A sole trader in Australia is taxed at: (a) The company tax rate of 30 per cent.

Question:

A sole trader in Australia is taxed at:
(a) The company tax rate of 30 per cent.
(b) The same as the rate of capital gains tax for the owner.
(c) The owner’s marginal tax rate.
(d) Both the rates in (b) and (c) above.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting Business Reporting For Decision Making

ISBN: 9780730369325

7th Edition

Authors: Jacqueline Birt, Keryn Chalmers, Suzanne Maloney, Albie Brooks, Judy Oliver, David Bond

See More Books

Question Posted: Dec 16, 2022 02:43 AM

See More Questions

The reduced row echelon form of a system of linear equations in x and y or in x, y and z is given. For each system, determine whether it has a unique solution (in this case, find the solution),...
During the current year, Z Corporation accrued income and expenses as follows: Gross income from Business $1,000 Dividends on Apple Stock 300 Interest on State Bonds 300 Capital Gain 300 Total 2,400...
mn = 0.59 V, E, = -3.04 V I) Calculate AG (kJ/mol) for the following electrochemical cell II) If the cell emf of a Li-MnO, cell is 3.64 V when the concentration of Li" is 0.5 M, what is the...
On August 31, 2014, Nina Herrera borrowed $5,000 from Second State Bank. Herrera signed a note payable, promising to pay the bank principal plus interest on August 31, 2015. The interest rate on the...
Visit your schools library or your local public library and investigate the reference section. Make a list of resources that might be useful for opening a new dry cleaning business.
Is the child tax credit a refundable or nonrefundable credit? Explain.
Explain what is wrong with these electron configurations: a. $1 s^{2} 2 s^{2} 2 p^{8} 3 s^{2} 3 p^{4}$ b. $1 s^{2} 2 s^{3} 2 p^{4}$
On June 30, 2011, Weslaco Companys total current assets were $500,000 and its total current liabilities were $275,000. On July 1, 2011, Weslaco issued a short-term note to a bank for $40,000 cash....
Activity Cost Pool Serving a party of diners Serving a diner Serving drinks Activity Measure Number of parties served Number of diners served Number of drinks ordered A group of diners who ask to sit...
In an experiment to measure convection heat transfer coefficients, a very thin metal foil of very low emissivity (e.g., highly polished copper) is attached on the surface of a slab of material with...
Jenny and Margaret agree to form a partnership on 16 September 2020 to supply first-aid kits to motor vehicle dealers. They agree on the following market values given to them by an independent...
Complete the following table. Current assets $ 200 6400 15 100 d. Non-current assets a. $19700 8400 5700 = Current liabilities $ 1700 50 3 900 10 700 + Non-current liabilities $ 1100 400 2200 17900 +...
Discuss each of the following statements: a. "The better the risk management policies of a company, the greater a company's debt capacity." b. "Managers are not paid to avoid all risk."
the upper room inn (uri) an incorporated lodging operation, prepares its income tax return using the same information as it shows on its annual report to its owners with the exception of...
Scan Bookkeeping has a $200,000 compensating balance loan with its bank. The terms of the loan call for Scan to keep 5% of the loan as a compensating balance and pay interest at an annual rate of...
A taxpayer has $20,000 in meal expenses during the year for his sole proprietorship. $5,000 of these are for regular business meals during work-related travel. $10,000 are for meals from restaurants....
A taxpayer has a home office of 250 square feet out of a total home size of 1,875 square feet. The office qualifies for the business use of home treatment. Expenses related to the whole home and...
On March 1 , 1 9 9 3 , Elwood deposited $ 4 , 2 0 0 into a bank account. The account credited interest at a nominal interest rate of 4 % per year, compounded quarterly, when the balance was under $ 5...
Let i0, i1, . . . , in be a rearrangement of the integers 0, 1, . . . , n. Show that f [xi0 , xi1 , . . ., xin] = f [x0, x1, . . ., xn]. [Consider the leading coefficient of the nth Lagrange...
Which of the following gives the range of y = 4 - 2 -x ? (A) (- , ) (B) (- , 4) (C) [- 4, ) (D) (- , 4] (E) All reals
What is the difference between an accounting standard and the Conceptual Framework in terms of authority of law?
It is argued that the convergence of our accounting standards with international standards will bring great benefits to the Australian economy. How do you think our international trading position...
Every time there is a spate of corporate collapses, the accounting profession has been closelyscrutinised, and many members of the professional bodies have appeared before disciplinary hearings....
Smith Plumbers ended the year with a balance of $300,000 in their owner's equity account. During the year, the business took on another owner who contributed $30,000 in cash and assets. Revenues for...
Three blocks are pulled along a frictionless surface by a horizontal force . The ropes connecting each block are massless. The tension between the 1 . 0 kg block and the 2 . 0 kg block is 4 . 0 N ?...
What is Hugo's average tax rate in 2020 if his income was $60,000 and he paid $5,000 in taxes? Show your equation. Example - a/b = c

A sole trader in Australia is taxed at: (a) The company tax rate of 30 per cent.

Question:

Step by Step Answer:

The ...View the full answer

Accounting Business Reporting For Decision Making

Students also viewed these Business questions