Australian Taxation Office

axes are something you have to pay all of your life, and if you do not plan ahead, they will be something your estates will be paying even after you are gone. So making sure that you get quality estate planning tax advice when you are arranging your final affairs is one way to ensure that your heirs, and not the IRS, receive the bulk of your estate. While it may be trite to observe that no two individuals are the same, it is not a cliché to say that everyone of us can benefit from estate…

Under the Income Tax Assessment Act 1997, a taxpayer's total capital gain consists of both net capital gain subtracted from their net capital losses for the financial year (July 1st to June 30th). Variations on income tax liability depend on whether the taxpayer has made either a capital gain or a capital loss.1 Capital gains occur whenever costs are less than the gains on a capital asset. Conversely, capital losses arise whenever costs exceed a gain. 2 The most common event for taxpayers…

It now has a dividend yield of 2.61%, which is better than the industry average of 2.05%. As a result of HRB’s strong financial position, we expect the company to continue to enhancing its shareholders’ value. Financial Analysis HRB has two distinct sections of their business that drives the majority of their revenues. These business drivers include their retail division and the digital tax business that allows customers to self-file taxes electronically online. In fiscal year 2015, HRB…

implemented in 1978 in Britain by Prime Minister William Pitt. It was now used in some countries to ensure that every one gets social benefits and opportunities.” The social problem and the economic problem could be solved by higher taxation with the structure of tax code during 1950s, this could result in higher revenue for the government followed…

The main sources of revenue for North Charleston for the governmental-type activates are charge for services for the general government, public safety, sanitation, and culture and recreation. The other main source for governmental-type activities is operating grants and contributions for public safety, culture and recreation, community development and promotion, and interest on long-term debt. Also, another revenue source for governmental-type activities are capital grants and contributions for…

As the old saying goes, there is two things sure in life, Death and Taxes. Needless to say, taxes have become part of everyday life for Americans and as well others citizens of the world. Politicians always promise to cut taxes and improve the wellbeing of the Nation’s people. As a matter a fact, most people will agree that taxes are one of the biggest annoyance they face. But, what some do not realize is the importance of taxes hold in some nations’ economies and as well as government run…

With very controversial presidential candidate elections underway, a main concern on voter’s minds are taxes and the different ways taxes can be lowered or raised in the United States. Each candidate’s opinion on US taxations have sparked strong debates as the federal government took in a total of $3.035 trillion in revenue during the 2014 fiscal year, and $3.248 trillion in fiscal 2015 thus having a 6.55 percent increase. Although the United States increased their tax plan they also…

A. Business Entity Distinctions Business entities are chosen based on three criteria: liability, taxation, and recordkeeping. The first criterion (liability) focuses on how much debt an owner is personally liable for as well as how the debt ratio affects an owner’s ability to acquire capital. In his current election as a sole proprietorship, Mr. Jones is personally liable for all debts incurred while in operation. If Mr. Jones is unable to repay business debts; his personal assets can be seized…

Wealth Inequality in America is Justified Ralph Waldo Emerson once said, “The only person you are destined to become is the person you decide to be.”(goodreads.com). We are all handed a card when we are born, some are handed a life in wealth while some are born into less fortunate situations. The American Dream is that one will be prosperous and have the equal opportunity for upward mobility. The card you are dealt at birth determines this, meaning that the American Dream is not equally…

There is a case about the freedom of movement. In the case of Government of Malaysia & Ors v Loh Wai Kong , Loh was a permanent resident of Australia. He returned to Malaysia in April 1975, and was charged with a criminal offense in the High Court at Ipoh on 2 August 1976. Loh obtained bail on condition that he surrenders his passport. On 2 March 1977, his passport expired, and Loh had it returned. He later applied for a new passport, citing the need to return to Australia by 1978, or his…