Taxation and Federation (1901)

Taxation and Federation (1901)

tax and federation

At Federation in 1901, the Australian Constitution granted the Commonwealth a monopoly of customs duties and excises and the power to levy other taxes concurrently with the States. One of the significant results of Federation was the removal of all duties on goods traded between Australian states. 

By Federation, many of the colonies had introduced income taxes, each with their own definition of assessable income and different rates applying to differing categories of income. Income taxation was further complicated by some jurisdictions taxing according to the taxpayer’s residency and others taxing according to where income was earned. 

Posted in ,

Similar posts you may like

  • 1784 – The Hat Tax

    In 1784 Pitt the Younger introduced a tax on men’s hats to raise government revenue. The government believed the tax would be equitable as Read more

  • 1973 – Nugent Hand Bank

    Nugan Hand Bank was an infamous Australian merchant bank that was involved in drug smuggling, arranging weapons deals, providing a front for the United Read more

  • Operate Your Business from Home

    Operating your business from home is an option if you spend most of your time working at client premises, deal with clients predominantly over Read more

  • The Clock Tax of 1797

    The Duties on Clocks and Watches Act 1797 was an Act passed by the Parliament of Great Britain instituting a tax on clocks and Read more

"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"

- Bono: U2