Income tax in Australia is imposed by the Federal Government on the taxable income of individuals and corporations. All individuals who earn income in Australia generally pay income tax, unless their income is below a certain threshold or their income is exempt from tax.
Income tax can be charged on:
Individual tax income rates are published on the Australian Taxation Office's website.
The Financial Adviser Standards and Ethics Authority (FASEA) sets the education, training and ethical standards of licensed financial advisers in Australia. The organisation is charged with implementing the Corporations Amendment (Professional Standards of Financial Advisers) Act 2017, to raise the education, training, and ethical standards of financial advisers by requiring relevant providers to hold a degree or higher, or equivalent qualification.
The website is one of the key initiatives in the National Financial Capability Strategy.