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Tax,
History Australia
When the
first Governor, Governor Phillip, arrived in New South Wales in
1788, he had a Royal Instruction that gave him power to impose
taxation if the colony needed it.
The first
taxes in Australia were raised to help pay for the completion of
Sydney's
first gaol
and provide for the orphans of the colony. Import duties were put on
spirits,
wine and
beer and later on luxury goods.
Australia’s taxation system underwent a major
overhaul in July 2000 with the implementation of The New Tax
System. One of the new taxation measures is a ten per cent
Goods and Services Tax (GST) on most goods, replacing Wholesale
Sales Tax.
The New Tax System was introduced to assist:
-
individuals – about 80 per cent of Australians
pay a tax rate of 30 cents in the dollar
-
small businesses – taxes paid once a quarter
using just one form
-
pensioners – a four per cent rise for pensions
and allowances, and
-
country Australia – for heavy transport in
rural/regional areas, a reduction in the cost of diesel.
Tax: A compulsory contribution
of money made to government to provide for services for the common
good.
Ability to pay: The more you
make the more you pay.
Direct tax: A tax levied on a person or business that is not
passed on to others (example: income tax).
fair-share: Each person pays only his fair share of taxes.
Hidden tax: Taxes you are not aware of paying.
Indirect tax: A tax passed on to others.
Incidence of Tax: The amount of a tax that ultimately falls on
households, irrespective of whom initially pays the tax. i.e. a tax
on a business activity or product that passes to the consumer. |
