Question 1 1 pts The goods and services tax is a consumption tax and is levied a

Question

Question 1 1 pts The goods and services tax is a consumption tax and is levied at 15% in Australia starting from 2019 True False D Question 2 1 pts For early stage ventures, which of the following is a strong reason for having an equity component in employee compensation? 0 a, the expected deferred and tax-preferred compensation allows the venture to pay a lower current compensation to employees b. as a way to motivate employees to strive for the same goal of high equity value O c. because any dividends received as part of the equity compensation reduces taxable income d.both a and b e. all of the above DQuestion 3 1 pts Employers obligations under PAYG withholding system are to o a. Register for PAYG Witholding O b. Provide employees with their Tax File Numbers O c. Train employees about the PAYG system O d. Both a. and b

Explanation / Answer

1. False.

There are proposed changes in the GST rate to 15%, but the rates are still not fixed.

2. Option d. Both a and b

The expected deferred and tax- preferred compensation allows the venture to pay a lower current compensaton to employees. . This is a way to motivate employee to strive for the same goal of high equity value.

3. Option a . Register for PAYG witholding.

As an employer it is their obligation to meet certain criterias one of which is to register for pay as you go (PAYG) witholding, before witholding an amount for payment and should cancel the registration once it is no more an employer.

On the other hand employers have an obligation to file Tax File Numbers in case of ESS.

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.