Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in payment of a debt extinguishes the debt. There is no obligation on the creditor to accept the tendered payment, but the act of tendering the payment in legal tender discharges the debt.
The Australia Act 1986 is the short title of each of a pair of separate but related pieces of legislation: one an Act of the Commonwealth Parliament of Australia, the other an Act of the Parliament of the United Kingdom. In Australia they are referred to, respectively, as the Australia Act 1986 (Cth) and the Australia Act 1986 (UK). These nearly identical Acts were passed by the two parliaments, because of uncertainty as to whether the Commonwealth Parliament alone had the ultimate authority to do so. They were enacted using legislative powers conferred by enabling Acts passed by the parliaments of every Australian state. The Acts came into effect simultaneously, on 3 March 1986.
In many states with political systems derived from the Westminster system, a consolidated fund or consolidated revenue fund is the main bank account of the government. General taxation is taxation paid into the consolidated fund, and general spending is paid out of the consolidated fund.
The pound was the currency of Australia from 1910 until 14 February 1966, when it was replaced by the Australian dollar. As with other £sd currencies, it was subdivided into 20 shillings, each of 12 pence.
Section 51 of the Constitution of Australia enumerates the legislative powers granted to the Parliament of Australia by the Australian States at Federation. Each subsection, or 'head of power', provides a topic under which the parliament is empowered to make laws. There are other sections in the constitution that enable the parliament to enact laws, although the scope of those other sections are generally limited in comparison with section 51.
Australian constitutional law is the area of the law of Australia relating to the interpretation and application of the Constitution of Australia. Several major doctrines of Australian constitutional law have developed.
The second question of the 1967 Australian referendum of 27 May 1967, called by the Holt Government, related to Indigenous Australians. Voters were asked whether to give the Federal Government the power to make special laws for Indigenous Australians in states, and whether in population counts for constitutional purposes to include all Indigenous Australians. The term "the Aboriginal Race" was used in the question.
The Constitution Alteration Bill 1946, was a successful proposal to alter the Australian Constitution to give the Commonwealth power over a range of social services. The question was put to a referendum in the 1946 Australian referendum with two other (unrelated) questions. It was carried and inserted into section 51 of the Australian Constitution.
The constitutional basis of taxation in Australia is predominantly found in sections 51(ii), 90, 53, 55, and 96, of the Constitution of Australia. Their interpretation by the High Court of Australia has been integral to the functioning and evolution of federalism in Australia.
A private currency is a currency issued by a private entity, be it an individual, a commercial business, a nonprofit or decentralized common enterprise. It is often contrasted with fiat currency issued by governments or central banks. In many countries, the issuance of private paper currencies and/or the minting of metal coins intended to be used as currency may even be a criminal act such as in the United States. Digital cryptocurrency is sometimes treated as an asset instead of a currency. Cryptocurrency is illegal as a currency in a few countries.
Section 51(vi) of the Australian Constitution, commonly called the defence power, is a subsection of Section 51 of the Australian Constitution that gives the Commonwealth Parliament the right to legislate with respect to the defence of Australia and the control of the defence forces. The High Court has adopted a different approach to the interpretation of the defence power, which emphasises the purpose of the legislation, primarily the defence of Australia, rather than the subject matter.
Section 51 (xii): is a subsection of Section 51 of the Constitution of Australia, that gives the Commonwealth Parliament the right to legislate with respect to “currency, coinage, and legal tender.”
The Australian Notes Act 1910 was an Act of the Parliament of Australia which allowed for the creation of Australia's first national banknotes. In conjunction with the Coinage Act 1909 it created the Australian pound as a separate national currency from the pound sterling.
Fairfax v Commissioner of Taxation is a High Court of Australia case that considered the scope of the taxation power in section 51(ii) of the Constitution.
Victoria v Commonwealth, is a High Court of Australia case that affirmed the Commonwealth government's ability to impose a scheme of uniform income tax, adding to Australia's vertical fiscal imbalance in the spending requirements and taxing abilities of the various levels of government.
Pape v Commissioner of Taxation is an Australian court case concerning the constitutional validity of the Tax Bonus for Working Australians Act 2009 (Cth) which seeks to give one-off payments of up to $900 to Australian taxpayers. The decision of the High Court of Australia was announced on 3 April 2009, with reasons to follow later.
Section 3 of the Constitution of Australia deals with the salary of Governor General. The salary of Governor-General is paid from the Consolidated Revenue Fund and is regulated by the Constitution, which fixed the initial salary at £10,000, an amount that would not increase until 1974.
Banknotes of the Australian pound were first issued by numerous private banks in Australia, starting with the Bank of New South Wales in 1817. Acceptance of private bank notes was not made compulsory by legal tender laws but they were widely used and accepted. The Queensland government issued treasury notes (1866–1869) and banknotes (1893–1910), which were legal tender in Queensland. The New South Wales government issued a limited series of Treasury Notes in 1893.
The Land Tax Act 1910(Cth) and the related Land Tax Assessment Act 1910(Cth) were Acts of the Parliament of Australia which imposed a progressive land tax on the unimproved value of land. They were enacted in November 1910 by the Fisher Labour Government intent on breaking up a number of very large holdings of underutilised, arable land that was secured during the colonial period.
The history of Australian currency commences with the first European settlement of Australia on 26 January 1788. At the time, New South Wales was a British colony, and the English currency was in formal circulation, though the supply was insufficient and alternative forms of exchange were resorted to. A national Australian currency was created in 1910, as the Australian Pound, which in 1966 was decimalised as the Australian Dollar.
