CLAW3201 Lecture Notes - Lecture 1: Taxation In Australia, Shampoo, Tax Rate
4 Aug 2018
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Case law: (cid:272)o(cid:373)(cid:373)o(cid:374) la(cid:449) (cid:894)judges(cid:859) de(cid:272)isio(cid:374)s(cid:895): ato rulings: not technically law merely opinions expressed by commissioner on how rule applies. Thus, burden of the tax sits on consumer. If the hairdresser did not sell any shampoo, input tax credit can still be received from ato: key features, turnover tax (not income tax): if business has turnover of at least ,000, must register for. Gst: taxpayer: supplier of goods and services (aka tax collector) but consumer actually pays tax, taxable transactions: consumption of goods and services in australia, tax rate: 10% flat rate on goods and services, types of supplies. If export out of australia, not charged gst but can claim input tax credits. Income tax rates: resident individuals progressive tax. Tax arbitrage tax rates: between individual and corporate tax rates anti-avoidance rules, e. g. personal services income regime, constructive dividends of private companies, between countries: tax havens; low tax countries.
