Answers: 1. With reference to the principles of taxation, it is seen that it plays an important role in accomplishing the income equality within the society. Some of the important functions are given below- Taxation redistribution function In order to allocate proper understanding of the Australian taxation system, there are many deductions, fringe benefit tax, goods and service tax. The allocation function reveals comes up to make governme...Read More
Answer: 1: The basic functions of taxations are as follows; Funding government expenditure: The most important vital function of tax is to fund the expenditure of government. It provides varying amount of justifications and explanation for taxes that has been offered all through the history. Previously, taxes were used in supporting the “ruling classes”, increase armies and create defences (Saez and Stantcheva 2018). Later exp...Read More
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