Hire Australian Law Tutors and Taxation Writers
About Australian Taxation Assignments and expertise in tax related work
The Australian taxation office is considered as the main revenue collecting agency of Australian government. It delivers various economic and social benefits for their betterment and also provides incentives programs timely as per the rules and regulations. The law of Australia is such that it provides a useful reference tool to cover all the major areas of its law. It operates under the public governance, it is known for its expertise and the services that are provided by them. Their mission is to make willing participation in the tax and superannuation system of that country.
They help people in understanding their rights, made them availability of benefits and also manage the non compliance with the law if any. They mainly focus on the achievement of their goals and mission set at the very beginning and they operates towards to meet the better needs of the community as a whole. They also deliver their commitments to government on time to improve their area of working that why they set a path for reinvention.
They have the vast area of working in their taxation system like taxes related to different fields. In this we can include corporation tax, property tax, sales tax, retirement tax, income tax and many more and every tax has its own value in its own way. We should have the depth knowledge and remarkable research to excel in our Taxation Law assignment, as every country has its different tax laws. Thus tax laws play an important role in the management and economy of a country and it's necessary to have certain knowledge about them so that there would be smooth running of the taxation policies.
HELPING STUDENTS IN AUSTRALIA LAW/ TAXATION/ ASSESMENT
The taxation policies of all the countries are same mainly but according to Australian law it varies in some cases, here there would be higher tax if there is higher income which means tax is negotiated as per the income of the individual or corporate entity. The different types of taxes which can be discussed are as follows-
Income tax- Expertsmind as in assignment helper group is proficient enough in dealing with the taxation assignment of the students. As in income tax law is concerned it is the tax which is levied on the personal income of a person. According to the Australian law it is in progressive rate which means higher the income and higher will be the income tax. In general sense it is kind of a tax that is imposed by the authority on the financial income of individual, sole proprietor, partnership firm, or any other firms entitled to pay the tax. This tax varies from income and profits of the individual as the case may be, and it is payable in the country where we are residing which means the resident country. Income tax is the basic source of governments revenue through which it serves the public. There are various slab rates applied to the individual's income depending upon the income. One has not to pay income tax if not fall in that category.
Corporation tax - Assignment related to the corporation tax is best dealt by the taxation experts and professionals of the Expertsmind group. As in general regarding the corporation tax the particular stream of taxation is levied on the income of the company whether private company or public company which is registered under the companies act 2013 or any other previous act as specified. It is imposed on the net profit of the company because net profit shows the financial status of the business after certain deductions being made.
Property tax - Expertsmind group has proficient experts in the segment of property and related taxation assignment. These assignments are related to tax which is paid to the government by the land owner or municipality of that local area. Property here means all real estate property, house, office premises or any other property which is being rented. Amount of tax is calculated on the basis of area covered for the property, property size, building etc.., and the tax so collected is utilized by the government for repairing roads, construction of schools. Property tax includes the tax related to electricity, water facility, drainage system etc.
Sales tax - Sales tax is the tax imposed by the government on the sale of goods and services, this tax is payable at the time of purchase of goods and services. There are certain goods and services on which there is no need to pay any kind of tax, they can be treated as tax free products.
Toll tax- Toll tax is the tax paid for the toll roads, toll roads are those private or public roads for which a fee is to be given to get assessed. This tax helps the government in construction of new roads and maintenance of the old ones, toll taxes are collected at points which is known as toll plazas, toll gate or toll booths. The amount of toll tax depends upon the vehicle type, weight of vehicles and its wheels; usually the amount of toll tax is higher as comparison to cars.
Wealth tax - Assignment related to the Wealth tax is the key USP of the expertsmind group, the professional experts of the group delivered the best assignments in past and has a wide experience in the particular segment. Wealth tax can also be called as an equity tax which is imposed on the market value of the assets that are owned by the individual, these assets includes cash, bank deposits, shares, jewellery, fixed assets etc. It is imposed on the net worth of an individual, which is calculated by deducting liabilities from the assets. It falls under the wealth tax act 1957 and it extends to whole of India.
Retirement tax- Retirement is that point where a person stops employment completely, retirement can be in the form of semi retirement also where working hours get reduced. One may get retired if they are eligible to get pension after the retirement; retirement is given as per the age factors. This tax is payable on the amount of pension which will be received after the retirement, generally the age of retirement is considered to be 50-70 years for males and it may vary in case of females.
Inheritance tax- It is the tax which is paid on the ancestral property. It is the tax paid by the person who inherits the properties i.e. assets of the deceased person, assets are those which is received on the death of certain person. Inheritance tax is not levied in India because it is exempted under section 56(ii) of Income Tax Act 1961.
Value added tax- It is a form of indirect tax which is imposed on the consumption of products, it is imposed at every stage of making product started from raw materials to finished goods. It is different from sales tax because in sales tax, tax is payable on the gross value of goods and services, whereas VAT is payable on value added services only. This tax is not to be imposed on exports of goods. This tax avoids the policy of double taxation i.e. double tax on same thing. There are two methods of calculating value added tax i.e. credit invoice method or account based method. Value added tax is adopted to stop cascading effect.
Capital Gain tax - Capital gain is the gain that arises from the sale of capital assets, capital assets includes land, building, vehicles, patents, and many more. Capital gain is calculated by the difference between the purchase price of property and sold value of it, and capital gain tax is payable on it. This is a type of direct tax which is to be payable by individuals and institutional investors both and it is normally collected by the national government. Capital gain tax can be discussed in two types i.e., long term capital gain tax is arrived if assets are kept for a period of 3 years or more and if assets are kept for a shorter time then it falls under the category of short term capital tax.
Excise- Excise is considered is to be duty rather than tax, and these duties are charged on the goods which are produced within the country, so it is also called as inland tax. It is charged at the time of manufacture or sale of goods, and the liability to pay the duty is always on the producer of that goods. This duty is imposed on narcotics, alcohol and fall under the Excise Duty Act 1944. It is mandatory to pay duty on all manufactured products unless exempted by the government of India under any of the act.
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Taxation knowledge of our experts is so high that it helps us in our accounting policies also, all the work related to tax are in their hands and till the date we haven't got any complaints. Authenticity level has proved to be so high that our team workers are dedicated to complete the assignments before the time also which means in a lesser time. No plagiarism has found till the date which has set the really high standard for us, this all has taken place just because of our dedication towards work or assignment.
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