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The taxation process of each country is different, we receive country specific taxation assignments from students. Our expert tutors and writers work only for the taxation assignment help in Australia. They are well versed with the latest information regarding the Australian Taxation System. We provide you the unmatched quality of Taxation assignments with 100% surety in terms of originality and creativity of the content at the best price. Our prices are the cheapest in the whole market. Don’t worry; if you come across any sort of problem, you can contact us at that very time. We ensure that your queries get solved soon. Our experts are available all the time for the student’s service. With us, you don’t have to get stressed about anything.We ensure that students connected to us get the most out of our Australian Taxation assignment writing.
Australian Taxation Assignment Help
Understanding Australian Taxation & Solving Its Assignments
Planning to go to Australia, it is must to know the Australian Taxation system if you be there. One of the highest taxes generating country in the world is Australia. You can save thousands of dollars of tax by adopting some of the tips in Australia. Once you become a resident in Australia, you can stay there six months continuously after that you will be taxed on the income that you earn there. Also, you will have to pay taxes for the overseas earning. Whether you have earned the income in Australia or not you will be taxed on all the income sources. This means that once you immigrate to Australia and you still hold bank accounts in the UK, then the UK will be taxed in Australia. It then has to be included in the Australian income tax return.
TFN (Tax File Number)
You have to apply for the TFN i.e. Australian Tax number once you arrive here. You can do this with the help of Australian Taxation Office website. For the employment and return of income tax you need to open the bank accounts which need the Australian TFN. The tax file number needs at least two – three weeks to be issued so once you go to Australia it is one of the first things that you must apply for. If you delay the application of a tax file number it could hold up you opening up bank account and finding employment.
Some of the Forms Of Taxes & Excise Duty in Australia
- GST (Goods & Service Tax)
The rate of the GST (Goods and Services Tax) is nearly 10% in Australia. GST is kind of a very difficult and complicated tax. If you are thinking of settling in Australia then your business should make up the sales more than $50000 in a year. So remember, if your turnover is expected to be over this, you are required to register GST and comply with the GST requirements.
Personal income tax is the most important source of revenue in Australia. It is imposed by the federal government; the state government does not impose these taxes. This tax is imposed on the personal income of every person on progressive basis which means higher rates for higher level of income and lower rates for lower level of income. Personal taxes are imposed on the individuals and not on the family.
Companies and corporations pay company tax on profits. The corporate taxes are calculated at the percentage of 30. This tax is paid on corporate income at the corporate level before it is distributed to individual shareholders as dividends.
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