Task A2.1 Types of taxes: income tax

Ever wondered what proportional, progressive and regressive taxes are? Find out what they are. See how they work.

Task A2.1 Types of taxes: income tax
Type: Quiz
Questions: 2
Attempts allowed: Unlimited
Available: Always
Pass rate: 75%
  • Fact 13

    During World War I, many taxpayers felt that it was their patriotic duty to pay more than their assessed tax. Some were not legally obliged to pay tax but did so and others made payments of double, treble or quadruple the assessed amounts.

Capital loss

Occurs when a capital gains tax asset is sold or disposed of for less than its purchase price.

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