|
|
| *Home>>>Payroll Tax |
Have any of our stupid Australian State Politicians realised that Payroll Tax is unfair and counterproductive? |
Taxing companies when their payroll exceeds a certain amount is a disincentive to employ people. This must be harmful to the economy and the community. Just to clarify. For those like Bibs who don't know what payroll tax is: Payroll tax is charged to a company when their payroll (including super contributions) gets over a certain amount (it's different from state to state to add to the confusion). The amount payable is a percentage of the payroll over that amount. It has nothing to do with income tax or any other tax. As a CPA i agree wholeheartedly that this is a regressive tax and a great disincentive to small businesses in particular to employ additional staff. The situation becomes even more complex where you may employ people in more than one state. In that case it is necessary to pro rata the payroll tax threshold amount accross borders. In other words, it becomes necessary to look at what your payroll is in each state, then pro rate the thresholds for each state (and bearing in mind that each state has differing levels) which can become a complex calculation. I agree, the payroll tax system is stupid and useless...the only people this would benefit is the government... Payroll tax guarantees that the government gets the tax up front, rather than having to chase you for the money. |
| Tags |
| Payroll Company Employee Payroll Monthly Payroll Billing Payroll Payroll Checks Payroll Card Payroll Tax Payroll Accounting Online Payroll Adp Payroll Payroll Program Payroll Software |
| Related information |
You better go to your accountant and NOW before this turns into a tax nightmare with heavy fines. You are out of your league handling such errors. ...Looks like the withholding tax for the city of Philadelphia. City of Philadelphia Resident Tax 4.26% That is pretty high. I'm glad I don't live there. ...No, not at all! The fact that the account has expense in the title means that it is an expense, and it needs to go in the expense part of your income statement! If you haven't yet paid the pay... This is a good question, and it comes up periodically, amongst candidates for the Senate and House. Once the candidate gets elected, we generally never hear about the issue again, since this is a ... If a company pays directly to you (for making payment to a third party moving household goods) under nonaccountable plan, then that amount will be included in your W2. Then to deduct your work rela... This is the IRS online tool for this calculation ...Payroll taxes are a combination of taxes paid by the employer and employee. First off are income tax withheld from the employees' pay. We are all familiar with that. Then there are Soci... There are 5 different categories of taxes that all business must pay if they have Employees: Federal, Social Security, Medicare, State (Local), Federal Unemployment and State Unemployment. These a... |
Categories--Copyright/IP Policy--Contact Webmaster |