Role of the ATO
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Questions: 1
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Task A6.1 Mad minute tax facts
Type: Theory Start taskRead more
Questions: 1
Attempts allowed: Unlimited
Available: Always
Pass rate: 75%
Passed:
  • Fact 12

    The expenses of World War I were so great that the Commonwealth Government introduced three new taxes in 1917: an entertainment tax, a wartime profits tax and a bachelor tax that raised such a bitter protest that it was never put into operation.

Assessable income

Gross income, including salary and wages, dividends, interest and rent before any deductions are allowed. Assessable income also includes net capital gains and other amounts that are not ordinarily classed as income.

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