Australian Taxation Laws

Running head: AUSTRALIAN TAXATION LAWS 1
Australian Taxation Laws
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AUSTRALIAN TAXATION LAWS 2
Australian Taxation Laws
Over the years, nations have been supporting themselves on the platform of imposing
an income tax on its citizens to increase its revenue. This is because the government cannot
function without funds. Thus, to ensure that there are enough funds to operate the nation’s
activities, they typically collect taxes from their citizens. The term income tax can be defined
as a tax imposed on a taxpayer that varies depending on an individual’s income or profits,
(Buenker, 2018). It has been a major concern to many governmental institutions such as the
Australian government on the rise of collaborative innovations/economy and the phenomena
of the ‘micropreneurship’ and related concepts. This has resulted to the notion of its negative
impact to the global market on the serious risk it often raises in relation to public safety,
worker’s rights, accessibility, and tax (such a tourism and hotel taxes), (Ault & Arnold,
2010). Therefore from the Australian government ideological perspective saw these concepts
through analytical research that they usually exists in a regulatory grey area or in outright
contravention of existing laws despite the fact that these services have proven popular and
beneficial to many consumers.
Expenses divide by the gross salary (45,000 + 5,865) ^ 50,000= 1.0% income tax
payable by Jane Herman. Through the deductions experienced by Jane due to the her jobs and
employment cannot be compared to the amount she receives through purchasing of shares,
investment property, the Accounting professional job she has in the State of New South
Wales. Jane Herman does not depend on the gross salary she receives from Milton Hotels in
Sydney. Thus, all the benefits/amounts she received from her earnings with respect to
employment are added in a assessable income such as performance bonus of $25,000, and
clothing allowance from Milton Hotels of $4,500. According to the Australian Taxation Law
states that the beneficiary tax offset is available if you receive certain Australian Government
allowances and payments. You pay no tax for the year if you only receive any of the

AUSTRALIAN TAXATION LAWS 3
qualifying benefits and allowances, and have no other taxable income. Thus, Jane Herman is
exempted from paying tax of benefits and allowances received during that year.
Jane Herman has received a lot of benefits from her property which totals to $13000
as the rental income and the related outgoings on the property is approximately $2200. As an
Australian Citizen, she is entitled to pay her income tax every month, (Oats, 2012).
Therefore, this shows that she is also entitled to income tax purposes and they have to lodge
an Australian tax return, (Johnson, S. and Breunig, R., 2016). According to the Australian
Taxation Office all benefits received by an individual should be included in the assessable
income. The term assessable income can be defined as gross income including rent,
dividends, salary and wages, and interest before any tax deductions are allowed. Thus,
earnings Jane received will be added to her income before any tax is deducted by the
Australian Government. Examples include dividends, income from investments, bonuses, and
overtime income received by an employee. All these are included in the assessable income of
Jane Herman. Jane Herman in the end of the year 30 June 2018 she has received bonuses,
allowances, income from investment, dividends that were included in the assessable income.
The management, unions and the state play a major role in improving the satisfactory
and participatory of employees. The state legislative rules that governs the labour market and
provided a social safety web has reduced the amount of financial condition. As for
management, there's no denial of the importance of structure culture (shaping of workplaces)
in worker satisfaction. However, some fail to acknowledge the impact they need in shaping it.
It’s typically believed that cultures of a geographic point area unit planned, tho' this can be
false, (McCallum, 2008). Australian law deduct outgoings incurred for Australian income tax
purposes. However, Expenses specified under income tax law as non-deductible include:
fines and penalties imposed under an Australian or foreign law, or ordered by the courts and
borrowing expenses related to a loan that was taken out to pay a federal tax liability.