Showing posts from February 12, 2011

Tax Definition

A tax is a compulsory transfer of resources from the private to the public sector levied on a basis of predetermined criteria and without reference to specific benefit received. Taxes may be referred to as charges, duties, imposts, contributions, Excise, levies, withholding or liabilities and may be imposed by Federal, State or local government. Click here to see a spreadsheet of how much tax you pay in Australia.