The changeover to decimal currency in 1966 created a massive amount of work for the ATO. In NSW alone, staff manually converted 200,000 accounts worth $450 million.
Find out how myTax works and communicate your findings using your preferred form of social media.
| Task B3.2 Lodging your tax return | ||
|---|---|---|
| Type: | Mixed | |
| Questions: | 1 | |
| Attempts allowed: | Unlimited | |
| Available: | Always | |
| Pass rate: | 75% | |
| Passed: |
|
|
-
Fact 22
Income tax rate
The proportion of taxable income that is paid as tax. The income tax rate is expressed as a percentage or in cents-per-dollar. Companies have a set tax rate, unlike individuals, whose tax rate increases as the amount of taxable income increases.
read more glossary terms