What is tax and why do we need it?
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Questions: 6
Attempts allowed: Unlimited
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Pass rate: 75%
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Task A1.1 Street talk
Type: Theory Start taskRead more
Questions: 1
Attempts allowed: Unlimited
Available: Always
Pass rate: 75%
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  • Fact 25

    The first computers used by the ATO were used primarily for issuing the five million refund cheques sent out each year in the mid 1960s.

Franking credit

A credit paid to shareholders for the tax already paid on a dividend distribution by the company. Franking dividends were formerly called imputation credits.

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