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Overall Calculation of the Net Capital Loss or Gain

   

Added on  2020-04-01

10 Pages3452 Words34 Views
1Taxation<Student ID><Student Name><University Name>

2Contents1. Overall calculation of the net capital loss or gain for this year...................................................32. Loan to Brain...............................................................................................................................53. About Jack and Jill Loan.............................................................................................................64. Legal Plan....................................................................................................................................75. Land Problem of Bill...................................................................................................................8References........................................................................................................................................9

3The term taxation means the compulsory money that is collected by the levying authorities,mainly by the government. The term is applicable to the involuntary levies, from the income tothe other gains in the capital to the estate taxes. The taxation is quite different from the otherforms of the payment such as the market exchange and other services. The government collectsthe taxation through explicit and implicit manner or threat of force. The taxation is different fromthe protection racket and the extortion because the institute on which is imposed is a government,not private (Auerbach & Hassett, 2015). The tax system varies from place to place, countries tocountries. In the recent situations, the taxation occurs both in the physical asset like the property,events and the sale transactions. The formulation of the tax is one the vital thing and issues in thepolitical circles. The taxation is the principle where the government is raising the revenue. Without the taxation,the government wasn't able to circulate the laws properly and face problems in the export andimport of the products. So the taxation is important to deliver the products or the public goodsand services to the various communities (Basu, et al., 2014). There are various ways governmentcan raise the revenue like; they can charge the fees for the rendering services and also forgranting the license impose fines amount for the breaches of the laws and generate new laws andrules for various assets and investments (Besley & Persson, 2013). Taxes are the special systems that are imposed on the communities. The taxation laws aredescribed as the body of the laws that helps to govern the liabilities of a person and theorganization to pay the tax. It covers the entire rule and establishes the tax base and incidence ofthe tax. Australia has the vast body of the taxation law (Bick & Fuchs-Schündeln, 2017). Theprimary source of the country is to find the thousands of pages of the tax legislation that areenacted by the commonwealth, the territory parliaments, and the state. 1. Overall calculation of the net capital loss or gain for this yearThe Australia's taxation laws are operated by the commonwealth constitution and theinternational treaties that include the Double tax agreements (DTAs) entered into the foreigncountries. The taxation is extremely important and useful for various study and challenges of thesociety because of the voluminous nature as well as due to the technical complexities. From the

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