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The "classic definition" of a tax used by the High Court derived from Matthews v Chicory Marketing Board (Vic) (1938), where Chief Justice John Latham stated that a tax was "a compulsory exaction of money by a public authority for public purposes, enforceable by law, and is not a payment for services rendered".
Income tax is collected on behalf of the federal government by the Australian Taxation Office. The two statutes under which income tax is calculated are the Income Tax Assessment Act 1936 and the Income Tax Assessment Act 1997; the former is gradually being re-written into the latter. Taxable income is the difference between assessable income ...
Importantly all medical indemnity coverage now had to be provided as insurance; only by Australian authorized insurers; and the cover offered changed from claims-incurred to claims-made insurance. This provided a better way for insurers to estimate liabilities, hence, stabilize the industry.
Provides guidance as to the constitutional definition of a tax Northern Suburbs General Cemetery Reserve Trust v Commonwealth: 1993 Mason - Case that considered the scope of the taxation power Federal Commissioner of Taxation v Peabody: 1994 Mason - The ATO sought to apply anti-avoidance provisions of the Income Tax Assessment Act 1936 (Cth)
The TFN withheld amount becomes a prepayment of tax by the taxpayer whose funds have been withheld. When the taxpayer files an income tax return he or she would need to claim the so-called "TFN amounts" against his or her final tax liability, and any excess is refunded. The taxpayer needs to file an income tax return to get back the excess of tax.
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.
A person without insurance cover must resort to being a public patient at a public hospital or else carry the cost alone. Extras cover. Some non-medical or allied health services are not covered by Medicare or by standard health insurance, such as dentistry, medical devices and alternative medicine.
The Australian Taxation Office (ATO) administers a pay-as-you-go tax (PAYG) withholding system. Introduced in 1999, it merged 11 previous payment and reporting systems, one of which was a "PAYE" system for employee income, from which the name "PAYG" distinguishes. [8]