In 1910, the Commonwealth Government introduced a land tax to provide for more defence spending and to prepare for the increase in migration. The land tax was chosen to encourage large-scale land owners to subdivide their land and sell it to small-scale settlers.
- Goods and services tax (GST)
A tax of 10% on the supply of most goods and services consumed in Australia.
- Gross salary
The amount of money earned by an employee before any deductions are taken into account.
- Growth phase
A superannuation investment prior to the time when an individual can withdraw funds.
A trust exists when a person or company (called a 'trustee') holds assets on behalf of others who are intended to benefit from the assets, or income from those assets. Those intended to benefit are called 'beneficiaries'.read more glossary terms