Australian Business Number
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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 Party of Australia, Liberal government as part of a major tax reform, which included the introduction of a Goods and Services Tax (Australia), 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 corporat ...
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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 The ''Corporations Act 2001'' (Cth) is an Act of Parliament, Act of the Parliament of Australia, which sets out the laws dealing with business entity, business entities in the Commonwealth of Australia. The company is the Act's primary focus, b ...'' (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 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 (AT ...
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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 An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable 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 ...
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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 of Australia, 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 (Australia), Young Liberals, he first stood for office at the 1968 New South Wales state election, but lost narrowly. At the 1974 Australian federal election, 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 govern ...
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Liberal Party Of Australia
The Liberal Party of Australia is a Centre-right politics, centre-right list of political parties in Australia, political party in Australia, one of the two Major party, major parties in politics of Australia, 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 List of prime ministers of Australia by time in office#Political parties by time in office, most successful political party in Australia's history. The Liberal Party is the dominant partner in the Coalition (Australia), 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 Australian federal election, 2013 federal election to the 2022 Australian federal election, 2022 federal election, forming the Abbott Government, Abbott (2013–2015), ...
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Goods And Services Tax (Australia)
Goods and Services Tax (GST) in Australia Australia, officially the Commonwealth of Australia, is a sovereign country comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands. With an area of , Australia is the largest country by ... 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 A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow the seller to collect funds for the tax ...
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Tax File Number
A tax file number (TFN) is a unique identifier issued by the 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, superannuat ... (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 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 Party ... (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 b ...
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Reviewable Taxation Decisions
The decisions of by Australia Australia, officially the Commonwealth of Australia, is a sovereign country comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands. With an area of , Australia is the largest country by ...'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 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, superannuat .... The objection is either allowed, in which case the taxpayer has generally won, or it is disallowed, in whic ...
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Checksum
A checksum is a small-sized Block (data storage), block of data derived from another block of digital data for the purpose of error detection, detecting errors that may have been introduced during its telecommunication, transmission or computer storage, storage. By themselves, checksums are often used to verify data integrity but are not relied upon to verify data authenticity. The algorithm, 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. Check ...
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Taxation In Australia
Income taxes are the most significant form of taxation in Australia, and collected by the Government of Australia, federal government through the Australian Taxation Office. Australian Goods and Services Tax (Australia), 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, Arthur Phillip, 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 cust ...
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List Of Company Registers
This is a list of official business registers around the world. There are many types of official Company register, 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-regulated organization, 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, Dissolution (law), dissolv ...
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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 citizen Citizenship is a "relationship between an individual and a state to which the individual owes allegiance and in turn is entitled to its protection". Each state determines the conditions under which it will recognize persons as its citizens, and ...s, permanent resident Permanent residency is a person's domicile (law), legal resident status in a country or territory of which such person is not a citizenship, citizen but where they have the right to reside on a permanent basis. This is usually for a permane ...s, 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 r ...
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