Working and paying tax

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What do you need to know when you enter the workforce to ensure that you are paying the correct amount of tax?

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  • 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.

Retirement savings account (RSA)

A savings account set up specifically for the purpose of saving funds for retirement.

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