|
Australian Business Number
The Australian Business Number (ABN) is a unique 11-digit identifier issued by the Australian Business Register (ABR) which is operated by the Australian Taxation Office (ATO). The ABN was introduced on 1 July 2000 by John Howard's Liberal government as part of a major tax reform, which included the introduction of a GST. The law requires each entity that carries on a business in Australia has an ABN and that the ABN appear on each tax invoice and other tax related documents issued by the entity. Australian Business Register The Australian Business Register (ABR) is maintained by the Registrar of the ABR, who is also the Commissioner of Taxation. The Registrar registers entities, issuing them with an ABN, while the Commissioner of Taxation issues the entity a tax file number. Entitlement to an ABN The Registrar issues ABNs only to entities that are entitled to an ABN, which can be: * an individual, * a body corporate, * a corporation sole, * a body politic, * a partnership, * a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Company Number
An Australian Company Number (usually shortened to ACN) is a unique identifier required by every company registered under Australia’s ''Corporations Act 2001'' (Cth). The ACN is a nine-digit number issued by the Australian Securities & Investments Commission (ASIC) to every Australian company. The number is usually printed in three groups of three digits, and preceded by the letters ACN must be quoted on all correspondence and invoices issued by the company. A company may also be required to have a Tax File Number (TFN) and an Australian Business Number (ABN). If a company has an ABN, it may use the ABN in place of the ACN on documents, preceded by the letters ABN. A similar nine-digit (ARBN) is used for non-company entities such as registerable Australian bodies, and for foreign companies. History The Australian Company Number (ACN) was adopted in Australia on 1 July 2000, as one of the complementary measures when the Goods and Services Tax (GST) was introduced. All com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Taxation Office
The Australian Taxation Office (ATO) is an Australian statutory agency and the principal revenue collection body for the Australian Government. The ATO has responsibility for administering the Australian federal taxation system, superannuation legislation, and other associated matters. Responsibility for the operations of the ATO are within the portfolio of the Treasurer of Australia and the Treasury. As the Australian government's principal revenue collection body, the ATO collects income tax, goods and services tax (GST) and other federal taxes. The ATO also has responsibility for managing the Australian Business Register, delivering the Higher Education Loan Program, delivering many Australian government payments and administering key components of Australia's superannuation system. History During the colonial period of the 1800s, a number of landholders had secured large tracts of arable land in Australia. After the states federated in 1901 to form the Commonwealth ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Howard
John Winston Howard (born 26 July 1939) is an Australian former politician who served as the 25th prime minister of Australia from 1996 to 2007, holding office as leader of the Liberal Party. His eleven-year tenure as prime minister is the second-longest in history, behind only Sir Robert Menzies, who served for eighteen non-consecutive years. Howard was born in Sydney and studied law at the University of Sydney. He was a commercial lawyer before entering parliament. A former federal president of the Young Liberals, he first stood for office at the 1968 New South Wales state election, but lost narrowly. At the 1974 federal election, Howard was elected as a member of parliament (MP) for the division of Bennelong. He was promoted to cabinet in 1977, and later in the year replaced Phillip Lynch as treasurer of Australia, remaining in that position until the defeat of Malcolm Fraser's government at the 1983 election. In 1985, Howard was elected leader of the Liberal Party f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liberal Party Of Australia
The Liberal Party of Australia is a centre-right political party in Australia, one of the two major parties in Australian politics, along with the centre-left Australian Labor Party. It was founded in 1944 as the successor to the United Australia Party and has since become the most successful political party in Australia's history. The Liberal Party is the dominant partner in the Coalition with the National Party of Australia. At the federal level, the Liberal Party and its predecessors have been in coalition with the National Party since the 1920s. The Coalition was most recently in power from the 2013 federal election to the 2022 federal election, forming the Abbott (2013–2015), Turnbull (2015–2018) and Morrison (2018–2022) governments. After the Liberal Party lost the 2022 Australian federal election, Morrison announced he would step down as leader of the Liberal Party. Deputy Leader Josh Frydenberg also lost his seat, making senior Liberal MP Peter Dutton ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Goods And Services Tax (Australia)
Goods and Services Tax (GST) in Australia is a value added tax of 10% on most goods and services sales, with some exemptions (such as for certain food, healthcare and housing items) and concessions (including qualifying long term accommodation which is taxed at an effective rate of 5.5%). GST is levied on most transactions in the production process, but is in many cases refunded to all parties in the chain of production other than the final consumer. The tax was introduced by the Howard government and commenced on 1 July 2000, replacing the previous federal wholesale sales tax system and designed to phase out a number of various State and Territory Government taxes, duties and levies such as banking taxes and stamp duty. An increase of GST to 15% has been put forward, but is generally lacking in bipartisan support. Introduction of GST Les Bury, federal treasurer in the Gorton government from 1969 to 1971, was an early supporter of a broad-based national consumption tax, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax File Number
A tax file number (TFN) is a unique identifier issued by the Australian Taxation Office (ATO) to each taxpaying entity — an individual, company, superannuation fund, partnership, or trust. Not all individuals have a TFN, and a business has both a TFN and an Australian Business Number (ABN). If a business earns income as part of carrying on its business, it may quote its ABN instead of its TFN. The TFN was introduced initially to facilitate file tracking at the ATO, but has since been expanded to encompass income and other data matching. The TFN consists of a nine digit number, usually presented in the format ''nnn nnn nnn''. Strict laws require that TFNs may be recorded or used only for specifically authorised tax-related purposes. The TFN serves a purpose similar to the American Social Security number, but its use is strictly limited by law to avoid the functionality creep which has affected the US counterpart. It also serves a similar function as national insurance in the U ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reviewable Taxation Decisions
The decisions of by Australia's Commissioner of Taxation broadly fall into two categories: reviewable and non-reviewable. Reviewable decisions may be objected against first through an administrative process.Part IVC of the Taxation Administration Act 1953 (Cth). Process A taxpayer objects to a decision and this is first reviewed by an officer of the Australian Taxation Office. The objection is either allowed, in which case the taxpayer has generally won, or it is disallowed, in which case the taxpayer can object to the disallowance. If the taxpayer objects to a disallowance, the same process takes place but with a member of the Administrative Appeals Tribunal The Administrative Appeals Tribunal (AAT) is an Australian tribunal that conducts independent merits review of administrative decisions made under Commonwealth laws of the Australian Government. The AAT review decisions made by Australian Gover ... instead of a taxation officer. Following a disallowance at the Adminis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Checksum
A checksum is a small-sized block of data derived from another block of digital data for the purpose of detecting errors that may have been introduced during its transmission or storage. By themselves, checksums are often used to verify data integrity but are not relied upon to verify data authenticity. The procedure which generates this checksum is called a checksum function or checksum algorithm. Depending on its design goals, a good checksum algorithm usually outputs a significantly different value, even for small changes made to the input. This is especially true of cryptographic hash functions, which may be used to detect many data corruption errors and verify overall data integrity; if the computed checksum for the current data input matches the stored value of a previously computed checksum, there is a very high probability the data has not been accidentally altered or corrupted. Checksum functions are related to hash functions, fingerprints, randomization functi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation In Australia
Income taxes are the most significant form of taxation in Australia, and collected by the federal government through the Australian Taxation Office. Australian GST revenue is collected by the Federal government, and then paid to the states under a distribution formula determined by the Commonwealth Grants Commission. Australia maintains a relatively low tax burden in comparison with other wealthy, developed nations, at 27.8% of GDP in 2018. History When the first Governor, Governor Phillip, arrived in New South Wales in 1788, he had a Royal Instruction that gave him power to impose taxation if the colony needed it. The first taxes in Australia were raised to help pay for the completion of Sydney's first gaol and provide for the orphans of the colony. Import duties were put on spirits, wine and beer and later on luxury goods. After 1824 the Government of New South Wales raised extra revenue from customs and excise duties. These were the most important sources of revenue for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Company Registers
This is a list of official business registers around the world. There are many types of official business registers, usually maintained for various purposes by a state authority, such as a government agency, or a court of law. In some cases, it may also be devolved to self-governing bodies, either commercial (a chamber of commerce) or professional (a regulatory college); or to a dedicated, highly regulated company (i.e., operator of a stock exchange, a multilateral trading facility, a central securities depository or an alternative trading system). The following is an incomplete list of official business registers by country. Types of registers A business register may include data on entities, as well as on their status for various purposes. Examples of such registers include: * company register — a register of legal entities in the jurisdiction they operate under, for the purpose of establishing, dissolving, acquisition of legal capacity and (in some cases) jur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Identification Numbers
A national identification number, national identity number, or national insurance number or JMBG/EMBG is used by the governments of many countries as a means of tracking their citizens, permanent residents, and temporary residents for the purposes of work, taxation, government benefits, health care, and other governmentally-related functions. The ways in which such a system is implemented vary among countries, but in most cases citizens are issued an identification number upon reaching legal age, or when they are born. Non-citizens may be issued such numbers when they enter the country, or when granted a temporary or permanent residence permit. Many countries issued such numbers for a singular purpose, but over time, they become a ''de facto'' national identification number. For example, the United States developed its Social Security number (SSN) system as a means of organizing disbursing of Social Security benefits. However, due to function creep, the number has become used ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
.png "Click for more on -> Taxation In Australia")
