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 11

    The first new tax introduced after Federation was the Bank Notes Tax Act 1910 which introduced an Australian currency. It imposed a 10% tax on bank notes that had been previously issued privately. The new national currency first appeared in December 1910.

Australian business number (ABN)

A business identifier for certain dealings with the ATO, other government departments and agencies, and other businesses.

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