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Assessment Task 1- Project

Analysis of business

A business is composition of various departments to run smoothly in order to earn. Every business performs various functions that add to the profitability of the running business. The other aspects include in the business are marketing department, accounting department, human resource department and others. The operational department performs the operations which are core in nature in the running business. Operational Management is taken into consideration for its conversion of raw into processed and useful goods (Festa, et al. 2017).

Including the financial analysis in this operational department defines the operating income in the business. Operating income, operating profit or Earnings before Interest and Taxes (EBIT) are all used with the same meaning. It defines the amount of the revenue left after adjusting the operational cost or direct cost in the business.

The calculation in determining the operational income is estimated with the following formulae, 
 
Operating Income = Total Revenue -  Direct Costs –Indirect Costs
Or
 
Operating Income = Net earnings + Interest Expenses+  Taxes
Or
 
Operating Income = Gross Profit – Operating Expenses – Depreciation – Amortization

It is very important to know the operating profit in the organisation to know its core health and the profit rose from operational sector. As operational management, is the basic and core element of the performing business and whole management is directly depended on it. The reasons which can be reviewed for the strong operating profits in the business are strong sales, cut in the core costs, highly competent staff and machinery, eliminated communication barriers and others. These are the crucial points which are to be under taken while analysing the operating profit in the business (de Souza Sampaio Filho, Vellasco, & Tanscheit, 2018).

With the working in Australian Market the tax structure in the year 2019 is all based on the calculation of the income assessed for the particular year. The tax is being calculated on the income assessed for a particular year for a particular person residing in the country.

The current tax structure prevailing in Australian Market is tabulated as under:
business financial project

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Source

In accordance to the above tabulated structure of the taxes for the residents of Australia depicts the slab containing individual rate for every income slab (Ryan, & Ryan, 2012).

Types of Australian Business Taxes imposed on the business are:

Company Tax
The company tax are related to tax imposed on the resident and non resident of Australia.

Capital Gains Tax
This tax includes the rate of tax which is applied on any disposal of type assets in the market of Australia.

Goods and Service Tax
The GST is imposed on the trading of goods and services sold in Australian market. It is being levied on consumer.

Payroll Tax
Payroll Tax is a kind of tax which is imposed on the wages or the salaries given in a company. This is differently imposed depending upon the rate of wages and salaries and also with difference in geographical locations.

Other Business Tax
All kinds of other taxes in special cases are considered under this head.

 

 

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