Taxation in every country is having separate rules and regulations. So every taxation assignment is created accordingly with the professionals’ taxation assignment writing help. Students of that country solve these taxation assignments according to the rules of that country.
What is Taxation System in Australia?
Taxation in Australia exists in various forms. Both the individuals and companies have to pay three levels of taxes. These are local, state and federal levels. As we all know that taxes are paid for public utility services and payment transfers. In other words, it is the redistribution of economy or wealth. The most significant form of taxes is income tax and GST revenue. These taxes are collected by the federal government. The income tax is collected through Australian Taxation Office while the GST revenue is collected and distributed to the states under the Commonwealth Grants Commission. Tax burden in Australia is relatively low as compared to other wealthy countries of the world. Federal government modifies rules from time to time in order to provide its citizens a fair and flexible taxation system.
Forms of Taxes in Australia:
There are several types of taxes levied in Australia as mentioned earlier. Some of these taxes are mentioned in detail as under:
- Personal income taxes: As mentioned earlier income taxes are imposed at federal government level. Most of the money comes from income tax. Higher rates are applicable to higher income levels.
- Capital gains taxes: These taxes are imposed on capital gains made on any asset except for some flexibility. It treats net gains as taxable income.
- Corporate taxes: Corporate taxes are paid by the companies and corporations on their profits made. It is applicable at flat rates of 30%. The tax is paid on corporate income before it is distributed to shareholders as dividends.
- Excise taxes: These taxes are levied on goods such as cigarettes, petrol and alcohol.
- Goods and Services taxes: These taxes are value added taxes levied by the federal government at 10% on the supply of goods and services which are registered under this tax. Many basic supplies such as basic foodstuffs, medical and educational services, financial services, residential accommodations and some exports are exempted from GST.
- Property taxes: Residential and commercial properties of high value are charged property tax.
How to Get Taxation Assignment Help from Professionals?
Taxation system in any country depends upon various factors. These taxes are collected from the individuals and businesses to give public facilities to the citizens. If properly implemented, it leads to the growth and development of the country. Taxation and law students find taxation assignments very complex as they contain various tax laws and acts. To learn these laws and acts is quite difficult so they take professional help from online assignment writing help providers. BookMyEssay is one such online assignment writing help provider in taxation assignments. It has a rich list of authors who with their vast experience solve the taxation assignments very easily and within deadlines. Every taxation assignment is extensively researched and made with great care. BookMyEssay provides assignment writing help for taxation at very nominal charges along with varieties of services. A 24 x 7 helpline is also available which provides the students with facility that they approach us at any odd hour.