Quick tax test: Business tax

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After you've finished all the topics, take the test on Business tax to see if you're a tax expert.

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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.

Allowable deduction

An expense incurred in the course of earning income that can be used to reduce assessable income. Allowable deductions are sometimes simply referred to as deductions.

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