What is tax and why do we need it?

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Take the Pre-test: How much do I know about tax? quiz first to find out how much you already know about tax and then start this activity to discover some of the underlying issues relating to tax.

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  • 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.

Income tax rate

The proportion of taxable income that is paid as tax. The income tax rate is expressed as a percentage or in cents-per-dollar. Companies have a set tax rate, unlike individuals, whose tax rate increases as the amount of taxable income increases.

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