Interactive - The story of tax

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The story of tax is a short interactive that highlights the direct link between the effectiveness of the tax system and the enrichment of the community.

It can be used as a quick overview of how tax has evolved over time in an Australian context. The interactive includes six pause points with accompanying text.

The story of tax – accessible text transcript.

The story of tax worksheets:

 The story of tax - PDF version

 

  • Fact 9

    The Australian Taxation Office started as the Commissioner of Land Tax in 1910 with a dozen employees. It was based in the Department of Treasury, situated in Melbourne, which was the seat of the Commonwealth Parliament until 1927.

Capital gains tax (CGT)

A tax on the profit made when selling or disposing of an asset such as investment properties, shares and collectables. The net capital gain amount, or the discounted capital gain amount in certain circumstances where a discount applies, is added to assessable income and income tax is then calculated on the taxable income. A person’s main residence (their home) is generally exempt and motor vehicles are exempt from CGT.

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