they purchase. Taxes can be divided into various sub groups. Each nation might have its own set of rules regarding the taxes.

If you’re from Australia, certain rules would be levied regarding the taxes that your Government collects and students need to study about this at school level. It’s not uncommon for students to have difficulties while working on their tax related assignments, especially in the absence of proper guidance. However, that is no longer a problem since students can now acquire Australian taxation assignment help any time they need from helpmeinhomework . Professional tutors work with us to get students out of trouble in their hours of need.

Categories of taxes:

The first thing that students need to know about taxes is their division. The first categorization of taxes would be:

  • Direct taxes:

Direct taxes are paid by person on whom the tax has been levied, for instance income tax or entertainment tax.

  • Indirect Taxes:

This is a kind of tax where tax is levied on one person but the burden of tax is borne by another. For instance Sales Tax, where tax is levied by the government on the seller but the seller includes tax amount within his selling price and it is ultimately paid the consumer.

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Some common types of taxes:

Some of the common type of taxes which are levied by the Government of every nation and which every citizen should be aware of are:

  • Income Tax:

This is the tax which is levied on a person on the basis of their annual income. There’s the minimum income group and people who earn less than a certain figure (as decided by the Government) are exempted from paying the taxes. Other people need to pay a certain percentage of their incomes as a tax.

  • Corporate Tax:

These are the taxes that are to be paid by corporations on basis of their earnings.

  • Property Tax:

For owning property, the Government can charge taxes and it is based on the valuation of the property.

  • Sales Tax:

When a product is sold to a consumer, a sales tax is levied on it.

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