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Fairness - Essay Example

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Fairness

Every tax, it must be observed once for all, which falls finally upon one only of the three sorts of revenue above mentioned, is necessarily unequal in so far as it does not affect the other two.
Looking at income tax rates methodology, we see that a taxpayer's income is taxed progressively. Broadly, this means that as you earn more income your average tax rate rises. And it's really fair! Progressive taxation means that higher income earners pay more tax than lower income earners. The Government defined a maximum sum, which is not taxed -$6000. Let's imagine, that your income is equal to X. Then if your income lays between you'll pay 17% from (X-$6,000) sum. If your income is , you must pay more - $2,652 (according to previous rule) and 30% from (X-$21,600) sum, etc. This is achieved by taxing a range of income brackets as a set percentage or cents in the dollar. These income brackets are called tax brackets. The following tables detail the tax brackets of our progressive tax system for the financial years ending 30June2005 and 30 June 2006.
The rate of tax within these brackets is called the marginal rate of tax. For Australian residents, the first tax bracket, from $0 to $6,000, has a zero marginal rate of tax. Tax is applied to every dollar after this figure.
...
Tax is applied to every dollar after this figure. This tax-free amount is called the tax-free threshold.





The whole scheme you can see in the next tables.
Tax rates 2004-05 Tax rates 2005-06
Taxable income
Tax on this income

Taxable income
Tax on this income
$0 - $6,000
Nil

$0 - $6,000
Nil
$6,001 - $21,600
17c for each $1 over $6,000

$6,001 - $21,600
15c for each $1 over $6,000
$21,601 - $58,000
$2,652 plus 30c for each $1 over $21,600

$21,601 - $63,000
$2,340 plus 30c for each $1 over $21,600
$58,001 - $70,000
$13,572 plus 42c for each $1 over $58,000

$63,001 - $95,000
$14,760 plus 42c for each $1 over $63,000
Over $70,000
$18,612 plus 47c for each $1 over $70,000

Over $95,000
$28,200 plus 47c for each $1 over $95,000

Personal taxes are paid for all incomes independently of the state they were earned. If some income tax was paid abroad, taxpayer would get discounts. After financial year finishing (July 30) every taxpayer must file a tax, where the whole year income is declared. You will not be arrested due to tax evasion, because it's not a grave offense.
Is it fair In many states you can be arrested due to malicious tax evasion. Really, one man always pay taxes another - try his profits. Frankly speaking, this fact needs some special attention from state authorities. But in general, income tax law can be considered fair enough.
What about simplicity, we have some interesting observations here.

SIMPLICITY
Adam Smith declared that the tax which each individual is bound to pay ought to be certain, and not arbitrary. The time of payment, the manner of payment, the quantity to be paid, ought all to be clear and plain to the contributor, and to every other person.
The uncertainty of taxation encourages the ...Show more

Summary

According to Adam Smith statement in his "Wealth of Nations", the subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.
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Fairness essay example
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