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Money Doesn’t Come Without Guidance ...

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27
Apr

Individual income tax rates and how the individual gets taxed on his or her taxable income

Individual income tax rates The individual income tax rate is a rate that calculates the amount of tax you need to pay on your income. These tax rates will depend on your income year and your resid...

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27
Apr

Tax deduction

Tax deduction will reduce the income that is able to be taxed, and is commonly occurred as a result of expenses, particularly for those expenses which are incurred to produce additional income. The di...

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27
Apr

Allowances and other employment income

Assessable income is basically net gross income. The most common item of assessable income is salary and wages income. But there are other income items which are known as allowances and other employme...

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27
Apr

Exempt income

Exempt income is a non-taxable income. However, we might take into consideration the deductable tax losses of our previous income years along with the adjustable taxable income of our dependants. It m...

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27
Apr

Assessable income

Assessable income is the portion of income that is subjected to tax, provided you earn enough to exceed tax-free threshold. If taxpayer has a partner, both of their incomes shall be taken into account...

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