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Taxation Assignment Help in USA, UK & Australia

Taxation is a medium of imposing charges on citizens by which the government of any country finances their expenditure. Governments use taxation to involve or devolve citizens into specific economic decisions. For example, reduction in taxable personal income by the amount paid as interest on home mortgage loans results in greater construction activity and generates more jobs. It is a system that is inculcated by every developed nation of the modern world with the intention of proposing sustainable development. Every individual comes at a point where he or she has to pay the taxes. It is obligatory for every individual of the specific age and it is considered as breach of law in case he or she fails to fulfill the same.

The demand for smart taxpayers has been increasing at a rapid rate because of the increasing number of people coming under the tax bracket. This has had a causal effect on the number of students opting for this subject. The assignments in this particular subject weigh a lot and every student must perform well to achieve the excellent grade. But there are many other problems that hinder the students from writing the assignment. Therefore, we at EssayCorp provide taxation assignment help at a very nominal rate.


Classification of Taxes


Direct Tax

As the name suggests, direct taxes are tax levied on the citizens directly by the government. These are the taxes that an individual has to pay from his earnings, i.e. in the form of salary or compensation of some sort. Government all around the world collects this tax and it is one of the largest sources of revenue for the government of any country. This tax helps the government to fund many of its developmental activities. The rate of tax under this varies from country to country. In our taxation assignment help and other services, our writers explain the various methods for the calculation of direct tax.

taxation assignment help
indirect tax
Indirect Tax

The meaning of indirect tax is quite revealing from the name itself. It is the tax levied by a government on its citizens indirectly in the form of goods and service tax and many other such taxes. The sales tax is charged in different countries by different names. Some of the other famous indirect taxes include service tax and excise duty. Unlike direct tax, the burden of paying an indirect tax can be passed on to someone else. For more information on the calculations and other details about indirect tax, take the assistance of EssayCorp with taxation assignment help, homework help or any other writing services.

Different Taxes Imposed and Studied In Different Countries
  1. Federal Income Tax - It is a tax imposed on the annual income by the national government. It constitutes the major part of the revenue of the government.
  2. State or Local Income Tax – This tax is imposed by state or local government on annual income. Though, not all governments have implemented state level income taxes.
  3. Payroll Tax - It is a tax that is paid by the employer on behalf of its employees on the basis of the salary of the employee. In countries like the United States, both state and federal authorities collect some form of payroll tax. In the United States, Medicare and Social Security, also called FICA, make up the payroll tax.
  4. Unemployment Tax - A federal tax that is allocated to state unemployment agencies to fund unemployment assistance for laid-off workers.
  5. Sales Tax - Sales taxes are the taxes that are imposed by the government on the goods purchased and are collected by the retailer and are then passed to the state. Sales tax is based on a percentage of the selling price of the goods and services and is set by the state. Technically, consumers pay sales taxes, but effectively, the business pays them since the tax increases consumer costs and causes them to buy less.
  6. Value-added Tax - A national sales tax collected at each stage of production or consumption of a good. Depending on the political climate, the taxing authority often exempts certain necessary living items, such as food and medicine from the tax.
  7. Corporate Tax - The corporate taxes in Australia are imposed at 30% flat rate. Employees, as well as companies, need to pay tax to the federal government in Australia for profits earned. Prior to the distribution of profits (as dividends) amongst the shareholders, the corporate tax is paid to the government. Franking credit is the tax credit in Australia, is made available to the shareholders so that they can see the corporate tax, which has already been paid. The above- mentioned procedure is known as dividend imputation.
  8. Inheritance Tax - Among all the other taxes that are imposed in Australia, Inheritance Tax is also included. They don't have inheritance tax in general, but in the events when there are estate acquired assets, the assets are subjected to the Capital Gains Tax or the CGT. The Australian government envisages that, if individual inherited assets from a deceased person who breathed his last after September 20th, 1985, special records are required to be maintained. If the asset acquired was prior to 20th September 1985, the asset value at the time of death is too evaluated.
  9. Income Tax - Different types of taxes in Australia also include income tax. Income taxes form the main sources of revenue for funding the different activities of the government, especially the federal government. Income tax is levied on individuals who fall under the taxable group of people. The idea of income tax took birth in Tasmania in 1880. During that period tax was imposed to collect money from the people of Tasmania, as the government in Australia was not in a good state. Thereafter, income tax was levied on the income of the people residing in Southern regions of Australia. By 1907, income tax was levied on the income of almost all individuals residing in all the states of Australia. Low Income Tax Offset, Family tax benefit as well as capital gains tax are the different categories of income tax levied on the income of individuals along with personal income taxes.
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Topics we cover in
Taxation Assignment
  • Basic Income Taxation Concepts
  • Capital Gains and Capital Losses
  • Federal income taxation
  • Tax Practice and procedure
  • Introduction to corporate Taxation
  • Taxation of intellectual Property
  • Tax and Technology
  • Tax Accounting and financial Statement
  • Criminal Tax
  • Tax law Research
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