Australia’s growth and prosperity after World War II meant that, in 1959, the ATO collected £823.37 million in revenue - more than double the amount collected in 1949.
- Default fund
The super fund an individual's employer pays their super guarantee payments into if they do not nominate a specific super fund.
A person whom an individual looks after and who needs their financial support, such as a child.
A share of a company's distribution paid to a shareholder.
A business is any activity where goods or services are sold with the intention of making a profit. If the activity has not been set up with the aim of making a profit then it is considered to be a hobby. A business does not include:
- private recreational activities and hobbies
- activities carried on as an employee, labour hire worker, director or office holder
- activities carried on by individuals (other than the trustees of charitable funds) or partnerships without a reasonable expectation of profit or gain.