Tax 101 explores the reasons tax is collected and examines how governments use tax to provide services needed by the community, and the role of the ATO. Choose a topic to investigate or use the breadcrumbs to return to the course overview page.
Taxes have changed and evolved over time. Discover the changes made in the Australian tax system and explore the reasons taxes change.
Activities allow teachers to assess students and provide slideshows with course content and/or questions.
Forums allow teachers and students to communicate.
The expenses of World War I were so great that the Commonwealth Government introduced three new taxes in 1917: an entertainment tax, a wartime profits tax and a bachelor tax that raised such a bitter protest that it was never put into operation.
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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