Australia's general jurisdictional rules are based on the 'world-wide' rather than the 'territorial' approach to income taxation. True False
Question
Australia's general jurisdictional rules are based on the 'world-wide' rather than the 'territorial' approach to income taxation. True False
Solution
True. Australia's tax system is based on a worldwide approach, meaning Australian residents are generally taxed on their worldwide income from all sources. Non-residents are taxed only on their Australian-sourced income.
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