The following two sources of taxation revenue are projected to make up more than 50% of Australia's taxation revenue in the 2021-22 income year.
Question 1 options:
a)
None of the available options
b)
Large Business and Superannuation Funds.
c)
Fringe Benefits and Company Tax.
d)
Individuals and Goods and Services Tax (i.e. sales tax).
In the 2021-22 income year, it is projected that more than half of Australia's taxation revenue would come from Individuals and Goods and Services Tax (GST) and Company Tax. Therefore, the correct answer to your question would be:
d) Individuals and Goods and Services Tax (i.e., sales tax).
This indicates that the combined contribution from individual taxpayers and the consumption tax, which includes the GST, is expected to constitute a majority of the country's tax income.
