Calculation of Tax - Law Assignment Help

Assignment Task

Calculation of Tax

• Income tax is levied upon taxable income at rates imposed by Parliament.

• The rates vary based on - type of taxpayer e.g. adult individual or child, status e.g. resident or non-resident of Australia, class e.g. company or some other entity.

• The tax rates for the current year are set out in the final section of the textbook called Tax Rates and Tables.

• The financial year you will be studying is the year ended 30 June 2021.

• Below are the individual tax rates for 2020/21 which we will use in this course. 

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