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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.
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]
As the Singapore Government's principal revenue collection body, IRAS collects Income Tax, Goods and Services Tax (GST), [4] Property Tax, Estate Duty, Betting and Sweepstakes Duties, Stamp Duties and Casino Tax. Blogging is taxable in Singapore if it constitute gains or profits from a trade or a business under section 10(1)(a) of the Income ...
Division 9 of the A New Tax System (Goods and Services Tax) Act 1999 (Cth) [14] (GST Act) stipulates that GST is applicable to a supply of goods, services and transactions related to real property, obligations or rights. The supply must be for consideration (GST Act s9-15) to a relevant entity registered for GST (Div 23) in the course of ...
The New South Wales Land and Property Information (NSW LPI), a division of the Department of Finance, Services and Innovation in the government of New South Wales, was the division responsible for land titles, property information, valuation, surveying, and mapping and spatial information in the Australian state of New South Wales.
According to the New South Wales Supreme Court case of AGC (Advances) Ltd v McWhirter, withdrawing a properties reserve price during an auction does not obligate the sale. [25] This is different to the British case, Barry v Davies which found that if an auctioneer removes the reserve, they are bound to sell to a bona fide purchaser.
Foreign territories in Singapore are the plots of land owned by other countries in the Republic of Singapore. There are currently only two separate pieces of land in the country which fall under this category, both of which are owned by Malaysia and fall under its extraterritorial jurisdiction .
Australian tax returns for the tax year beginning 1 July and ending 30 June of the following year are generally due on 31 October after the end of the tax year. [ 1 ] Australian individual taxpayers can file their return online with the ATO's myTax software, by ordering a printed copy of the tax return form, or with the assistance of a tax agent.