The changeover to decimal currency in 1966 created a massive amount of work for the ATO. In NSW alone, staff manually converted 200,000 accounts worth $450 million.
- Eligible rollover fund (ERF)
A regulated superannuation fund or an approved deposit fund.
An individual, sole trader, body corporate, company, corporation, partnership, trust or superannuation fund.
A tax on certain goods produced or manufactured in Australia. These goods include alcohol, tobacco and petroleum. Customs duty at an equivalent rate is levied on imported goods to ensure that these goods are treated consistently with local goods.
- Exempt income
Income that is not taxable, for example, an invalidity pension.