Income and income tax

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When do we need to pay tax and when don't we? Discover the different types of income and test your knowledge about when and where tax should be paid.

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  • Fact 7

    Australia’s only armed rebellion, at Eureka in October 1854, was over the high cost of a goldmining licence. If a miner did not have a licence on them, they were arrested and the arresting policeman received half the fine.

Capital loss

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

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