Managing your tax and super online

SubjectNSW Commerce YearStage 5 Curriculum Time45

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Introduction

This activity introduces students to myGov, a simple and secure platform to access government services online, including the Australian Taxation Office (ATO). Setting up a myGov account and linking to the ATO enables students to meet their tax obligations and manage their superannuation, now and in the future. If appropriate, and with parent permission, students are invited to set up a myGov account at home.

Australian Curriculum or Syllabus

This activity contributes to the following outcomes.

A student:

  • applies consumer, financial, economic, business, legal, political and employment concepts and terminology in a variety of contexts COM5-1
  • works independently and collaboratively to meet individual and collective goals within specified timeframes COM5-9

Related Stage 4 outcomes: COM4-1, COM4-9

Related Life Skills outcomes: COMLS-7, COMLS-13

Content descriptions

Core 1: Consumer and Financial Decisions

Current issues

Students:

  • investigate a current issue that influences the decisions consumers make, for example:
    • management of personal superannuation, for example tracking and consolidating lost superannuation accounts.

Option 7: Towards Independence

Managing finances

Students:

  • explain the responsible management of finances when living independently, including: (ACHEK018)
    • strategies to minimise financial problems, for example budgeting, saving, monitoring spending, superannuation
    • tax obligations, for example applying for a tax file number, completing a tax return.

Student learning resources

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Explainer

What is myGov?

 
Worksheet

myGov and ATO online services

 
Video

Managing tax and super online with ATO Online services

 
How to

Creating a myGov account

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. The activity was written for students in Stage 5, however it can be modified to suit the needs of Stage 4 students and Life skills students. 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'.

  1. As a class, read explainer.
  2. Students complete the worksheet. As part of the activity, students will go to the ATO website and search 'Create a myGov account and link it to the ATO', view Managing your tax and super online and answer simple comprehension questions.
  3. Discuss with the class:
    • The advantages of being able to access government services online.
    • Why it is important not to share their myGov sign in details

Optional

Give students a copy of Creating a myGov account – How-to-sheet. With parent permission, students set up a myGov account at home.