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.
Ever wondered what proportional, progressive and regressive taxes are? Find out what they are. See how they work.
The example of a regressive structure looks at motor vehicle registration. A regressive tax is a tax where the same amount is paid, regardless of the level of income.
|Task A2.1 Types of taxes: regressive tax|