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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. Australians pay tax for the provision of healthcare , education , defense, roads and railways and for payments to welfare, disaster relief and pensions .
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. [1] Not all individuals have a TFN, and a business has both a TFN and an Australian Business Number (ABN).
The rates for resident individual taxpayers are different from those for non-resident taxpayers (see below). The current tax-free threshold for resident people is $18,200, and the highest marginal rate for individuals is 45%. In addition, most Australians are liable to pay the Medicare levy, of which the standard is 2% of taxable income. [7]
An entity can apply for an ABN: [11] online through the Australian Business Register portal, using the services of a registered tax agent, or; lodging a paper-based application with the ATO. Before applying for an ABN the entity must have a tax file number (TFN). [12]
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.
The Australian Seniors Card is a card issued by various Australian State and Territory governments to permanent residents, over a particular age, who work no more than a set number of paid hours per week, or based on state or territory requirements. [1] In New South Wales(NSW) for example, green Medicare card holders can apply
New Zealand citizens who entered Australia before 1 September 1994 (regardless of the purpose of entry) are considered "former Australian permanent residents", and eligible to apply for a Resident Return Visa (RRV). An RRV can be issued to former Australian permanent residents who wish to restore their permanent residence status.
Australian permanent residents are residents of Australia who hold a permanent visa but are not citizens of Australia. A holder of a permanent visa may remain in Australia indefinitely. A 5-year initial travel facility, which corresponds to the underlying migration program, is granted alongside the permanent visa.