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Brief Description: TAC, The Tax Apportionment Calculator
Full Description: The Tax Apportionment Calculator is an arithmetical and tax calculator that provides a fast and easy way to calculate Goods & Services Tax (GST), or Income Tax or Sales Tax or Value Added Tax (VAT) and apportion tax and expenses or income across different cost centres. The result of a computation is shown in a format that is easy to check visually.
In contrast to a desktop calculator with a one-line display panel, TAC shows the Inclusive, Exclusive and Tax amount for the total and apportionment columns. At the same time TAC displays the tax type, tax rate plus the basis used for an apportionment. This reduces the risk of error caused by incorrect key entry because all the figures are displayed.
The system settings cover two tax years for five different countries. Tax Types, Tax Rate(s), and Tax Year settings may be changed quickly and saved as either Year 1 or Year 2 tax settings for different names.
The five-default country names may be changed to one of 160 country names listed in the calculator or to a user defined name that may relate to a State, Region, Company, Charity, Individual or special tax case. This powerful feature makes it easier to set the default tax types and rates to cater for different tax cases under National (Federal) and or State taxes or new tax rates planned for in a government's annual budget.
TAC was designed for accounting staff, auditors, business people, financial planners, investigators, lawyers and other computer users who wish to save time and have all the tax figures calculated quickly.
For instance allocate tax and costs between business and private expenditure. Apportion income or expenditure and tax to a number of cost centres. Calculate GST, or Sales Tax, or VAT on any price quoted exclusive or inclusive of tax. Check invoices, discounts, margins and volume discounts. Forward plan using different income tax rates and check the tax effect of new tax rates.
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