Capital Gains Tax - Main Residence Exemption | The ...

The largest tax concession in Australia is the capital gains tax (CGT) exemption for themain residence. Last year it cost the budget $46 billion and is predicted to cost the�budget...

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Date: 2018-04-05 23:57:29
Website: http://www.tai.org.au

Related topics : capital gains tax exemptions australia / capital gains tax exemption / capital gains tax residence / australia capital gains tax / capital gains tax income

Australia Income Tax

Australian income tax system. Necessary concessions are made on the capital gains. The net capital gains and taxable income of the taxpayer are combined together. Marginal tax rates are applied to the collective amount for taxation. Companies, individuals and other entities in legal ownership of an asset are subjected to pay Capital Gains in the Australia income tax system. Beneficiaries of trusts are liable to pay the capital gains tax whereas in a partnership these taxes are paid individually by each of the partner in the Australia income tax system.

At times of inflation, the CGT is due even if there is no gain from the business. After 1999...

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Website: http://www.australiaincometax.com

Related topics : capital gains tax income / trust capital gains tax rate / australia capital gains tax rate / trust capital gains tax exemption / pay capital gains tax

Property Tax Specialists – Property Tax Specialists

On the journey to accumulate wealth using property as a class of asset investors face a lot of issues and situations.

As property tax specialists, some of the questions we help people resolve include:

Should I sell or hold? Which property should I sell?

Due to high interest rates I am forced to sell some of my investment property portfolio to be able to meet the cash flow pressures. Which...

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Website: https://propertytaxspecialists.com.au

atotaxrates.info/capital-gains-tax/cgt-and-non-residents/

In general, capital gains made by a non-resident are assessable only in relation to taxable Australian property , including real�property and land-rich�Australian companies. A land-rich company has more than 50% of its�asset value in land.

Comparable treatment is available for interests held through a fixed trust.

Non-final withholding tax on taxable Australian property transactions

[update...

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Website: https://atotaxrates.info

Shorten policy hits tax breaks for negative gearing and ...

Bill Shorten has unveiled tax changes that would tighten negative gearing and the capital gains tax discount, saving A$565 million over the forward estimates and $32.1 billion over a decade.

Under pressure to convincingly fund Labor's spending promises, Shorten said the proposals would help fund health and education as well as assist in balancing the budget, and would "bring fairness back into...

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Website: http://theconversation.com

Related topics : investments free of capital gains tax / capital gains tax income / capital gains tax investment property nsw / australia capital gains tax on investment property / capital gains tax investment property

Capital Gains Tax Exemptions - CGT Solutions | Quinns

Exemptions

A capital gain or capital loss you make from any of the following is disregarded:

a car (that is, a motor vehicle designed to carry a load of less than one tonne and fewer than nine passengers) or motor cycle or similar vehicle;

a decoration awarded for valour or brave conduct, unless you paid money or gave any other property for it;

collectables acquired for $500 or less;

a capital...

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Website: http://www.allcapitalgainstaxsolutions.com.au

Related topics : investment property capital gains tax exemptions / trust capital gains tax exemption / capital gains tax exemptions australia / capital gains tax exemption / capital gains tax income

How to calculate capital gains in India to reduce tax

211. How to calculate capital gains on property sold in India - Saving on capital gains

Question: I am a resident in Australia of Indian origin. I had bought a property in India in 1995 and now am planning to sell it. The purchase price of the flat was Indian Rupees 35 lakh. My uncle in India has an offer from someone to buy my flat now for Rupees 105 lakh. The buyer wants me to accept part of...

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Date: 2017-11-05 20:03:07
Website: http://nriinformation.com

The Australia Institute recommends scrapping capital gains ...

Australia Institute wants the rich to pay capital gains tax on their family homes to help the Federal Budget

TAX exemptions for the homes of the super-rich cost the Budget $46b last year. Is this the answer to Australia's financial woes?

Kara Vickery

News Corp Australia NetworkJanuary 11, 20168:32am

The Australia Insitute of Australia wants the capital gains tax exemption for main residence...

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Website: http://www.news.com.au

Related topics : capital gains tax exemptions australia / capital gains tax home sale exemption / australia capital gains tax on investment property / australia capital gains tax on property / investment property capital gains tax exemptions

ATO Clearance Certificate - 2017 Changes Now Required

ATO Clearance Certificate - 2017 Changes Now Required

ATO Clearance Certificate - 2017 Changes Now Required

6 November 2017

|By Kent Kwok

Recent law changes from 1 July 2017 in relation to the ATO clearance certificate will now affect over half of all real estate sales within Australia. Although the new laws target foreign investors, the burden falls on Australian residents to prove themselves in...

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Website: https://whichrealestateagent.com.au

Inheritance Tax In Australia - Sean Paul Kelley

Do you pay tax on money left to you in a will in Australia?

We Answered:

In most cases, the answer is NO!

However, there are always exceptions to the rule and it depends on how you define the terms used. There is no inheritance tax , but the assets of the deceased may be subject to other taxes. A person still subject to income tax and other taxes up to the date of death, with the estate being...

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Website: http://www.seanpaulkelley.com

Venture Capital Limited Partnerships (VCLP) | business.gov.au

Provides venture capital limited partnerships (VCLPs) with a flow-through tax incentive (exemption from capital gains tax for gains made on eligible investments) for foreign investors to stimulate Australia's venture capital sector by attracting foreign investors.

Who can apply:

At a minimum, you must:

be either a limited partnership or an incorporated limited partnership

be established in...

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Website: https://www.business.gov.au

Related topics : income tax assessment act 1997 capital gains / income tax assessment act 1997 and 1936 / income tax assessment act 1997 australia / income tax assessment act 1997 comlaw / income tax assessment act 1997

Australia: Capital gains tax changes for foreign residents

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Australia: Capital gains tax changes for foreign residents

July 2017

Overview

As part of the 2017-18 Federal Budget, the Australian Government announced on May 9, 2017 a range of reforms to reduce pressure on housing affordability and to put "Australians first for...

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Website: https://www.pwc.com

Related topics : capital gains tax residence / capital gains tax exemptions australia / capital gains tax changes / federal tax capital gains 2017 / capital gains tax exemption

Capital Gains Tax (CGT) | Exfin - The Australian ...

Australian Capital Gains Tax (CGT) - An Introduction and FAQ's

Australia has had a comprehensive capital gains tax (CGT) regime since 20 September 1985. Individuals planning to move to Australia or leave Australia should understand the framework of these rules so they do not to trigger any "avoidable" adverse Australian CGT consequences. Some general information is provided below, but Exfin...

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Website: https://www.exfin.com

Taxation in Australia - Wikipedia

History[ edit ]

When the first Governor, Governor Phillip , arrived in New South Wales in 1788, he had a Royal Instruction that gave him power to impose taxation if the colony needed it. The first taxes in Australia were raised to help pay for the completion of Sydney's first gaol and provide for the orphans of the colony. Import duties were put on spirits, wine and beer and later on luxury...

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Date: 2018-04-03 05:22:57
Website: https://en.wikipedia.org

Positive plan to help housing affordability - Australian ...

Capital gains tax discount

When an individual sells an asset for a profit, they make a capital gain equal to the amount of profit on the asset.� They would then pay tax on that gain at their marginal tax rate.

Individuals, trusts are entitled to a 50% discount on the capital gain amount providing they have held the asset for more than one year.

For example:

Jane sells a property that she's...

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Website: https://www.alp.org.au

Dividend tax - Wikipedia

39.6%

20%

Soon after, Congress passed the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA), which included some of the cuts Bush requested and which he signed into law on May 28, 2003. Under the new law, qualified dividends are taxed at the same rate as long-term capital gains , which is 15 percent for most individual taxpayers. Qualified dividends received by individuals in the 10%...

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Date: 2018-04-03 05:20:21
Website: https://en.wikipedia.org

The nasty capital gains tax trap on business sales

The nasty capital gains tax trap on business sales

There's an unfair rule that means the ATO can tax you on money you've never even made.

By Adam Courtenay

Larger text size

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If you're lucky enough to have a strong buyer for your business - and the price is right - you're actually only halfway there. If the deal involves being paid an earn-out fee - whereby the full price will...

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Website: https://www.smh.com.au

Related topics : capital gains tax house sale / capital gains tax sale / pay capital gains tax / ato capital gains tax / capital gains tax rules

What attracts our attention | Australian Taxation Office

What attracts our attention

To help you get things right, you should consider the behaviours, characteristics and tax issues that attract our attention. We've published this information below - it's part of our commitment to transparency in working with privately owned and wealthy groups.

Broadly, the following behaviours and characteristics may attract our attention:

tax or economic performance...

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Website: https://www.ato.gov.au

UK Capital Gains Tax (CGT) for Non Residents Owning ...

The new capital gains tax (CGT) regime in the UK commences at the start of the 2015/16 tax year - in other words from the 6th of April, 2015.

While we await the passing of the legislation in the 2015 Finance Act, the changes are now broadly locked in, and will affect almost everyone who is not a resident of the UK for tax purposes and who is selling a residential property in the UK.

Key points...

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Website: http://www.gmtax.com.au

Capital gains tax exemption changes expected to ignite ...

Capital gains tax exemption changes expected to ignite expat property fire sale

Share

Expatriates will not be entitled to a 50 per cent discount on capital gains if they sell the family home.

Karl Hilzinger

by Joanna Mather

Expat Sasha�Vasiljkovic�is about to put his property in the Melbourne suburb of Williamstown on the market.

He doesn't�want to sell but an� impending Turnbull...

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Website: http://www.afr.com

Related topics : investment property capital gains tax exemptions / capital gains tax home sale exemption / capital gains tax reliefs and exemptions / capital gains tax exemptions australia / capital gains tax investment property primary residence

Capital gains tax in Australia - Wikipedia

Capital gains tax (CGT), in the context of the Australian taxation system , is a tax applied to the capital gain made on the disposal of any asset, with a number of specific exemptions, the most significant one being the family home. Rollover provisions apply to some disposals, one of the most significant of which are transfers to beneficiaries on death, so that the CGT is not a quasi death duty...

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Date: 2018-03-20 07:52:18
Website: https://en.wikipedia.org

Singapore's government says it's not a tax haven, it's a ...

Singapore is not a tax haven, it's a value-adding hub.

That is the claim of the island nation's Economic Development Board, the Singaporean government agency that's been charged with attracting business and investment. It has disputed recent claims at the Senate inquiry into corporate tax avoidance that it's being used as a tax haven channelling billions of dollars for Australian companies.

The...

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Website: https://www.smh.com.au

Related topics : australia capital gains tax rate / government sales tax singapore / investment capital gains tax rate / ato capital gains tax rate / trust capital gains tax rate

Something every Kiwi in Australia needs to know | Beyond ...

I've sometimes thought that perhaps Australia needs to make a few things right with our trans-Tasman cousins.

I'm sorry about the underarm incident. It's embarrassing to think that we'd resort to cheating like that. And sorry that our recent cricketers show such embarrassing sportsmanship.

Also, sorry for all those predictable sheep jokes, and for trying to get you to say "fish and chips".

And,...

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Website: http://www.beyondaccountancy.com.au

Wolters Kluwer Australia | CCH | Australian Master Tax ...

Confidently and quickly navigate all areas of tax with the Australian Master Tax Guide. Access authoritative commentary, practical examples, tax planning points, checklists and key tax rates and dates�with ease.

This edition incorporates the 2017/18 Federal Budget measures and�is up-to-date to 1 January 2018.

An essential reference guide for all accountants, tax lawyers, financial advisors...

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Website: https://shop.wolterskluwer.com.au

Paying Taxes Reforms - Doing Business - World Bank Group

Doing Business Reforms

ENHANCING TAX COMPLIANCE SYSTEMS

Properly developed, effective taxation systems are crucial for a well-functioning society. In most economies, taxes are the main source of revenue to fund public spending on education, health care, public transport, infrastructure and social programs, among others. Tax policy is one of the most contentious areas of public policy. A large...

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Website: http://www.doingbusiness.org

Inheritance Tax - Lawyers and Legal Services Australia

Inheritance Tax

Is there inheritance tax in Australia?

Death duties in Australia were abolished in 1979. However, if an asset is acquired as a result of distribution of a will, there may be a capital gains consequence. If you are in inheriting from a person who died after 1985, there are special rules relating to the records that need to be keep in order to protect any possible investments which...

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Website: http://www.legallawyers.com.au

Related topics : inheritance tax capital gains / australia capital gains tax on investment property / australia capital gains tax on property / australia capital gains tax / capital gains tax investment property primary residence

How to dodge tax in retirement - NewsComAu

tax

Five legal tax dodges to keep more money in retirees' pockets

YOU shouldn't pay more tax than you legally have to. Here are some strategies to cut your bill.

ANTHONY KEANE

News Corp Australia NetworkFebruary 24, 20151:22pm

Many retirees can save a lot of money but structuring their tax correctly.Source:Supplied

DODGING tax is different to dodgy tax, and retiring Australians have plenty of...

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Website: http://www.news.com.au

ATO likely on alert for cryptocurrency claims during tax ...

ATO likely on alert for cryptocurrency claims during tax time

By Michael Croker

Updated March 06, 2018 07:27:31

Map: Australia

Depending on who's talking, cryptocurrencies are either the next big thing or the currency of the underworld. But an increasing number of chartered accountants say their clients are interested in the tax ramifications of investing in this latest barbecue...

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Date: 2018-04-05 23:30:28
Website: http://www.abc.net.au

The taxman is after your bitcoin profits — though the law ...

"Any financial gains made from the selling of bitcoin will generally be subject to capital gains tax (CGT) and must be reported to the ATO," a spokesperson from the tax office said.

But this remains a grey area that is yet to be tested in a court of law.

Until that happens, the ATO has advised cryptocurrency owners to keep good records of their intentions, transactions, and who received...

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Date: 2018-04-05 23:30:35
Website: http://www.abc.net.au

Related topics : ato capital gains tax bitcoin / investments free of capital gains tax / income tax long term capital gains / investment capital gains tax / ato capital gains tax

The trouble with foreign withholding taxes | Advisor.ca

The trouble with foreign withholding taxes

Justin Bender and Dan Bortolotti�/�May 16, 2014

More articles on:

RBC GAM, IGM Financial report mutual fund sales, AUM

Canadian investors get an enormous benefit from diversifying their portfolios with U.S. and international stocks. But this benefit carries a cost: foreign withholding taxes.

Many countries impose a tax on dividends paid to foreign...

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Website: http://www.advisor.ca

Tax system in Zurich, At Work in Switzerland - EasyExpat

Phone: +41 (0) 43 412 33 11

Direct Taxes

All persons resident in Switzerland are liable for the taxation of their worldwide income and assets, except on the income and wealth from foreign business or real estate.

Income Tax

Income tax is levied on both income from work (wage) and income from personal assets (interest, dividend). However, capital gains on private property (such as profits from the...

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Website: http://www.easyexpat.com

ATO Tax Rates 2017 - atotaxrates.info

�19c for each $1 over $18,200

�$37,001 to $80,000

�$3,572 plus 32.5c for each $1 over $37,000

�$80,001�to $180,000

�$17,547 plus 37c for each $1 over $80,000

�$180,001 and over

�$54,547 plus 47c for each $1 over $180,000

Levy on higher income earners

A Federal Budget 2014-15 measure applied a Temporary Budget Repair Levy of 2% to taxable incomes in excess $180,000, to take effect...

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Website: https://atotaxrates.info

New Zealand company registration - Healy Consultants

Specifically, what deliverables (click link) do you need?

What is your US$ budget for the services you need?

What does quality customer service mean to you?

How do we contact you?

For now, do you prefer Healy Consultants PLC staff to phone you, or just email reply you with some corporate solutions?

If a phone call, on what number can our senior Consultant call you?

If an email, what email address...

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Website: http://www.healyconsultants.com

Related topics : new capital gains tax rates / new capital gains tax exemption / new capital gains tax / low income housing tax credits new york / australia capital gains tax rate

Capital gains withholding clearance certificate ...

Capital gains withholding clearance certificate application online form and instructions - for Australian residents

Australian resident vendors should use the Foreign resident capital gains withholding clearance certificate application form to notify us foreign resident capital gains withholding doesn't need to be withheld from the sale of taxable Australian real property (the asset).

It provides...

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Website: https://www.ato.gov.au

Bitcoin and crypto-currency investment in an SMSF ...

The recent surge in the price of Bitcoin has many investors seriously looking at crypto-currency as a part of their SMSF investment portfolio.

So, can an SMSF invest in bitcoin and crypto currency, and if so, what must trustees and advisers be aware of?

There are a number of key areas that trustees need to consider and address if they are looking if invest their SMSF monies into Bitcoin and other...

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Website: http://www.superfundpartners.com.au

Related topics : ato capital gains tax bitcoin / capital gains tax investment property ato / australia capital gains tax on investment property / capital gains tax investment property / investment funds capital gains tax

The ATO is coming for crypto traders | Business Insider

The Australian Tax Office (ATO) is establishing a taskforce to monitor cryptocurrency transactions, according to a report in The Australian Financial Review .

The taskforce aims to ensure cryptocurrency investors are paying the correct amount of tax.

A team of specialists across tax law, technology, banking and finance will devise strategies to follow the money on gains made from investment in...

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Website: https://www.businessinsider.com.au

Related topics : ato capital gains tax bitcoin / investment capital gains tax calculator / ato capital gains tax / australia capital gains tax calculator / calculating capital gains tax

Corporate tax - Wikipedia

51%

Other corporate events[ edit ]

Many systems provide that certain corporate events are not taxable to corporations or shareholders. Significant restrictions and special rules often apply. The rules related to such transactions are often quite complex.

Formation[ edit ]

Most systems treat the formation of a corporation by a controlling corporate shareholder as a nontaxable event. Many systems,...

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Date: 2018-04-03 05:21:10
Website: https://en.wikipedia.org

Valuations WA Perth Property Valuers Your First Place To Call

contact us

A company where you can talk to the valuer!

Valuations WA is an independent Perth Property Valuation and Real Estate Consultancy company. Located in suburban Osborne Park our office provides property valuations and real estate advice across Western Australia, with professionlism, accurately, efficiently and at a competitive rate.

Our Osborne Park office has traded as a valuation...

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Date: 2015-10-03 10:17:40
Website: http://www.valuationswa.com.au

Related topics : real estate tax capital gains / tax laws capital gains / capital gains tax property sale / australia capital gains tax on property / australia capital gains tax rate

Tax Law - WWLP

Foreign-source Income�

Under Australian taxation laws, a resident of Australia is liable, subject to exceptions and exemptions, to Australian income tax on their worldwide income or income from a foreign source.�

If an Australian resident receives income or other taxable amounts from a foreign source in or outside Australia, they are required at the end of each financial year to declare in...

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Website: http://www.wwlp.com.au

Related topics : individual income tax return / tax credit pension income amount / resident income tax return / capital gains tax income / return on income tax

Breaking news - Capital Gains Tax exemption - Oz Kiwi

New Zealanders are not foreign residents, and therefore not captured by the proposed CGT changes. In any event, and without getting into the intricacies of defined terms, New Zealanders are captured by the definition of Australian Residents in the Income Tax Assessment Act.

The above has been confirmed by the Treasurers office via our political contacts and separately via diplomatic contacts, that the proposed changes are not intended to apply to New Zealanders.

09 August 2017

The example below is taken from�the...

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Website: http://www.ozkiwi2001.org

Related topics : new capital gains tax exemption / new capital gains tax / capital gains tax exemptions australia / capital gains tax exemption / capital gains tax residence

Commonwealth Bank, Australia Branch & ATM Locations

$

You will pay $ interest straight into the pocket of the lender. Ouch!

Note, when you consider the total repayment of a loan, you must take into account factors like inflation, capital gains and tax...

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Date: 2015-03-15 10:14:14
Website: http://www.commonwealthbanklocations.com

Related topics : capital gains tax relief / capital gains tax home / capital gains tax home sale / capital gains tax sale / pay capital gains tax

ATO Tax Rates 2018 - atotaxrates.info

�19c for each $1 over $18,200

�$37,001 to $87,000

�$3,572 plus 32.5c for each $1 over $37,000

�$87,001 to $180,000

�$19,822 plus 37c for each $1 over $87,000

�$180,001 and over

�$54,232 plus 45c for each $1 over $180,000

Temporary Budget Repair Levy ends

Legislation passed in 2014 applied the Temporary Budget Repair Levy of 2% to taxable incomes in excess of $180,000 for a period of...

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Website: https://atotaxrates.info

Managed Funds Fee Calculator - Vanguard Investments

Welcome to the Managed Funds Fee Calculator. Use this calculator to assess the effect of fees on your investment balance over a period. Compare the effect of fees in your current fund against Vanguard's Investor Index Funds, Vanguard's Wholesale Funds or against another fund of your choice.

The calculator makes various assumptions when generating results. Changing the...

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Date: 2017-06-27 15:29:04
Website: http://insights.vanguard.com.au

Tax Deductions For Uber Drivers & Rideshare Drivers ...

As tax time rolls around again, Uber drivers and rideshare drivers across Australia will�be looking to maximise their tax deductions. This article explains�the different options for claiming your vehicle expenses, how to keep a logbook, as well as a range of other potential tax deductions for rideshare drivers.

Motor Vehicle Expenses

There are two different methods available for claiming...

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Website: https://www.drivetax.com.au

::Income Tax Guide for Foreign Company:: - rd.go.th

Other income such as interests, royalties, capital gains, rents and professional fees

15%

Tax Registration

A foreign company carrying on business in Thailand, whether setting up a branch or an office must apply for tax identification number from the RevenueDepartment. An application form (Lor Por 10.3) together with other relevent documents i.e. a copy of a company's registration license, house...

Read more

Date: 2016-03-18 09:23:39
Website: http://www.rd.go.th

Ultimate Australia Investment Property Calculator

Content - which shows what are included in the Ultimate Investment Property Calculator

Investment Property Assumptions - where you can input all the information about your properties

Property Portfolio 30 Years Summary - which shows the brief summary of your property Portfolio

Property One Page Summary - which shows one-page summary of any property or the portfolio

Property Snapshot - which shows...

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Website: https://www.investmentpropertycalculator.com.au

Related topics : capital gains tax investment property calculator / australia capital gains tax on investment property / investment property capital gains tax rate / capital gains tax investment property / investment capital gains tax calculator

Tax law - Wikipedia

Taxation of capital gains versus labor income. [1]

Ecotax (short for Ecological taxation) refers to taxes intended to promote environmentally friendly activities via economic incentives.

Tax evasion and avoidance leading to reduced government revenue.

Due to an Inefficient tax system in many underdeveloped countries, the majority of small businesses are not taxed.

Education[ edit ]

The examples...

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Date: 2018-04-03 05:20:02
Website: https://en.wikipedia.org

Related topics : tax laws capital gains / canada income tax capital gains / estate tax capital gains / capital gains tax income / federal tax capital gains 2015

Payments That Are Subject to Withholding Tax - IRAS

Nature of Payments That Are Subject to Withholding Tax

The following types of payments attract withholding tax when paid to non-resident companies:

Interest, commission, fee in connection with any loan or indebtedness ;�

Royalty or other payments for the use of or the right to use any movable property;�

Payments for the use of or the right to use scientific, technical, industrial or...

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Website: https://www.iras.gov.sg