Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
An organization in Australia needs to comply with the statutory requirements of taxation. There are different types of taxes among which a few are common for all the industries and others are applicable to specific industries. Considering the case of the current organization, which is into the business of hotel as well as restaurant industry, the organization needs to comply with the following taxation:-
1. Pay as you go (PAYG):- The tax is applicable for all the industries and it is the withholding tax the company needs to deduct from the salary of the employees and pay to the Australian Taxation Office along with the required details within required timing.
2. Goods and Service Tax (GST):- This tax is applicable for the products and services being sold. The applicable rate in most of the cases is 10%. The organization needs to get itself registered with the taxation office in case their revenue crosses the threshold limits.
3. Fringe Benefit Tax:- Employer provides certain benefits to the employees in place of salary and wages. These are normally the non monetary benefits or the gratuities or other services offered to employees. Organizations need to pay taxes on this, which is termed as Fringe Benefit Tax.
4. Superannuation Guarantee Scheme:- In Australia, all the employees are covered under the legislation of Superannuation Guarantee. In this case the employer needs to contribute for the fund for all the eligible employees at least once every quarter. The fund has a purpose of ensuring sum of money to the employees superannuating
5. Payroll Tax:- This tax is payable by the employers in case their total payment of wages and salaries exceed the threshold limit.
Investment T ax Credit A reduction in corporate income taxes is equal to a percent of the cost of a new asset in the year that the new asset is placed in the servic
Rubric Item #12(b) -- Margaret''s Own Interest in Father''s Trust
How do I find the original price of an item after the tax was placed?
The taxpayer exchanges property in 2010 with a fair market value of $5,500,000 that has a basis of $750,000. The property is also subject to a mortgage of $2,500,000. The taxpaye
interest of late payment tds nature of payment code
The following items caused the only differences between pretax financial income and taxable income. • In 2013, the company collected $90,000 of rent; of this amount, $30,000 was ea
Several years ago, Magdelena purchased a new residence for $300,000. Currently, the outstanding mortgage on the residence is $260,000. The current fair value of the home is $330,00
how to cite a legal case in the assignment?
"The $3,600 of property taxes for the house were prorated with $1,950 being apportioned to the seller and $1,650 being apportioned to the buyer. In December of the current year the
Billsby Corporation had a tax liability for 20X7 of $20,000 based on a tax rate of 40%, but the accounting staff needs your help in determining the tax expense and deferred tax amo
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd