<P> On 8 December 2004 new legislation was passed making it mandatory for an employer that has, or is a member of a group that has, an expected payroll tax liability equal to or greater than $100,000 per annum, to lodge and pay their payroll tax return via Revenue Online (ROL). This amendment to the Payroll Tax Assessment Act 2002 is effective 1 July 2006 . </P> <P> Fringe Benefits Tax is the tax applied by the Australian Taxation Office to most, although not all, fringe benefits, which are generally non-cash benefits . Most fringe benefits are also reported on employee payment summaries for inclusion on personal income tax returns that must be lodged annually . </P> <P> There is no inheritance tax in Australia, with all states in Australia abolishing what was known as death duties in 1979 following the lead of the Queensland Government led by Joh Bjelke - Petersen . However, assets acquired from the estate may become subject to Capital Gains Tax . When one inherits an asset as a beneficiary of the estate of a person who died on or after 20 September 1985, one must keep special records . </P> <P> If the asset was acquired by the deceased person before 20 September 1985, one needs to know the market value of the asset at the date of the person's death and any relevant costs incurred by the executor or trustee . This is the amount that the asset is taken to have cost . </P>

When did the commonwealth government first impose income tax and why