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Thursday, July 29, 2010

Centenary of the Australian Tax Office

Australia Post has issued a commemorative stamp to mark this historic occasion, 100th year of The Australian Taxation Office (ATO).

On 11 November 1910, the Federal Land Tax Branch of the Department of Treasury was established as a central collection office to fund aged care and invalid pensions. This was the forerunner to the ATO. Personal taxation was not introduced until the onset of WWI, which then saw a rapid growth in federal taxation.

The ATO is now responsible for income tax, GSTInformationGSTGoods and Services Tax is a broad based tax on the supply of most goods and services consumed in Australia. The GST rate is 10%. and superannuation as well as administering benefits and refunds such as tax returns and family tax benefits.

Title: Centenary of the Australian Tax Office
Date of Issue: 27 July 2010
Country: Australia
Denominations: 60c