6.5 Income: Taxation Issues

This section covers the current method of accounting for income and tax deductions from income where:

  • GST is included in income received
  • Withholding tax is deducted (e.g. because a TFN is not quoted to the payer)
  • Foreign tax is deducted from income from foreign sources



about the author:

Lorraine Cobcroft

With a background in accounting and financial management, followed by two decades writing software documentation, Lorraine joined the Mclowd team in mid-2016 and is enjoying working with a dynamic team to enhance an innovative product that has the potential to revolutionize the way Australians manage their retirement funding. Lorraine is also an accomplished business writer, ghost-writer, novelist and short-story writer and poet.

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