Calculating tax due
Type: Theory Start taskRead more
Questions: 3
Attempts allowed: Unlimited
Available: Always
Pass rate: 75%
Passed:
Task B4.1 What is my taxable income?
Type: Mixed Start taskRead more
Questions: 1
Attempts allowed: Unlimited
Available: Always
Pass rate: 75%
Passed:
Task B4.2 Do we get a refund?
Type: Mixed Start taskRead more
Questions: 3
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.

Company tax

Income tax payable by companies. Unlike individuals, companies are taxed at a proportional rate of tax on all their taxable income, with no tax-free amount.

read more glossary terms