Australian Taxation Office

2018 High School Co-op Assignment RRSP 1) A RRSP is a Registered Retirement Savings Plan, this is meant to shelter investments, allowing them to grow tax free until you retire. An RRSP doesn’t only hold cash. It can also hold stocks and mutual funds. The only tax you pay on an RRSP would be when you make a withdrawal. One of the benefits of an RRSP is to reduce your taxable income. For example, if you make $90,000 in a year and don’t contribute any money into a RRSP, you will be taxed on…

maintenance processes are made on the client headquarters. In this situation, according to the ABR website the business’ office or/and the home address can be considered as a business location (Australian Business Register, 2014).Therefore, it can be considered that Tuscan Gardens is based in Parkside a suburb of Adelaide in South Australia, where currently Daniel lives and has his office. As mentioned, Daniel’s business is presently structured as a sole proprietorship. It is the simplest…

ncome statement： In order to analysis the financial statement thoughtfully, we apply the horizontal analysis technique to find out the significant change in dollar amount and percentage grow rate. From the income statement vertical analysis below (table 1), we could compare a series of financial statement data over a period of time. Sales revenue increase by around 10% from 2013 to 2014. If excluding the currency change, revenue from NIKE Company’s continuing operations grew 11 % for the fiscal…

corporation currently yield 8%. Municipal bond of equal risk currently yields 6%, At what tax rate would an investor be indifferent between these two bonds? Thanks in advance .a- 9%(1 ' 0.36) = 5.76% or 5.8% b- Corps Bond Yield=(Municipal Yield)/(1- Taxation rate)get an answer of .25 or 25% Complete Chapter 2 problem, 2-8, p. 79 The Wendt Corporation had $10.5 million of taxable income.a. What is the company¶s federal income tax bill for the year?b. Assume the firm receives an…

In the case of Casimaty v FCT 97 ATC 5135, the taxpayer was doing fencing and farming business, which his father inherited an amount of 998 acres land that was known as “Acton View” (Australian Tax Casebook p.162). He then purchased another 40 acres of land, which he built a homestead. As time goes by, he suffered some sort of difficulties as there were drought, severe financial debts, and as well as poor health condition. As he had no alternatives, so he decided to sell-off portions of the land…

Chicago and Seattle: Two Different Stories Chicago, Illinois, is a huge city trying to work for people of all different races working to conduct business, while Seattle, Washington, operates for the same cause. They both operate under the same Constitution which was drawn up by the Founding Fathers of America centuries ago. They also operate under the same President, which is controversially a good leader. While this is true, both cities in the United States have different stories regarding…

the polluter pay for it. Some may also concern the distributional effects caused by the indirect tax. The regressive nature of indirect taxes states that they can create the distribution of income more unequal as there is no equivalent in indirect taxation of the zero-rate band. For example, a tax on wine is paid by both rich and poor consumers. Poor consumers, to some extent, are using more amount of their incomes on wine, the tax on wine will be regressive, as well as the whole indirect tax…

Ireland’s Tax Policies Ireland is a popular country to incorporate a foreign subsidiary due to its incredibly low corporate income tax rate and tax policies. The corporation tax rate in Ireland is 12.5%, (Thomson, 2016) which is incredibly low causing it to become a tax haven. Tax havens are created by tax competition. Tax competition is defined as “the use, by entities that participate in it, of such activities within the tax policy that will allow maintaining or increasing the attractiveness…

Capital assets are those properties that individuals own for personal use.It is said that a capital gain or loss has been got by viewing the difference that exists on final price of that capital and that of its base price. If a capital asset is sold at a price that is higher than its buying price. Some of the examples of capital assets include homes, businesses and other collectibles. Capital gains tax is that is levied on the income from capital gain (US Tax Reform Act of 1986). In America,…

Goal: to list the five reasons why an investor should not buy real estate with a self-directed IRA Total Word Count In This Document: 956 Title: ?5 Reasons an Investor Should Not Buy Real Estate With a Self-Directed IRA? What is a self-directed IRA? A self-directed investment retirement account (or IRA) is an individual retirement account that allows alternate investments for the owner?s retirement savings. These alternate investments can be anything from real estate to private mortgages,…