The Tax
Apportionment Calculator, TAC, 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. TAC presents
the result of a computation in a format that is easy to read
and 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.
TAC reduces the risk of error caused by incorrect key entry
because all the figures are displayed. Unlike a desktop
calculator neither the tax rate(s) nor the tax type settings
need to be re-called or re-entered.
TAC 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, when relevant, as either
Year 1 or Year 2 tax settings for 5 countries or for five
user defined 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 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 governments
annual budget
TAC, which also covers basic mathematical calculations,
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.