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Part 1: Calculating and interpreting absolute, relative and percentage errors Refer to the data table in The Budget and forecasting data sheet. If possible, use spreadsheets to assist you with the following calculations. For both the Government revenue and spending calculate the: Absolute error Relative error Percentage error For both the Government revenue and spending determine: If the estimate was an overestimate or an…

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What happens when you have super in more than one fund? What happens if you don’t track your super?Part 1: Consolidating your superScenario: EvaEva began her first full-time job one year ago. Her annual salary is $70,000 and her employer contributes $127 a week to super. Before then she worked as a casual waitress and part-time singer. Eva had not thought about super until her friend explained to her that the fees you pay multiply by the number…

Avoid the myths – more info on ato.gov.auExternal linkOpen in a new window Linked activities:Is this business?Sham contracting

Watch: The Australian Taxation SystemWhat are the 3 levels of Australia’s taxation system?AustralianStateTerritoryHow many different taxes are there?125How many common taxes are there?10How many of these will most people pay?A fewHow is tax revenue collected?Focus questionsAustralian GovernmentState & territory governmentsLocal governments% of total tax revenue80%16%4%Number of taxes100251Major source of tax revenue or examples of…

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 The Australian Taxation System - Solutions Watch: The Australian Taxation SystemWhat are the 3 levels of Australia’s taxation system?AustralianStateTerritoryHow many different taxes are there?125How many common taxes are there?10How many of these will most people pay?A fewHow is tax revenue collected?Focus questionsAustralian GovernmentState & territory governmentsLocal governments% of total tax revenue80%16%4%Number of taxes100251Major…

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