Taxation

Canadian payroll deductions are an important aspect of your business. After all, you need to properly calculate them to avoid running into trouble with the Canada Revenue Agency (CRA) later on down the line. Figuring out deductions can be a bit of a task. There are many different factors you need to take into account. It can sometimes seem a bit too complicated! If you’re feeling overwhelmed, don’t fret. There are many tools to help you. Different Province, Different Rules One of the biggest…

With this documents or records, he will not be liable for any penalties (Australian Taxation Office 2014) The case of “Lurcott v Wakely and Wheeler ([1911] 1 KB 905, per Buckley LJ at 923” can be used as a reference to Dr John’s situation. The case was about a concern of a lease of an old house. The front wall of the leased house had to…

In this type of structure Daniel will gain protection for his personal assets in the event of lawsuit or debt. In addition will bring a more efficient taxation (Beesley, 2012). The currently operating model of Daniel’s business has limitations for supporting growth and longevity. An operating model describes the way that an organization decide questions such as, where will the company operate? What kind…

This article discusses how the Korean government has decided to impose indirect taxation on cigarettes in order to lower smoking rates in Korea. Cigarettes are a demerit good that creates negative spill-over effects like ‘premature deaths’ and ‘financial issues’. The market for cigarettes is an example of market failure because resources are put into producing cigarettes instead of products with positive externalities to the society. (Allocative inefficiency) Negative…

The purpose of the flat tax is to ensure everyone is taxed at a single flat rate. However, the flat tax system recommended by Hall and Rabushka (1995) encompasses of two diverse, then reliable systems of taxation. One is called the wage tax and the other one is called the business tax. Over the years, several types of flat tax proposals have been introduced, but the recommended idea remained the same. Now if this policy, if implemented, would replace the existing federal in addition to corporate…

specific deductions that can be taken by a tax payer such as mortgage interest, medical expenditures, charitable contributions, gifts, and many other items. However, some events, such as the death of a relative who leaves an estate behind, can trigger taxation. With current tax law, if someone dies and leaves an estate behind, a portion of that estate over a certain amount will be taxed as income. This tax is known as the estate or “death” tax. The tax is meant to minimize, “the large tax…

had to do. They also respected the fact that they were Jewish by exempting them from joining the military because it violates their religious beliefs. However, the Jews started an anti-taxation protests that the Romans could not possibly tolerate. The Romans were forgiving and easy going on other laws, however taxation was something…

commerce it is suggested that Smith’s principles need modernizing” (Alley, C., & Bentley, D,2005,P624) David Ricardo’s taxation methods are viewed less critically than Smith. According to Ricardo, taxation either falls upon capital or profit. Capital can be expanded in two routes: increasing in production or decreasing unproductive consumption. In general, taxation tends to slow down the process of capital accumulation. If the taxes fall upon the profit, producers or merchants will pay…

Britain was placing taxes on colonists, forcing soldiers into their lives and homes, and belittling their lives and rights as a whole. It's pretty blatantly obvious that the people of colonial America were justified in rebelling against the British. "Taxation without representation" was a phrase that was coined around this time and was one of the biggest factors in the starting of the American Revolution. The general consensus was that the people not being able to contribute to decisions that…

Sharon Wu Prof. West History 7A October 16, 2014 No Taxation without Representation The Seven Years War, a global conflict known in America as the French and Indian War, took place on May 15, 1756. This war brought to England more land in America and any English Subjects living in America had more land and more money. However, the outcome of the war was not only a victory to Great Britain but also debt to the country. As the name described, the war lasted seven years and for seven years, a…