0
ability to pay
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What makes a tax fair?
a tax is fair is the persons who is being taxed have representitves in Parliament.
Who is considered a dependent for income tax?
Whoever satisfies the criteria listed in the income tax instruction booklet.
Some states tax all taxable income at the same rate they have a flat tax rate.?
That is a true statement. Wisconsin, for example, taxes everyone fairly. The rate of tax is the same no matter how much you earn. The only more fair method of taxation would be very regressive and taxing those that use the system more. A use tax would be the most fair. Taxing those that use any particular service for that use would be very fair. The downside is that most people that are heavy users of the system have the lowest income. That makes this tax impossible.
What is the property tax rate in British Columbia?
Property Transfer Tax RatesThe amount of tax due depends on the fair market value of the property that is transferred:If the fair market value is $200,000 or less, the tax is 1% of the fairmarketvalue.If the fair market value is greater than $200,000, the tax is 1% of the fairmarket value up to $200,000, plus 2% on the portion of the fair market value that is greater than $200,000.For example:if fair market value of property is $150,000tax payable is: 1% of $150,000 = $1,500if fair market value of property is $250,000 tax payable is: 1% of $200,000 = $2,000 plus 2% of $50,000 = $1,000 for total tax payable of $3,000
What makes tax different from taxation?
Tax is one special amount or percentage of something paid by people to the government, taxation is a system of taxes (or policy)and laws related to them.
What is the percentage of the retail price imposed as a tax?
One of the criteria that makes a tax fair
What makes a tax fair?
a tax is fair is the persons who is being taxed have representitves in Parliament.
Regular income tax Fair tax Flat tax which would be your choice?
flat income tax
Who is considered a dependent for income tax?
Whoever satisfies the criteria listed in the income tax instruction booklet.
When a tax system is referred to as being neutral it implies that?
tax system is fair
Some states tax all taxable income at the same rate they have a flat tax rate.?
That is a true statement. Wisconsin, for example, taxes everyone fairly. The rate of tax is the same no matter how much you earn. The only more fair method of taxation would be very regressive and taxing those that use the system more. A use tax would be the most fair. Taxing those that use any particular service for that use would be very fair. The downside is that most people that are heavy users of the system have the lowest income. That makes this tax impossible.
What is the property tax rate in British Columbia?
Property Transfer Tax RatesThe amount of tax due depends on the fair market value of the property that is transferred:If the fair market value is $200,000 or less, the tax is 1% of the fairmarketvalue.If the fair market value is greater than $200,000, the tax is 1% of the fairmarket value up to $200,000, plus 2% on the portion of the fair market value that is greater than $200,000.For example:if fair market value of property is $150,000tax payable is: 1% of $150,000 = $1,500if fair market value of property is $250,000 tax payable is: 1% of $200,000 = $2,000 plus 2% of $50,000 = $1,000 for total tax payable of $3,000
Tax takes the same percentage of income from everyone regardless of their earnings?
Fair tax
What's the cost of the best income tax software?
There could be a couple of names which could get labeled the best income tax software. The names are tax cut, turbo tax. One is item I could tell a fair amount about for you to know.
Is fair that tax payers have to pay for an attorney if a accused person cant afford one?
Yes , it is fair because everyone , regardless of income , should have access to legal representation .
In the US tax system everyone is supposed to pay a fair?
life's not fair - why should taxes be?
Where can one go to find information about Capital Gains Tax?
Capital gains tax refers to a tax on the profits one makes when selling things. There is a tax-free allowance for all, as well as some additional relief available, depending on one's economic situation.
