The Australian income tax system is considered to be one of the most complex income tax systems in the world. Australian taxation law is a vast and complex area of law that is continually evolving. Tax affects everyone. Individuals and entities earning income from personal exertion, business or property, pay tax. Tax is also paid by all persons buying goods or services. The aim of the unit is to provide a concise introduction to the fundamental concepts and rules underlying the Australian taxation system. The main emphasis of the unit is on current tax principles and Commonwealth legislation applicable to determine the income tax liability of individuals (including minors), partnerships, companies and trusts. The unit also includes an introduction to Fringe Benefits Tax and to Goods and Services Tax.