PUNCH Magazine weekly

Issue 43

PUNCH Magazine
The Official Weekly humourous and satirical publication of The Whig Party

Issue 43

PUNCH Magazine weekly

PUNCH Magazine weekly Friday September 28 2018, 4:15 PM

MIKE JESSOP INDEPENDENT WHIG PARTY KAWANA together we will change the course of history

target identification tracking with costs and taxes apart from wages and salaries identified deductions

Identify target tracking Identified Payroll with costs and taxes apart from wages and salaries deductions and taxes excluding actual wages and salaries required to be calculated and paid by any Business operating in the Australian economy

Payroll taxes generally fall into two categories -
1. deductions from an employee's wages to be paid by the employee and
2. taxes paid by the employer based on the employee's wages to be paid by the employer

Numbering a minimum of 5 typically 11 with a possible score ( 20) Both have to be calculated by the employer and remitted to the relevant tax office and the employee ( what's left of his or her wage or salary) such as
  • 1. Work cover Insurance
  • 2. Superannuation
  • 3. Employment tax
  • 4. 'Penalty Rates'
  • 5. GST
  • 6. Stamp duty
  • 7. Federal income tax withholding
  • 8. Medicare tax (1.45 percent of wages)
  • 9. Federal unemployment taxes (FUTA)
  • 10. Federal Insurance Contributions Act (FICA) & Medicare taxes also known as Social Security tax 6.2% y
  • 11. State income tax withholding
  • 12. Local tax withholdings such as city or county taxes, state disability or unemployment insurance.
  • 13. Court ordered child support payments and VOLUNTARY DEDUCTIONS

    Examples of VOLUNTARY DEDUCTIONS are group life insurance, healthcare and/or other benefit deductions, Credit Union deductions, etc. Additionally, voluntary deductions can be taken out of an employee's gross pay as a pre-tax deduction, a tax deferred deduction, or a post-tax deduction.

    As if this wasn't complicated enough Now do you see why employers large and small are tearing their hair out trying to keep up with all this bureaucracy ( on top of paying the current Stamp Duty yes Stamp Duty and GST) not just income tax!?

    It is time for Genuine Tax Reform which MIKE JESSOP Independent WHIG PARTY will implement forthwith

    There is sufficient education and control for employees to choose and take care of their own payments entirely out of the savings from having a GGST ( please see Issue 40)

    Please vote the present incumbents out of office at the next election

    Yours sincerely

    Together we will change the course of history

    May God bless you

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