The Tax Preparation Blog

Posts Tagged ‘ato’

Question: Hello friends i need following info?

I want to find out the income tax rates in western australia ?
do we have to declare and pay taxes on all our salaries and wages?
are we pay taxes only at the end of tax year or monthly it is deduct fro salary?

Answer: This may be some help, look up on the net, state required tax rate Western Australia.
You sound like you need an accountant and your tax should be deducted from you wage or salary unless you had made other arrangements and the end of the taxation year was 30/6/09.
Take care and remember you will have deductions such as the cost of travel. uniforms and more.

How Canada can learn from other countries’ tax choices

Most OECD countries had a better tax mix than Canada did in 2010, but even sensible tax policy does not guarantee sustained economic growth

Peter Schiff – First Ever Radio Broadcast Part 5 of 8

ING Clarion Global Real Estate Income Fund “IGR” Declares Monthly Distribution for December

The Board of Trustees of the ING Clarion Global Real Estate Income Fund , which trades on the New York Stock Exchange under the symbol “IGR”, declared a monthly distribution of $0.045 per share for the month of December 2010.

Universities UK: President’s address to UUK Annual conference

Question: Why does the % of my paycheck withheld go up if I’m paid semimonthly versus monthly?

According to several online calculators, it looks like my tax withholding will be a larger percentage of my income if I’m paid semi-monthly as opposed to monthly. Why is this? I’m expecting to get most of my withheld tax back, so I don’t want to give the gov’t an interest-free loan if I don’t have to.

Answer: It shouldn’t if you have correctly entered the gross salary figure.

For instance, a $4000 per month salary equates to a semi-monthly of $2000.

If you enter the wrong numbers, you’ll get the wrong answer.

GIGO, in other words.

Online federal benefits calculators

– Federal retirement: http://www.opm.gov/retire/tools/calculators/ballpark/menu.asp Employment – United States – Government – Units of Measurement – Business

Tax Withholding Calculator | Liberty Tax Service

Question: Canadian Travelling overseas?

I am planning a trip to Australia and New Zealand, and other parts of the South Pacific. This is going to be a long trip perhaps a year. How does this affect my residence status as a Canadian? I am on a pension income which is low; therefore I am not paying income tax now. I am planning to rent a studio apartment or In-Law-Suite in Alberta. Do I have to return back to Alberta after 5 months, and for how long a period do I have to stay, before I can travel again? I appreciate any information provide, thank you.

Answer: This would affect your residency status within Canada.

Residency is determined by the province in which you reside. In Alberta, the restrictions for being considered an Alberta resident (and therefore able to retain your Alberta Health Care, etc) is that you reside in Alberta for at least six months in a year. This means not just owning property, but physically being present. Obviously you can raise questions about who would know if you are not in the province the whole time, but that is the official regulation.

The residency would not affect your CPP (presuming you are receiving this as part of your pension) as CPP is not limited to Canadian residents so long as you qualify to receive payments. Although you do not necessarily need a Canadian bank to receive CPP, just retain your Canadian bank account and there will be no problems with this.

Australia Beer Market Analysis

Volume growth in beer in 2009 was attributed by leading manufacturers to a follow-on beneficial impact from the collapse of RTDs following the introduction of higher taxes on these products.

ATO grilled over tax return bungle

ATO apologises for income tax return delays

The Australian Tax Office (ATO) has issued an apology for delays in sending out 2008-09 income tax return notices of assessment as a result of an upgrade to its IT systems.

Musings of a seasoned ATO adversary / Australias richest man uses Hybrid Trust