Personal Income Tax

Introduction Across the world, governments tax people’s income in order to generate revenue for economic development of nations. It is imperative to note that income tax revenues constitute the biggest percentage of the revenue generated by the government. For instance, in Canada, the biggest share of government revenue comes from personal income at 75% compared […]

Superannuation and Tax Essay

Introduction This is a detailed report on superannuation and tax implications on SMSF (self managed super fund).Superannuation is a project or rather a system that is used in Australia with the aim of securing the old people and their plans in terms of investments. This is where a regular or a repetitive payment is made […]

Fraudulent accounting and tax evasion Essay

In the recent past, high profile cases due to fraudulent accounting and tax evasion have led to substantial changes in the regulations of corporate governance and accounting (Crocker & Slemrod, 2005). Fraudulent accounting and tax evasion has been established as an avenue through which corporations can increase their profits and as such requires increased regulation […]

Social Security in the United States Essay

Social security in the U.S is the most significant income program available for the elderly. However, United States ranks 26th compared to Greece which ranks 3rd in the replacement of the prior earnings. Despite this great variance, Greece has recently had its national debt restructured by the European Union to avoid bankruptcy. The following discussion […]

Government spending and tax legislation signed by the president Essay

Introduction Fiscal policies can be described as policies that governments implement to stimulate their economies. Every government tries to spend within its revenue limit. In fact, rarely do governments spend beyond their income. However, United States has been spending more than its revenue since 1969. This is mainly because it pays interest on the loans. […]

UK Taxation System Essay

In 2008-2009 total UK government receipts have been 37.3% of UK GDP. This is as same as approximately £ 10,900 for every adult or £ 8,900 per person in the UK. The big sources of revenue for the government are Income Tax, National Insurance contributions and VAT (Stuart and James, 2009). The Tax System Income […]