What is tax and why do we need it?

Course categories: 
Activity required for the course validation: 
Hide from Catalogue: 
No
Group roles and permissions: 
Override default roles and permissions

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.

Activities allow teachers to assess students and provide slideshows with course content and/or questions.

Forums allow teachers and students to communicate.

  • 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'.

read more glossary terms