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What if?
Now that you have explored the relationship between a country’s taxation system and living standards, consider the following ‘what if’ scenario:
The Australian Government significantly cuts spending to pay down debt.
Draw a consequence wheel on a large piece of paper.
Identify one area of current government services that would be affected, for example, education, health or social security and welfare.
Consider the possible effects on…
InstructionsNSW CommerceStage 5Simons test page
Expenses by function 2019-2022
2019-20
2021-22
$m
$m
Defence
33,187
38,246
Education
39,885
43,225
Health
87,023
106,185
Social security and welfare
196,119
221,427
Social security and welfare expenses 2019-2022
2019-20
2021-22
$m
$m
Assistance to the aged
71,855
76,283…
WorksheetNSW CommerceStage 5Modelling subsidies
Linked activity:
Government intervention to address externalities
VisualiserEconomicsSenior secondaryThe Australian Taxation System
This video explains how the Australian Taxation System works. Video viewing guide:The Australian Taxation system - Video viewing guide Linked activities:The Australian taxation system (AC v9.0)The Australian taxation system (AC v8.4)The Australian taxation system (Senior Secondary)
VideoGeneral resourcesAdvice on achieving long-term financial goals
You are a qualified financial advisor for a reputable financial planning company. Work in pairs to provide advice to 2 hypothetical clients regarding which super investment options they should choose to reach their retirement goals.
Objective
You have 2 clients in unique situations, each seeking superannuation advice.
Each partner chooses a different client to develop advice for.
Your task is to analyse your client’s circumstances and…
InvestigationNSW CommerceStage 5Gluttons for punishment
Linked activity:
Influences on consumer and business behaviour
VisualiserEconomicsSenior secondary