The Australian Taxation Office started as the Commissioner of Land Tax in 1910 with a dozen employees. It was based in the Department of Treasury, situated in Melbourne, which was the seat of the Commonwealth Parliament until 1927.
Julie and Andrew want to know if they will receive a tax refund or have tax payable. Use the data they provided and let them know the result of your calculation.
|Task B4.2 Do we get a refund?|
A business is any activity where goods or services are sold with the intention of making a profit. If the activity has not been set up with the aim of making a profit then it is considered to be a hobby. A business does not include:
- private recreational activities and hobbies
- activities carried on as an employee, labour hire worker, director or office holder
- activities carried on by individuals (other than the trustees of charitable funds) or partnerships without a reasonable expectation of profit or gain.