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 10

    In 1936, at the request of the Australian Wool Growers Council, a wool tax was imposed to help the production of wool and to extend the use of wool throughout the world. It was levied at 6d (about 5c) per bale on all sales of shorn wool produced in Australia.

Business activity statement (BAS)

A single form used by businesses registered for GST to report their business tax entitlements and obligations including GST, PAYG instalments, PAYG withholding and FBT instalments. See also instalment activity statement.

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