What is superannuation?

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  • Fact 11

    The first new tax introduced after Federation was the Bank Notes Tax Act 1910 which introduced an Australian currency. It imposed a 10% tax on bank notes that had been previously issued privately. The new national currency first appeared in December 1910.

Trust

A trust exists when a person or company (called a 'trustee') holds assets on behalf of others who are intended to benefit from the assets, or income from those assets. Those intended to benefit are called 'beneficiaries'.

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