myGovID is a multifactor authentication service that allows the users to prove who they are online. It is available as an app through the Apple App Store or Google Play Store and is compatible with Apple devices using iOS 10 or above and any Android devices using Android 7.0 or above. You will be able …
Income taxes are returned, settled and litigated on an annual basis. The taxable year for most taxpayers is the 12-month period opening 1 July and closing the following 30 June. In certain circumstances, a substituted accounting period of 12 months closing on a date other than 30 June may be adopted (¶9-010). Income tax is …
The “sharing economy” is a term used to describe economic activity that connects buyers (users) to sellers (providers) of goods and services through an online platform (an app or a website). Such online platforms are usually hosted by a facilitator who is neither the provider nor the consumer of those goods and services. Popular sharing …
Under the “classical” system of company tax that operated from 1940, a company was taxed as a separate legal entity and individual shareholders were taxed on dividends received without any recognition of the tax paid by the company on the profits out of which the dividends were paid. An inter-corporate rebate, however, usually effectively freed …
Residence and source If a taxpayer is a resident of Australia, the taxpayer’s assessable income includes all ordinary income and all statutory income from all sources, whether in or out of Australia (ITAA97 s 6-5(2); 6-10(4)). However, if the taxpayer is a foreign resident, the taxpayer’s assessable income includes only ordinary income and statutory income …
