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A capital gains tax (CGT) was introduced in Australia on 20 September 1985, one of a number of tax reforms by the Hawke/Keating government. The CGT applied only to assets acquired on or after that date, with gains (or losses) on assets owned on that date, called pre-CGT assets, not being subject to the CGT.
MELBOURNE (Reuters) -President Donald Trump's vow of tariffs on U.S. copper and aluminium imports would result in higher costs for local consumers because of a shortfall of domestic production and ...
In 1884, a general tax on income was introduced in South Australia, and in 1895 income tax was introduced in New South Wales at the rate of six pence in the pound, or 2.5%. [6] Federal income tax was first introduced in 1915, in order to help fund Australia's war effort in the First World War. [7]
It mines and manufactures bauxite, alumina and primary aluminium. Rio Tinto Aluminium is a wholly owned subsidiary of Rio Tinto Group and provides about 20% of Australia's total production of bauxite, 8% of its alumina and 24% of its primary aluminium. In 2002, Rio Tinto Aluminium earned US$256 million for its shareholder Rio Tinto.
Australian Prime Minister Scott Morrison said on Monday aluminium exporters are complying with the terms of a deal with the United States after the New York Times reported President Donald Trump ...
Capital gains tax (CGT) in Australia is part of the income tax system rather than a separate tax. [22] Capital gains tax was introduced by the Hawke Labor government in September 1985 and allowed for indexation of the cost base of the capital asset to the Consumer Price Index, to account for annual price inflation.
It was a replacement for the proposed Resource Super Profit Tax (RSPT). The tax, levied on 30% of the "super profits" from the mining of iron ore and coal in Australia, was introduced on 1 July 2012. [1] A company was to pay the tax when its annual profits reach $75 million, a measure designed so as not to burden small business. [2]
Australia Tax is a phrase applied to the generally higher prices in Australia of goods and services than equivalent costs in comparative overseas nations such as the United States. This is particularly the case for video games , [ 1 ] computer hardware, and software but may extend to non-technological items such as cars, designer clothing and ...