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In 1942, to help fund World War II, the federal government took over the raising of all income tax, to the exclusion of the States. The loss of the states' ability to raise revenue by income taxation was offset by federal government grants to the states and, later, the devolution of the power to levy payroll taxes to the states in 1971. [1]
Payroll tax is a general purpose tax assessed on the wages paid by an employer in Western Australia. The tax is self-assessed in that the employer calculates the liability and then pays the appropriate amount to the Office of State Revenue, by way of a monthly, quarterly or annual return. From 1 July 2014: [32] The rate of payroll tax is 5.5%.
In the U.S., [1] Canada, [2] and others, the federal and most state or provincial governments, as well as some local governments, require such withholding for income taxes on payments by employers to employees. Income tax for the individual for the year is generally determined upon filing a tax return after the end of the year.
In Bermuda, payroll tax accounts for over a third of the annual national budget, making it the primary source of government revenue. [6] The tax is paid by employers based on the total remuneration (salary and benefits) paid to all employees, at a standard rate of 14% (though, under certain circumstances, can be as low as 4.75%).
Australian federal budget 2022; 2022–23 Australian Federal Budget; Submitted: 29 March 2022: Submitted by: Morrison government: Submitted to: House of Representatives: Parliament: 45th: Party: Liberal/NationalCoalition: Treasurer: Josh Frydenberg: Total revenue: $547.6 billion [1] [2] Total expenditures: $628.5 billion [1] [2] Debt payment ...
Australian tax returns for the tax year beginning 1 July and ending 30 June of the following year are generally due on 31 October after the end of the tax year. [1] ...
The Treasurer of Queensland is the title held by the Cabinet minister who is responsible for the Queensland Treasury, and by extension, all financial matters of the Queensland Government. [ 1 ] List of Queensland treasurers
Queensland is governed according to the principles of the Westminster system, a form of parliamentary government based on the model of the United Kingdom.Legislative power rests with the Parliament of Queensland, which consists of the King, represented by the Governor of Queensland, and the one house, the Legislative Assembly of Queensland.
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