The Budget: taxes and spending

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The annual Budget shows how tax revenue is collected and how it will be spent. Explore issues concerning the Budget. Investigate how pressures on the Budget can impact on the type and amount of taxes that are levied.

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  • Fact 16

    The monetary cost of World War II was ten times the cost of World War I. Raising revenue via taxation became a vital part of Australia’s war effort.

Capital loss

Occurs when a capital gains tax asset is sold or disposed of for less than its purchase price.

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