What is tax and why do we need it?
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Questions: 6
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Task A1.1 Street talk
Type: Theory Start taskRead more
Questions: 1
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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.

Tax-free threshold

Individuals who are Australian residents for taxation purposes pay no tax on the first $18,200 taxable income for the full financial year. This is called the tax-free threshold. They may claim the tax-free threshold from one employer only. Non-residents cannot claim the tax-free threshold.

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