Historical information
A series of four videos were produced by the Australian Government to help business's & the country's citizens to understand the new taxation system as Australia underwent one of the biggest tax overhauls in its history on 1 July 2000.
Significance
Australia underwent one of the biggest tax overhauls in its history on 1 July 2000, driven by the Howard Government’s reform package known as A New Tax System (ANTS).
The major changes included.
1. Introduction of the Goods and Services Tax (GST)
2. New Personal Income Tax Scales
3. Major Family Payment Reforms
4. Support for Seniors
5. Private Health Insurance Rebate
6. Fringe Benefits Reporting Changes
7. Business Tax System Overhaul
