OpenEuphoria

Re: Taxation

• Posted by Derek Parnell <ddparnell at bigpond.com> Feb 18, 2002
• 467 views

The tax on a retail item on sale for $1.00 in Australia is $0.09.

This is because we have a GST (Goods & Services Tax) set at 10%. Everybody
in the production stream pays the Govt 10% on what they bought it at and
collects it back from the next person in the stream.


----- Original Message -----
From: <euman at bellsouth.net>
To: "EUforum" <EUforum at topica.com>
Subject: Taxation


>
> Hello all,
>
> This is non-programming related but I need an answer.
>
> Has anyone figured out what amount of tax is on $1.00?
>
> consider a candy bar that when you buy it cost $1.00
>
> also consider it a while loop thats never false
>
> while true do
>    1. the manufacturer pays a tax
>    2. the retailers pay a tax
>    3. the purchase is taxed
>    4. you work for the manufacturer and
>        your taxed on the income
> end while
>
> and anyother tax Ive missed.
>
> hmmm, how much of this $1.00 is actually not taxed?
>
> What the hek was there a tea party?
>
> Euman
> euman at bellsouth.net
>
> Q: Are we monetarily insane?
> A: YES
>
>
>
>