The monetary cost of World War II was ten times the cost of World War I. Raising revenue via taxation became a vital part of Australia’s war effort.
|Task C1.3 About ABNs|
Australia's tax system works on self-assessment. When a taxpayer completes their income tax return, they must show all of their income and only claim allowable deductions and tax offsets to which they are entitled. The ATO issues a notice of assessment based on the information provided in the tax return.read more glossary terms