Taxation International Comparison Assignment Taxation

Taxation International Comparison Assignment One of the major purposes of taxation is to redistribute income. The government aims to collect from earning of residents and distribute it to those who are incapable for supporting their families. The main benefits offered to families in New Zealand, with Children less than 18 years of age, are the working for families’ tax credit and parental leave. These tax credits provide income tested benefits to families with children at home who are under 18. There are different criteria put in place to check the eligibility of the individuals receiving the credit. The idea of family tax credit is to ensure that every child in New Zealand is bought up in stable environment where they feel safe and healthy. All payments are made to an eligible parent to help with the family s day-to-day living costs. According to statistics New Zealand â€Å"1 in 4 children under the age of 18 live in households defined as medium or high risk, or those with more than 3 risk factors†. (Statistics New Zealand, 2012) These risk factors include low economic standard of living, poor housing problems, over crowded houses and limited access to facilities. For this reason, it is duty of the government to ensure that, every child in this country has access to a decent standard of living. This includes access to food, healthcare and education. This report will be looking into detail on Family tax credit policies in New Zealand in comparison with that of Australia andShow MoreRelatedEssay on Corporation and Subsidiary Company1701 Words   |  7 PagesIndividual research assignment Introduction The international company which called Buildco Ltd establishes a new company in Australia which is a wholly owned subsidiary of Buildco. 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