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A major way that governments intervene in the market is through taxation. Taxation revenue In Australia, each of the 3 levels of government (federal, state and local) charges taxes (and fees, fines and charges). This enables governments to collect money from most people in the community and most businesses. This taxation revenue is used to finance the spending of governments. Consumers and businesses receive the benefit of being able to access…

Print one page for each 4 students in your class and cut into individual cards. Environment   Environment Environment Environment       Linked activity: Governments and opportunity cost  

‘There's no denying it: we're gluttons for punishment’ Ross Gittens, Sydney Morning Herald 10 June 2016 When our ever-helpful politicians whack up the tax on cigarettes, do they make smokers better or worse off? If many of us have taken advantage of the free market in food to become fat, has this improved our welfare? And if the growing take-up of pay TV leads us to spend more hours watching telly, is this a good thing or a bad thing? How…

In pairs read the article ‘There's no denying it: we're gluttons for punishment’ by Ross Gittens and answer the following questions. What does Ross Gittens claim is the problem with the economic concept of utility. What is myopia? How does myopia affect consumption decisions? You have a choice between watching TV or going to the movies. What are the short-term costs and benefits associated with each alternative? Which one will…

Conduct a short investigation of government policies and regulations that may impact consumer and business decisions. Select one example of each of the following government policies or regulations: taxation policies banning certain activities (such as collusion) providing subsidies to certain businesses tax rebates legislation (such as legislating for plain packaging on cigarettes). Research the meaning of the policy or regulation…

Refer to the Is that government? – Explainer and the ATO website to answer the questions in part 1. Part 1: The Australian Government Predict whether each of the following goods or services is taxed (using GST, excise tax, a tariff, some combination of these taxes) or are not taxed. Item Taxed, or not taxed Apples Taxed Not Taxed Petrol Taxed Not Taxed Access to a music streaming service (…

As you read this explainer, highlight the taxes and areas of expenditure you are unfamiliar with. Who collects tax? Australia has 3 levels of government. The 3 levels are: Australian (or federal or national) state/territory local councils (also called shires or municipalities). Taxes can only be collected if a law has been passed to permit their collection. Laws are made by parliaments and councils and each level of government administers (…

Table 1: Total taxation revenue of Australian government, 2017–18 ($m) Australian Government Revenue $m Taxes on income, profits and capital gains 312,474 Taxes on employers' payroll and labour force 1,107 Taxes on property 0 Taxes on provision of goods and services 106,492 Taxes on use of goods and…