Government of the United Kingdom and therefore he did not have to pay it – a claim the Greater London Authority disputed. Similarly, the monarch is totally immune from criminal prosecution and may only be sued with her permission (this is known as sovereign immunity). The monarch, by law, is not required to pay income tax, but Queen Elizabeth II has voluntarily paid it since 1993, and also pays local rates voluntarily. However, the monarchy also receives a substantial grant from the government, the Sovereign Support Grant, and Queen Elizabeth II's inheritance from her mother, Queen Elizabeth The Queen Mother, was exempt from inheritance tax.
Income tax in Australia on annual turnover. Generally, capital gains are only subject to tax at the time the gain is realised and are reduced by 50% if the capital asset sold was held for more than 1 year. In Australia the financial year runs from 1 July to 30 June of the following year. The first income tax in Australia was imposed in 1902 by Queensland. Federal income tax was first introduced in 1915, as a wartime measure to help fund Australia’s war effort in the First World War. Between 1915 and 1942, income taxes were levied by both State governments and the