The goods and services tax (GST)

Discover how to calculate the goods and services tax (GST) for various items and discuss what constitutes a fair tax.

The goods and services tax (GST)
Type: Theory
Questions: 4
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.

PAYG withholding

A system used by employers to withhold ]income tax from employees and other workers.

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