Income and income tax

When do we need to pay tax and when don't we? Discover the different types of income and test your knowledge about when and where tax should be paid.

Income and income tax
Type: Theory
Questions: 9
Attempts allowed: Unlimited
Available: Always
Pass rate: 75%
Passed:
  • Fact 6

    'Bottom of the harbour' schemes were a form of tax avoidance used in Australia in the 1970s. The 'harbour' referred to was Sydney Harbour, which was near the financial district. Participation in the schemes was made a criminal offence in 1980.

Cash investments

Investments such as term deposits, cash management trusts or short-term government bonds.

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