Crowdly
Add to Chrome
Questions Bank (1525864 total)
Which of the following is not an allowable revenue deduction?
the depreciation of vehicle
❌
vehicle repairs and maintenance
❌
wages and salaries paid to employees
❌
the purchase price of a new vehicle
✅
View this question
Which of the following is most accurate?
Provisional tax is four payments of tax a year
❌
Penalties can be incurred if provisional tax is underestimated
✅
Provisional tax is paid to Inland Revenue by wage earners
❌
Partnerships are not required to pay provisional tax
❌
View this question
Which one of the following is the main reason for applying a progressive income tax rate?
To attract foreign investments
❌
To encourage people to work
❌
To raise government revenue
❌
To reduce the inequality of income dispersion
✅
View this question
Which form of taxation provides the biggest source of government revenue?
Goods and Services Tax
0%
Excise taxes
0%
Pay as you earn (PAYE)
0%
Company taxes
0%
View this question
A recent review of the tax system (Tax Review Report 2001) found that:
People should think about deeper taxation issues
✅
We should all stop paying tax
❌
The current taxation system in New Zealand is perfect
❌
There are no choices available in the tax system
❌
View this question
Tax avoidance is:
An illegal act of disclosing false information to the IRD
0%
An economic arrangement with the incidental benefit of reducing tax
0%
Refusing to pay the tax bill you receive from the IRD
0%
A legal arrangement with the primary goal of reducing tax
0%
View this question
Which one of the following best explains the reason why the tax rate for GST is often described as regressive?
It is because low income earners pay relatively more GST than high income earners
100%
It is because the GST base is relatively broader in its coverage than the income tax base
0%
It is because the rate is relatively low compared to the income tax rate
0%
It is because GST has very few exemptions
0%
View this question
In New Zealand, the individual tax system can be described as:
Regressive
❌
Proportional
❌
Progressive
✅
Indirect
❌
View this question
CGT stands for:
Company gains tax
0%
Corporate gains tax
0%
Consumer gains tax
0%
Capital gains tax
0%
View this question
Which one of the following is subject to PAYE (pay as you earn) tax?
Business income
0%
Interest income from bank deposit
0%
Employees' salary income
0%
Self-employed people's income
0%
View this question
Previous
1
More pages
139595
139596
139597
139598
139599
More pages
152587
Next
Telegram
Instagram
TikTok
Question Bank
Terms of Use
Contact Us
Add to Chrome