Assignment On Manage Finances Taxation Houzit Pty Ltd
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Added on 2020-02-19
Assignment On Manage Finances Taxation Houzit Pty Ltd
Added on 2020-02-19
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Running head: MANAGE FINANCESManage FinanceName of the StudentName of the UniversityAuthor Note
MANAGE FINANCES2Table of ContentsTable of Contents.................................................................................................................2Task 1:.................................................................................................................................3AnswertoQuestion1.....................................................................................................3Answer to Question 2......................................................................................................3Answer to Question 3......................................................................................................4Answer to Question 4......................................................................................................5AnswertoQuestion 5.....................................................................................................6AnswertoQuestion7....................................................................................................7Answer to Question 8....................................................................................................8Task 2.................................................................................................................................11Answer to Question 1....................................................................................................11Answer to Question 2....................................................................................................12Answer to Question 3....................................................................................................12Answer to Question 5....................................................................................................14References..........................................................................................................................16
MANAGE FINANCES3Task 1:AnswertoQuestion1.Identifythecurrentstatutoryrequirementsforthe taxcompliance andlistandcalculatethetaxliabilitiesforHouzitPtyLtdundertaxation legislationThe requirements according to the statutory regulation that is about 9% of thewages and also the salaries of each and every quarter and tax for the payroll is 4.75% thatis in comparison to the wages and the salaries of that particular quarter. Thecompensation that is being paid to the worker is 2% of the total salary that is being paidas wages and also the salaries. The company’s annual taxes are 30% of the net profit thatis being generated by the company. (Latina, Paraskevas and Jang, 2015)Answer to Question 2Identifythecurrentcompliancerequirementsandliabilities forthisorganizationundertheCorporationsAct2001. For the corporation Act 2001, that in comparison with the value of the assets ofthe organization, the total amount of disclosed assets and reports of the year. The basicrequirement according to the law the basic reports that are to be kept are as follows:General recording in the ledger for the transaction that is being carried out and Records of cash, debtors of the company and records of salesRecords of wages and salaries that is being paid
MANAGE FINANCES4A property registration showing transaction and other balances that is in relationwith individual item. (Cokins, 2017)Records of the investment that are being made and records of the inventoryCalculation of the tax paid or tax return. Answer to Question 3Reviewcommerciallyavailablefinancialmanagementsoftwaretoselectthe mostsuitablesoftwareforHouzitPtyLtd. Ensure you diagnose software options by comparingtwo commercially available software titles against the capabilities of the existingtechnology for the organization and against the prioritized requirements, and outline thereasons that lead you to this recommendation. There are two options in regard to the software from MYOB that will be perfect forHouzit Pty Ltd advanced standard control and Collect all financialsCalculate and find GST (Armstrong and Taylor, 2014).Management of lead and prospectManagement of relationship of supplierTracking of stocks at different areasCost and pricing of the customer managementDistribution and sales management
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