Formulas for calculating amounts to be withheld

Do you have questions about how to calculate the withholding amounts for withholding taxes?

Download ATO Document – Formulas for calculating amounts to be withheld

This can be a very complicated process. It needs to be done quickly and accurately though to maintain business efficiency in a way that ensures that your business is run effectively and in accordance with the taxation law. If this is not done properly it can expose your business to some very serious penalties like failure to withhold penalties or penalties for withholding too much from your employees. If you want to check how much should be being withheld from your pay, you can use this tables as well to verify what the accounting department of your organisation is doing in relation to the amounts that should be withheld so that you do not get surprised when it comes time to file your tax return at the end of the financial year and discover that you owe more tax than you thought that you were going to.

The most common form of withholding tax is through the PAYG (Pay As You Go) system of withholding. This is the system which is used for employees who earn a regular wage from working in a business or a government or not-for-profit organisation. The law mandates that tax must be withheld from a person’s pay and given to the government during the course of the administration of the tax year rather than at the end which is presumably a system that came into being to ensure that enough money is kept in reserve by the vast majority of organisations to pay taxation and that the bill will not come in one massive hit at the end of the year. It also allows the work of taxation administration to be ongoing throughout the year rather than piled all into the period when tax returns are filed. Other forms of withholding are where a TFN is not quoted and the full rate of tax is applied as a penalty such as in the case of the payment of company dividends. If you have a question about this area of the law, please do not hesitate to contact us.

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ATO Document – Formulas for calculating amounts to be withheld

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Posted in Tax

President Obama preaches religious tolerance and non-dicrimination on 9-11

In the a nation that seems increasingly divided, US President, Barack Obama has said that Islam is not the enemy, but that Al Qaeda is the enemy. Saturday in the USA saw a number of ceremonies commemorating the 3,000 dead as a result of the attacks on the world trade center on September 11 2001.

Tensions have been running high with protests outside mosques which are only a few blocks from ground zero and a Christian pastor threatening to burn the Koran in public/ It seems that the President has enraged Americans because of his lack of fervor for the fight against what is perceived by many in America as a holy war and he has alienated Muslims around the world with the uncompromising policy stance on the War in Afghanistan. The president said that:

“As Americans we will not and never will be at war with Islam. It was not a religion that attacked us that September day. It was al-Qaeda,” Obama said, urging Americans not to succumb to “hatred and prejudice”.

At Ground Zero, where for the first time reconstruction work is visibly gathering pace, a youth choir opened the ceremony with the national anthem. Vice President Joseph Biden and New York Mayor Michael Bloomberg were among those attending the annual ritual of reading the names of all 2752 people killed when two hijacked airliners destroyed the Twin Towers.

The pastor arrived in New York late on Friday to continue publicising his campaign, while rival street rallies were planned near the controversial mosque project site.
On Saturday, the pastor told NBC television he no longer wanted to desecrate the Muslim holy book, “not today, not ever”.

The president has weighed into the debate on the side of tolerance even further by saying that “we champion the rights of every American, including the right to worship as one chooses”.

“We stand together to rebuff the stereotypes,” Susan Lerner, New York director of the rights group Common Cause, told the crowd. “We reject the idea that any neighbourhood in our great city is off limits to any particular group.”

Anti-mosque demonstrators, led by ultra-conservative groups, predicted a large protest of their own on Saturday.
Some protesters accuse the Islamic centre of aiming to honour the 9/11 terrorists and argue that Muslims should not be allowed a significant presence anywhere near Ground Zero. Others say that the feelings of families of those killed on 9/11 are still too raw to accept the project. The political turmoil around this year’s anniversary has disturbed many who have asked for the day to remain purely commemorative. There have also been some reports of racist reprisals and violence between the groups which has heightened the tension.

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Motor accidents and Insurance Law Claims

September 12 has been marked by a number of fatal accidents on Sydney’s roads which is leading to greater interest in insurance law claims. On the weekend, 1 man was killed and three people were seriously injured as a result of three separate car accidents in the metropolitan area. If you’re a high-risk driver, be sure to Get SR22 Insurance You Can Trust and Afford.

In the latest incident, a man has died after being hit by a car in Sydney’s eastern suburbs early today. Shortly after midnight a man was crossing Bondi Road at Bondi when he was hit by a Holden sedan. The 47-year-old Horningsea Park man sustained serious head and neck injuries and was taken by ambulance to St Vincents Hospital, where he later died.

The male driver of the Holden was also taken to St Vincents Hospital for mandatory blood and urine tests. Meanwhile, a woman is in a critical condition after she and her young nephew were hit by a car in Sydney’s southwest at about 7pm (AEST) yesterday. They were crossing Cabramatta Road at the traffic lights at the intersection of Acacia Street, Cabramatta, when they were hit by a Holden Rodeo.

The 42-year-old local woman sustained serious head, facial, chest, spinal and pelvic injuries and was taken to Liverpool Hospital, where she remains in a critical condition in intensive care. The four-year-old boy sustained a fractured right ankle and was also taken to Liverpool Hospital before later being transferred to the Childrens Hospital at Westmead in a stable condition.

All of the victims in these accidents will undoubtedly have serious injuries plaguing them for a long to time to come and the family of the dead man will not find it easy to move on after an incident like this. They will almost certainly have a claim against the drivers of the vehicles that hit them unless they were crossing the road inappropriately. If you think you may have a claim, please do not hesitate to contact a reliable personal injury lawyer or a car accident attorney. A legal expert like a traffic crimes and speeding ticket lawyer can also help drivers who will get involved in traffic crimes and speeding incidents, you may use this link to know more.
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Tips on buying and financing property from a legal perspective

During the global financial crisis, there was a problem with the aggregation of market power in the big four banks as many of the smaller more competitive players folded or got taken over buy the monoliths. However, there are some indicators emerging that signs of renewed competition in the mortgage market, such as the availability of bigger package discounts and moves to reduce the size of the deposit, are returning and making housing a little more accessible for ordinary people. Get the latest updates with ทางเข้าUFABET อัพเดทล่าสุด for an uninterrupted gaming experience.

For instance, the clamp like criteria which imposed after the GFC were relaxed by some of the major banks recently. The Commonwealth Bank, Westpac and the ANZ relaxed their lending criteria. Westpac lifted its maximum LVR to 92 per cent while the ANZ went further, to a maximum LVR of 95 per cent. The CBA, meanwhile, increased its interest rate discount from 0.6 per cent to 0.7 per cent on loans above $500,000. This was probably in response to the the lead of smaller lenders. The Bendigo & Adelaide Bank moved its maximum LVR to 97 per cent and Mortgage House launched a 99 per cent LVR loan. Others offering LVRs of 95 per cent or more include: CUA, MyState Financial, ServiceOne, BankWest, Rams Home Loans, St George and Suncorp. In comparison to other banks, a credit union rexburg bank offers the lowest interest rate.

The fact that there is now some competition returning to the home loan market will open a number of options up for people. There will be new opportunities to negotiate a deal on refinances. There will be opportunities for new buyers to get into the market on a more competitive deal with the help of a professional mortgage broker or a real estate expert. If you need assistance looking for a residential property or an  Acreage property for sale, call a buyers agent like this real estate agent Lynchburg who can find the perfect house for you and your loved ones. Need a Charlottesville realtor contact Story House Real Estate.

If you are thinking of taking out a new loan or if you are looking at getting into the market with a loan, it is a good idea to shop around for a good loan deal so that you know the true terrain of the market. Dive into the rich tapestry of Canadian homes with HomesEh.ca. Where every click brings you closer to home. We can assist you with the legal aspects of loan formation and the purchase of the property that you are looking at. Find your dream property at https://www.ilisters.com/cyprus/property/for-sale/in-cyprus.

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Strange Murder – Herman Rockefeller

Mario Schembri was jailed for nine years with a minimum of seven years, and Bernadette Denny for seven years with a minimum of five years, in the Victorian Supreme Court today as a result of a conviction of the murder of Herman Rockefeller. Schembri, 58, and Denny, 42, both pleaded guilty to the manslaughter of the 51-year-old married father of two on January 21 after a swingers’ rendezvous at the couple’s home in Hadfield, in Melbourne’s north, went horribly wrong.

Bernadette Denny and Mario Schembri in court.
Justice Terry Forrest began his sentencing remarks: ‘‘Herman Rockefeller made some unorthodox choices in his adult life. So too did you, Mario Schembri, and you, Bernadette Denny. ‘‘None of those choices was in itself unlawful, nor is it the function of this court to pass judgement on them. The upshot of the choices you made, however, is that the scene was set for the totally unnecessary death of a man.”

Rockefeller had advertised as a married couple looking for discreet sexual encounters, but had arrived at the couple’s Hadfield address in early January without his wife, whose name he told them was Jenny. The pair had admitted to being angry when Mr Rockefeller showed up alone and requested sex. After a struggle, the pair put Mr Rockefeller in the boot of Schembri’s car and Denny said she could hear him moaning and tapping as they drove towards Heathcote where they planned to dump him. Justice Forrest described the killing as ‘‘a totally unnecessary death’’. Mrs Rockefeller sat just metres away from the dock but refused to look at the convicted couple as they were led from the court.

It is one of the stranger and more disturbing crimes which has been perpetrated in the criminal defense system of late. There has also been a high level of interest in the case because of the high profile nature of the victim and the darker side of his life which was brought to light in the trial.

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Age Discrimination Cases

One of the most significant cases of age discrimination in Australia was the case of Qantas Airways Ltd v Christie [1998] HCA 18; 193 CLR 280; 72 ALJR 634; 79 IR 120; 152 ALR 365 (19 March 1998). This matter was heard before the high court. This case highlighted the way in which Australian jurisprudence in this area had lagged in development behind that of the United States because of the early adoption into federal law in the United States of a statute which prohibited age discrimination, namely, the Age Discrimination in Employment Act 1967 , 29 USC §§621-634.

The case was about a restriction which Qantas had over its commercial pilots that they could not fly long distance journeys once they were over the age of 60. The airline claimed that this was because of the levels of alertness, fitness and concentration which are required in order that a person can fly a plane for such long distances. However, Mr Christie argued and it was agreed from medical evidence that he was at an appropriate level of fitness to fly these long distance journeys. He then argued that the effect of the imposition of this rule purely on an age based criteria was discriminatory. The court was divided in its assessment of the matter. Some judges chose to allow the appeal and others denied it.

Some other key age Discrimination Cases:

Bostick Australia Proprietary Ltd v Gorgevski (1992) 36 FLR 20
Byrne v Australian Airlines Ltd (1994) 47 FCR 300
Gilshenan v P.D. Mulligan P/L [1995] NSWEOT
Yaxley v Trust Bank of Tasmania (1996) AIRC 960095 TI-1245
Blatchford v Qantas Airways Limited [1997] NSWEOT
Ivory v Grifith University [1997] QADT 4 (30 January 1997)
Qantas Airways Limited v Christie [1998] HCA 18 (19 March 1998), 193 CLR 280
Re McIntyre & Anor [1999] QSC 121 (7 June 1999)
Commonwealth of Australia v HREOC and Bradley [1999] FCA 1524 (4 November 1999)
Hopper & Others v Virgin Blue Airlines Pty Ltd [2004] QADT 13 (12 May 2004)
Thompson v Big Bert Pty Ltd t/as Charles Hotel [2007] FCA 1978
O’Brien v Crouch [2007] FMCA 1976

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Stephanie Rice in trouble over homophobic discrimination

Stephanie Rice has now been forced to give back a car worth over $100,000.00 as a result of a homophobic tweet she made. The comments are potentially defamatory, discriminatory and asked to give back her Jaguar which was given to her by the car manufacturer in a sponsorship deal earlier this year.

Rice had tweeted the statement ‘suck on that faggots’ in relation to a win by the Wallabies in South Africa recently which inflamed backlash against her in the gay community and the broader community. Rice is still counting the cost of the tweet. Jaguar Australia’s marketing and public affairs manager Mark Eedle confirmed that the company’s sponsorship of the swimmer has been terminated.

“We made a decision yesterday, and we’ve terminated the agreement with her,” Eedle said. “We will be taking the car that she’s been using back,” said Eedle. Another of Rice’s sponsors, Sun Rice, said it could not comment on its sponsorship of the swimmer at this time.

Famous sporting personalities who are openly gay such as Ian Robertson have denounced the gold medal swimmer as an ‘Idiot’. Her comments have obviously drawn fire from all sections of the gay community. Anecdotally, it is not the first time Rice appears to have suffered as a result of a backlash from a comment which reflects the mind of a young person with some relatively narrow minded views on the world. It is disturbing that a person so revered for her sporting achievements can make a comment which reflects such prejudice.

If Rice had said such things aimed at one person specifically, it is likely that she would have to contend with legal action on the basis of the comments. However, because she was referring to the South African rugby team in general and none of them have complained specifically, it is unlike to become a legal issue. If an employer fired someone and then made such a statement this would also be grounds for a case of discrimination.

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Preparing for an ATO Tax Audit

Getting audited by the ATO can be a daunting prospect. Ultimately its is true that honesty is the best policy and that an attempt to hide something from the ATO will almost always end in tears. You need to make sure that you have all of your documents in order and that you know exaclty what to look for when you are asked questions about what you have claimed. If you are not well prepared in this way, you may face a negative outcome of the audit and further consequences. In 2005/2006, the ATO’s compliance activities raised $6,244 million including tax, penalties and interest. This was mainly as a result of penalities imposed from audits which found that many businesses had failed to pay tax correctly.

During an audit, the ATO:

* examines the tax affairs and records of a taxpayer to ensure that reported information is accurate and to confirm the taxpayer’s tax liability;
* may examine the tax records of other persons which may shed light on the taxpayer’s tax position; and
* may cross-check data against different sources (for example, interest payment records forwarded by financial institutions) may send ATO officers to visit the taxpayer’s (or third party’s) premises to examine records.

So what are some key things to remember if you are being audited or face the prospect of being audited?

1. Document retention policy

Taxpayers should implement an appropriate document retention policy and administrative filing system to enable them to retrieve records efficiently during an audit. The tax laws impose a positive obligation on taxpayers to maintain records that document and explain all transactions and other acts engaged by the taxpayer that are relevant for the purposes of the taxation laws. Taxpayers should determine which documents are protected by “privilege”, mark them as privileged and arrange for them to be kept separate from “non-privileged” documents. This enables the taxpayer to minimise the risk of privilege being inadvertently waived.

Which documents are privileged?

Generally, if a taxpayer has a document that is privileged, then it usually does not have to show that document to the ATO or to a court. The types of privilege available to a taxpayer include legal professional privilege, accountants’ privilege and corporate board document privilege.

If you have any questions about being audited, please do not hesitate to contact us using the for to the right. We would be more than happy to help you.

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Cocaine related convictions spiral upwards

According to the most Senior Crime Researcher in New South Wales, the state is facing a massive cocaine epidemic. Users are willing to buy the drug at up to $500 a gram. The use of cocaine across the state has increased by more than 50 per cent in the past two years, the latest NSW crime statistics show. The boom in the drug is the result of a shortage of ecstasy in Australia due to a recent crackdown by authorities in Cambodia and an earthquake in China. NSW Bureau of Crime Statistics and Research data show that from April 2008 to March this year cases of possessing and using cocaine rose 55.5 per cent.

”There is no doubt that the use of cocaine and the use of ecstasy have increased,” said the bureau director, Don Weatherburn. ”The market for cocaine is growing at an exponential rate, and if the price of the drug is staying the same, then this is the sign of a thriving market … It is safe to say we are in a cocaine epidemic.” As substance abuse continues to affect many individuals, facilities like Pacific Ridge in Portland can provide hope and support to those seeking to overcome their dependency. Unparalleled care and comfort define the luxury substance abuse treatment center at Carrara in Malibu. Programs at treatment centers like Sober Living California are designed for serene and effective recovery.

Evidence of use started to accelerate from August 2003, when there were only three arrests, increasing in September 2007 to 19 arrests a month, to last September, when there were 80 arrests a month, Dr Weatherburn said.

A NSW Police spokesman said increased cocaine and ecstasy arrests were a result of a higher number of general arrests. And those who will be arrested as a result of illegal drugs possession may consider enlisting the help of a criminal lawyer to help them defend their rights. In addition, those who will need record expungement and fast background check removal services may consider consulting record expungement services.

“In the 12 months to June this year, police conducted 187,000 searches of individuals … which yielded 15,000 items, including illicit drugs,” he said.

Drug possession charges are filed as a result of improper searches and illegal seizures. If you have been charged with drug possession, you need a drug possession defense lawyer like Galveston drug possession lawyers who knows how to spot weaknesses in the prosecution’s case.

According to experts such as Drug Crimes Attorneys and DUI Legal Representative Services, drug crime is also associated with rises in other types of crime associated with the need for users to fund their habit. Because users need large amounts of money, they will often resort to property crime in order to fund their habit. It is also thought that a lot of additional cocaine factories have started in Sydney recently to fill the gap of the drying up of the ecstasy market.

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The Stig and Confidentiality Agreements

The ever popular car enthusiast’s program – BBC’s Top Gear presented by Richard Hammond (‘the Hamster), James May (‘Captain Slow’) and Jeremy Clarkson has one essential character called The Stig, a white-clad, white-helmeted “tame racing car driver” with a glistening black visor, who trains celebrities in doing laps for the show’s competition and who sets test times for various cars. Until recently the Stig’s identity was a secret, and there has been much speculation as to who he is. It has now been revealed that he is Ben Collins, an F3 racing car driver. Collins is planning to release an autobiography which would reveal his identity for once and for all. The BBC sought and injunction in the UK High Court to prevent this but failed.

A number of the reports mention that The Stig is subject to a confidentiality agreement with the BBC. There is a possibility that the BBC could rely on an action in contract to make The Stig disgorge his profits. In the case of Attorney-General v Blake [2001] 1 AC 268 the courts in the UK found that it was possible to award accounts of profits for breach of contract in ‘exceptional circumstances’ where the plaintiff has a ‘legitimate interest’ in performance of the contract.

The contract in Blake itself involved an undertaking in a contract of employment to the effect that, even after his work had ceased, the employee would not disclose any information about his work without the consent of the Crown. George Blake had been a spy for MI6, but he was also a double agent for the Soviets. When his treachery was uncovered in 1960, he was convicted and imprisoned, but he subsequently escaped from prison and fled to the Soviet Union. Perhaps he wasn’t being kept in the fashion to which he was accustomed after the fall of the Iron Curtain, because in 1990 he published an unauthorised autobiography entitled No Other Choice. The British government was outraged to hear that Blake was being paid £150,000 for the book by his British publishers, and successfully sought an account of profits over all profits remaining in the jurisdiction (some £60,000 had already been paid to Blake in Russia, but about £90,000 remained in Britain). Some of the cases which have developed jurisprudence around a similar concept are Pell Frischmann Engineering v Bow Valley Iran Limited [2009] UKPC 45; Vercoe v Rutland Fund Management Limited [2010] EWHC 424 (Ch). The end outcome of this legal battle remains to be seen.

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