3 (Australian Taxes)[1]

Transfers of land transfers of shares in land rich

Info icon This preview shows pages 5–8. Sign up to view the full content.

View Full Document Right Arrow Icon
Transfers of land § Transfers of shares in “land rich”  companies § Insurance policies § Motor vehicle registrations and  transfers § Payroll tax – imposed on wages  (including bonuses, allowances,  superannuation contributions and  certain fringe benefits) provided by  employers to their employees § Land tax – imposed on the taxable  value of land owned in a State GST arrangements GST arrangements § GST is paid by Commonwealth to 
Image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
States  § Intergovernmental Agreement on the  Reform of Commonwealth-State  Financial Relations § States have abolished certain taxes in  return for GST revenue, eg: § Financial institutions duty § Debits tax § Bed taxes § Stamp duty on marketable securities History of taxation in History of taxation in     Australia Australia § Colonial taxes § Customs and excise duties § Licence fees for gold miners § Estate duties § Land tax
Image of page 6
§ Income tax § Federation in 1901 § Commonwealth has power to levy  taxes  § States lose power to levy customs  and excise duties Some key years Some key years § Customs and excise duties (1902) § Income tax (1915) § Sales tax (1930) § Uniform tax scheme (1942) § Part IVA general anti-avoidance regime  (1981) § Medicare levy (1983)  § Capital gains tax (1985) § Fringe benefits tax (1986) § Goods and services tax (2000)
Image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 8
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern