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TFN application (simulated online application)    

  Linked activity: Starting a job

Part 1: Apply for a TFN Apply for a TFN using the simulated TFN online application. In pairs, investigate what next steps you will need to take, including documents that you will need to prove your identity. Go to: How to get a tax file number Identity documents   Develop a flowchart informing young people on the steps they need to take to apply for a TFN.   Part 2: Complete a TFN declaration…

Being honest is not always easy but the risks of being dishonest can have serious consequences. These range from losing a friend todamaging your reputation and your ability to get a job or losing freedom by having to go to prison. These outcomes affect social wellbeing, income and lifestyle, and family.  We need to think about the consequences of dishonesty - what happens to us if we are dishonest and get caught and how does it affect others?…

  Linked activity: Role of businesses in Australia’s taxation system

What does the income tax systems calculator do? Designing an income tax system This calculator allows you to adjust the number of tax brackets for individual income tax (from 1-5 tax brackets) and set the tax rate for each tax bracket. Figure 1 shows Australia’s income tax system which has 5 tax brackets.  Calculating government revenue from individuals income tax Once you have decided how many brackets and the tax rate at each bracket, the…

Part 1: Calculating taxUse the ATOs weekly tax table or the ATO app Tax withheld calculator to work out how much tax should have been withheld in the following scenarios.Income detailsAlexBinSuzieGross income for the week$321$1,292$851Tax withheldNet weekly incomeSuzie works for 25 hours a week during the school holidays. She earns $651 a week for 10 weeks of the year. The other weeks of the year, she earns $220 per week (for 42 weeks).How much…

What does the income tax systems calculator do?Designing an income tax systemThis calculator allows you to adjust the number of tax brackets for individual income tax (from 1-5 tax brackets) and set the tax rate for each tax bracket. Figure 1 shows Australia’s income tax system which has 5 tax brackets. Calculating government revenue from individuals income taxOnce you have decided how many brackets and the tax rate at each bracket, the…