Australia has a unique stance when it comes to taxing inheritance. If you’ve recently inherited money, property, or superannuation, you may wonder: Is inheritance taxed in Australia? The short answer is no, but there are some important exceptions you need to understand. In this guide, we’ll break down the facts about inheritance tax in Australia,…
The PTCL tax certificate is an essential document for salaried individuals and business owners in Pakistan. If you pay bills to Pakistan Telecommunication Company Limited (PTCL), you can claim withholding tax deductions when filing your income tax returns. This guide explains everything about the PTCL tax certificate download, its uses, and how to get it…
NSW land tax is a vital aspect of property ownership in New South Wales, particularly for investors and non-residential property owners. Much misunderstood, NSW land tax is an ongoing charge based on the unimproved value of land at December 31 each year. It does not affect all landowners, but for those it does, its effect…
Complying with tax deadlines is an absolute requirement of doing business in Australia. For businesses that are GST-registered, timely lodgment of the Business Activity Statement (BAS) is imperative. Most businesses prefer to have a registered tax agent assist them in complying with such requirements. One of the primary benefits of this partnership is having access…
Planning for a funeral is an emotional process, usually compounded by the added stress of paying for it. In New South Wales (NSW), most families wonder if NSW funeral tax really exists or if funeral service is just costly because it incurs additional charges. The reality can be found within service costing arrangements, the applicability…
Australia is on the threshold of a new economic era characterized by the biggest transfer of wealth in its history. With Baby Boomers, born between 1946 and 1964, nearing retirement or death, their wealth is slowly transferring to their children and grandchildren. This has been commonly termed as the Great Wealth Transfer. Central to this…
FPI in income tax, widely known as foreign portfolio investment, refers to investment by foreign entities in domestic financial securities such as stocks and bonds, without controlling the interest. Unlike Foreign Direct Investment (FDI), which involves a controlling stake and active involvement, FPI is a passive investment strategy focused on returns from financial assets. This…
The idea that the Amish don’t pay taxes is a widespread myth. Do Amish people pay taxes? Of course, they do. Amish communities, like other citizens, obey the tax laws of the United States. Their religious and cultural beliefs emphasize living peacefully and respecting the authority of the government, which includes fulfilling their tax obligations….
The National Tax Number (NTN) is a crucial identification number issued by the Federal Board of Revenue (FBR) in Pakistan. It is mandatory for individuals and businesses to conduct legal financial activities, file tax returns, and comply with tax regulations. If you’re wondering how to check NTN number online using your CNIC, this step-by-step guide will help you verify your…
The real estate taxation landscape in Pakistan witnessed a major change in 2024 with the introduction of a flat 15% CGT on capital gains on real estate transactions. This change, effective from July 1, 2024, replaced the long-standing tiered tax structure that previously encouraged long-term ownership of real estate. As we move into 2025, understanding…
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