Income and income tax
Type: Theory Start taskRead more
Questions: 9
Attempts allowed: Unlimited
Available: Always
Pass rate: 75%
Passed:
Task B1.1 Assessable income
Type: Mixed Start taskRead more
Questions: 15
Attempts allowed: Unlimited
Available: Always
Pass rate: 75%
Passed:
Task B1.2 Assessable income revisited
Type: Mixed Start taskRead more
Questions: 13
Attempts allowed: Unlimited
Available: Always
Pass rate: 75%
Passed:
  • Fact 21

    As overseas travel became more common in the 1960s, the ATO stopped issuing tax clearance certificates (which had previously reminded Australians planning on travel that they must ensure they had paid all tax owed prior to leaving the country).

Allowable deduction

An expense incurred in the course of earning income that can be used to reduce assessable income. Allowable deductions are sometimes simply referred to as deductions.

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