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Influence of Government – Australian Securities and Investments Commission, company taxation
ASIC – Australian Securities and Investments Commission
- An independent statutory commission accountable to the Commonwealth parliament.
- Enforces and administers the Corporations Act and protects consumers in the areas of investments, life and general insurance, superannuation and banking (except lending) in Australia.
- Ensures Australia’s financial markets are fair and transparent, supported by confident and informed investors and consumers.
Company Taxation
- Companies and corporations in Australia pay company tax on profits.
- Company tax is paid before profits are distributed to shareholders and dividends.
- Examples include the GST, Carbon tax, Mining tax, Fringe benefits tax, Company tax (currently 30%)
Extract from Business Studies Stage 6 Syllabus. © 2010 Board of Studies NSW.