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For this activity, refer to the Income tax systems calculator.Part 1: Compare different income tax systemsBelow is a list of individuals and their taxable income per annum:Alim – $25,000Katz – $80,000Ngo – $150,000Ayesha – $300,000Type the income and tax rates in the digital interactive to investigate the total tax payable by each of these individuals and the total amount of government revenue in each of the variations of the individual taxation…

How to explain supply-side policies with the example of tax reform. The increase in Australia’s productive capacity shifts the whole aggregate supply line out and to the right of the original line (the move from AS1 to AS2). Supply-side measures will boost the sustainable level of national production (the shift from GDP1 to GDP2) that can be achieved causing the price level to fall (the shift from P1 to P2). This offers enormous potential for…

Print one copy for the class and cut into individual cards to distribute to 6 groups. Individual 1 Single with no dependents University graduate Gross income is $100,000 per year Rents Good health Lives for the moment -loves to spend and travel Individual 2 Single with no dependents Newstart recipient Type 1D Diabetic No post-school education or training Rents Couple 1 Self-…

In this activity, your group will represent one key organisation in Australia to make recommendations on improving the retirement outcomes of Australians. The Australian Government has announced that it plans to reform the Australian superannuation system to improve the living standards of Australians in retirement. The government has invited key stakeholders to submit their views on how this might be achieved. You have been given one of the…

  Linked activity: Earning an income (AC v9.0) Earning an income (AC v8.4)

  Linked activity: Bank statements as a financial tool

Part 1: Locating government services in the local area Use a map of your local area to locate different types of services provided by the government. For each service you locate, identify the: type of service level of government responsible for providing the service location of the service. Record your findings in table 1 (an example is provided for you). Table 1: Government services in the local area Type of service…

Part 1: Interpreting bank statements Bank statement - Sample Account details Codes Name: J. Citizen Bank code: 85-92-00 Date: 30 June 2021 Account number: 011 657 8904 DD = Direct debit (money automatically withdrawn from your account) DC = Debit card (purchases using your card) CR = Credit (deposits) ATM = Cash withdrawal Transactions Date Code…