Understanding Australian Tax services

A tax is financial charge which is imposed on the citizens of a country by the state government. It if for the benefit of the people only as the government spent half of this in carious services which are to be provided by the government and the remaining money serves as the salaries of the government employees. There are various types of taxes which one has to pay but here we are talking significantly about Australia. You must have complete information about Australia Taxation Services.

The first type of tax which we will talk about is VAT. The full form VAT is value added tax. It is to charge on goods services usually the government charges this tax from the shop keepers of various commodities, but as we are the final consumers of the product we have to pay that tax too. This is a type of tax which equal for everyone, there is no difference between rich and poor as in various cases one has to pay the tax according to the income.

Another form of Australian taxation which is imposed on the corporate companies of the Australia is corporate tax. It is imposed on the companies. The amount of the tax is not fixed but other than this the rate of percent by which the tax would be paid by the companies is decided. All the companies have to pay 30% of tax on their corporate income. The companies which are working in a partnership do not have to pay this tax but the companies who have single owners are not exempted from the tax. You must get online for Tax Services Australia.

The government of Australia also charges tax on the gain of the capital tax. This type of tax is known as capital gain tax. The capital gain tax is only imposed on the properties but some propertied are also there on which this tax is not charged by the government and some of those properties are mentioned below:

 

1.    The most important of all the properties on which this tax is not charged is the residential property or the property on which a person is living.
2.    There are various times when the owner of the property suffers from huge capital losses, so in such situations the government of Australia has decided not to impose tax on them. 
3.    Another types of assets on which tax is not levied is the assets which are acquired before 19th September 1985. This is because of the reason that these taxes are treated as pre CGT assets; the full form of CGT is pre capital gain tax assets.

These were the taxes which were imposed on the things other than the income. But one has also to pay the tax on the income earned by him or her in a year. The schedule written below tells us the taxes which are to be paid by a person on the income:
0-$6000-----nil
$6001-$37000-----15c for each one dollar above $6000
$37001-$80000------$4650 plus 30c each for $1 over $37000
$80001-$180000-----$17550 plus 37c each for $1 over $80000