Question

Explain the purpose and components of the Australian tax law system. What are its strengths and...

Explain the purpose and components of the Australian tax law system. What are its strengths and weaknesses? How could it be improved? Discuss in relation to any proposals for tax reform that you have read or heard about.

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

The Australian tax system works by charging a higher tax rate if you earn a higher income. It is a marginal income tax system.

Advantages:- Capital Mobility is made easier , Labor mobility

Drawbacks :- it destroys the tax neutrality,  it affects the tax structure of other nations, increase in the cost of tax

Improvement areas :- The solution to this problem lies in establishment of an organization such as OECD which attacks it on a broad multilateral basis.  

Individual investors are required to invest in an OECD member country in order to earn adequate returns on their capital with lesser risks.

OECD member countries witness a concentration of about 85% of the world’s MNCs. This trend is likely to continue because of presence of established commercial and securities law protection to investors in OECD member nations which is not seen in other countries.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Answer each of the following: What is the purpose of the alternative minimum tax and who...
Answer each of the following: What is the purpose of the alternative minimum tax and who pays it? How was the individual alternative minimum tax impacted by the December 2017 tax reform law? Review available tax credits discussed in chapter 12 of the text. Compare the tax credits that you actually take with the tax credits you would like to take. Explain why you made the particular selections. For the tax credit(s) that you would like to take, explain why...
what is the strengths and weaknesses of demand planning forecasting system? Do you believe the weaknesses...
what is the strengths and weaknesses of demand planning forecasting system? Do you believe the weaknesses can ever be overcome? If so how? If not, why not. The issues could be but not limited to management, corporate culture, or the nature of what is being forecast.
The income tax system of the United States is a progressive tax system for individual taxpayers....
The income tax system of the United States is a progressive tax system for individual taxpayers. Whereas corporations pay a flat 21% (proportional income tax system). What surprised you about the tax system in the United States? What experience, if any, do you have with taxation in the United States? As adults, I am sure you are subject to some of the taxes mentioned in the chapter. Lastly, in two or three sentences, discuss any tax-related issue currently in the...
Every tax system has two major components: the item that is being taxed (otherwise known as...
Every tax system has two major components: the item that is being taxed (otherwise known as the tax base) and the rate at which it is taxed. With the income tax, the base is income. Contrary to what congress people might have you believe, however, the base of the death tax is not death. Rather, it is the size of the decedent's estate or the gross estate. How is this determined and, in particular, what is the starting point for...
exercise 6e Construct an IFE Matrix for Nestlé Purpose This exercise will give you experience developing...
exercise 6e Construct an IFE Matrix for Nestlé Purpose This exercise will give you experience developing an IFE matrix. Identifying and prioritizing factors to include in an IFE matrix fosters communication among functional and divisional managers. Preparing an IFE matrix allows human resources,’ marketing’s, production/operations,’ finance/ accounting’s, R&D’s, and management information systems’ managers to articulate their concerns and thoughts regarding the business condition of the firm. This results in an improved collective understanding of the business. Instructions Step 1 Join...
Say's law states that supply creates its own demand. Explain what that means. How realistic is...
Say's law states that supply creates its own demand. Explain what that means. How realistic is that? There is NOT an anti-Say's Law - but if there was - would one that states "demand creates its own supply"be a better, more realistic law? Discuss that.
Course: Canadian Income Tax Goals of a Tax System There are several goals that an income...
Course: Canadian Income Tax Goals of a Tax System There are several goals that an income tax system may be aiming to achieve as laws are created, amended and deleted. These goals can be economic - like raising sufficient money to run the country, political - encouraging investment in the home country rather than in foreign countries and social - ensuring lower income taxpayers pay little or no tax. Do some brief research and post what YOU think should be...
Explain how the Wells Fargo accounting information system (i.e., components and functions) contributed to the fraud...
Explain how the Wells Fargo accounting information system (i.e., components and functions) contributed to the fraud and / or embezzlement. You will need to focus on how each component / function of the accounting information system failed, which resulted in the scandal / case. Evaluate what changes should be made to both the Sarbanes-Oxley Act of 2002 and other current laws in order to make them more effective in deterring companies from committing crimes. Please include any websites/references used
Reexamining the Moving to Opportunity Study and its Contribution to Changing the Distribution of Poverty and...
Reexamining the Moving to Opportunity Study and its Contribution to Changing the Distribution of Poverty and Ethnic Concentration. By WILLIAM A.V. CLARK  (Clark, 2009) Briefly describe the program, its theoretical/planning framework, program objectives, study design, sample, evaluation components (e.g., needs assessment, process, impact, outcome), whether the evaluation utilized qualitative or quantitative methods, and the evaluation tools used. Indicate what was learned from the evaluation. Provide a critique of the evaluation and how you think it could have been improved. Discuss what...
Write a paper describing in detail your business interests or career plans and how constitutional law...
Write a paper describing in detail your business interests or career plans and how constitutional law applies to them. Describe in detail what kind of business you want to own/operate or what occupational field you want to work in. Then describe at least three ways in which constitutional law applies to your business/field. For example, suppose your business needs property for its operations. You could explain how the constitutional law concept of eminent domain applies here and how it would...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT