The first taxes in Australia were raised to help pay for the completion of Sydney's first gaol and provide for the orphans of the colony. Import taxes were put on spirits, wine and beer.
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- 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.