What happens after I lodge my tax return?
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Introduction
In this activity, students learn what happens after they have lodged their tax return, such as how long it will take to process, what happens if they owe tax and for how long they need to keep their tax records.
Achievement standard
By the end of Year 8, students explain how markets influence the allocation of resources to the production of goods and services. They explain ways that businesses adapt to opportunities in markets and respond to the work environment. They describe the importance of Australia’s taxation system and its effect on decision-making by individuals and businesses. Students explain why individuals and/or businesses budget and plan.
Students develop a range of questions to investigate an economic and business issue. They locate, select and organise relevant information and data. They interpret information and data to identify economic and business issues and trends, and describe economic cause-and-effect relationships. They develop a response to an economic and business issue. They identify and evaluate potential costs and benefits. Students use economic and business knowledge, concepts, terms and research findings to create descriptions and explanations.
Content descriptions
Economics and Business Knowledge and Understanding
The importance of Australia’s system of taxation and how this system affects decision-making by individuals and businesses. (AC9HE8K04)
Economics and Business Skills
Interpret information and data to identify economic and business issues, trends and economic cause-and-effect relationships. (AC9HE8S03)
Develop a response to an economic and business issue, identifying potential costs and benefits. (AC9HE8S04)
Create descriptions and explanations, using economic and business knowledge, concepts and terms, and referencing information and data from sources. (AC9HE8S05)
Teacher resources
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What happens after I lodge my tax return?
What happens after you lodge a tax return?
Student learning resources
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What happens next?
Suggested activity sequence
This sequence is intended as a framework to be modified and adapted by teachers to suit the needs of a class group. If you assign this activity to a class, your students will be assigned all student resources on their 'My learning' page. You can also hand-pick the resources students are assigned by selecting individual resources when you add a work item to a class in 'My classes'.
- Play the What happens after you lodge your tax return? and if needed, display and explain the information on the visualiser.
- Students complete the worksheet.
- Students complete a 3-2-1:
- 3 things the student learned from the activity
- 2 things the student found interesting and what they’d like to learn more about.
- 1 question they still have.
- Discuss the questions students still have and give them time to explore answers.