ACCT2331 Chapter Notes - Chapter 1-4,6-9, 48: Commonwealth Oil Refineries, Flat Rate, Constitutional Basis Of Taxation In Australia
Document Summary
A tax whose economic incidence falls on the consumer. Customers: on the importation and exportation of goods. Excise duties: on the production and manufacture of goods. On deposits and withdrawals to and from bank accounts. Fringe benefits taxes (on the provision of non-salary remuneration. On large greenhouse gas emitters to combat climate change. Lower taxation leads to more spending (inflationary effect: redistribution function, redistributes wealth among citizens. 1. 4 (a) tax expenditures: tax expenditures are indirect government spending programs, examples: Imposed at the same rate for all taxpayers (e. g. gst: progressive taxes. Imposed at rates that increase with the amount of tax base (e. g. income tax: regressive taxes. Indirect tax: person who pays the tax is able to pass on the economic burden of tax to a third party (e. g. gst) Income is taxed in the hands of members: australia treats companies as opaque entities, companies and their members are taxed as separate entities (subject to imputation)
