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South Australia was the first Australian state to introduce a land tax, based on the unimproved capital value of land, in 1884. [6] [7] In 1910, George Allen (first secretary to the Treasury) founded the Land Tax Office to service land taxes at the federal level as a form of wealth tax and as a means to break up large tracts of underutilised land.
In 1964, compulsory national service for 20-year-old males was introduced under the National Service Act 1964. The selection of conscripts was made by a sortition or lottery draw based on date of birth, and conscripts were obligated to give two years of continuous full-time service, followed by a further three years on the active reserve list ...
This is the most recent list of Australian states and territories by gross state product (GSP) and GSP per capita. Also included are the GSP and population growth tables as well as a comparison table showing the surplus/deficit between state final demand (SFD) and GSP for the same financial year.
1893: a major international depression and the speculative property boom of the 1880s, led to the Australian banking crisis of 1893 and a serious economic depression. 11 commercial banks failed or temporarily closed to avoid a run, including the National Bank of Australasia and the Commercial Bank of Australia.
In 1958, Australian country music singer Slim Dusty, who would become the musical embodiment of rural Australia, had Australia's first international music chart hit with his bush ballad "A Pub with No Beer", [13] while rock and roller Johnny O'Keefe's Wild One became the first local recording to reach the national charts, [14] peaking at #20.
The Australian property market comprises the trade of land and its permanent fixtures located within Australia. The average Australian property price grew 0.5% per year from 1890 to 1990 after inflation, [1] however rose from 1990 to 2017 at a faster rate. House prices in Australia receive considerable attention from the media and the Reserve ...
In 1951, the first call ups were made under the National Service Act, which provided for compulsory military training of 18-year-old men, who were then to remain on the Army Reserve for five years. The Scheme trained 227,000 men between 1951 and 1960 (when it ended). [19] In 1952, a program of British nuclear weapons testing began in Australia.
The National Service Act 1951 is a repealed Act of the Parliament of the Commonwealth of Australia. [1] It provided for the compulsory call-up of males turning 18 on or after 1 November 1950, for service training of 176 days. [2] Trainees were required to remain on the Reserve of the Commonwealth Military Forces (CMF) for five years from ...