Tax

Tax is defined as mandatory contributions levied on an individual or corporations by a local, state or federal government entity.

Tax revenues finance government activities, including public works and services such as roads, schools, healthcare, defence, education, welfare and pensions, disaster relief and any other government related expenses.

In basic terms, every Australian resident with an income has to pay a certain percentage of their salary to the government in order to facilitate these government related expenses.

The amount one pays is entirely dependent on how much they earn in a financial year. The more you earn, the more tax you will pay.

Lesson Content

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What is tax?

Where does my tax go?

Tax brackets and rates

Tax free threshold

How to claim your tax return

What can and can’t I claim on tax?

Work-related expenses

What about working from home?

Running expenses