Explaining business taxes

A range of taxes can apply to businesses. Explore what these taxes can include and look at the needs of businesses in relation to government services.

Explaining business taxes
Type: Theory
Questions: 8
Attempts allowed: Unlimited
Available: Always
Pass rate: 75%
Passed:
  • Fact 21

    As overseas travel became more common in the 1960s, the ATO stopped issuing tax clearance certificates (which had previously reminded Australians planning on travel that they must ensure they had paid all tax owed prior to leaving the country).

Self-managed super fund (SMSF)

A super fund set up and operated by an individual or group of people for their own retirement benefit.

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