Which individual income tax system works best?
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Introduction
In this activity, students use a digital interactive to explore the impact of different income tax systems on the income received and tax paid by people on different incomes and how these systems affect government revenue. They use the interactive to create an income tax system they think is fairest and justify their choice.
Achievement standard
By the end of Year 10, students explain why and how governments manage economic performance to improve living standards. They give explanations for variations in economic performance and standards of living within and between economies. They analyse factors that influence major consumer and financial decisions and explain the short- and long-term effects of these decisions. They explain how businesses respond to changing economic conditions and improve productivity. Students evaluate the effect of organisational and workforce management on business performance.
When researching, students develop questions and formulate hypotheses to frame an investigation of an economic or business issue or event. They gather and analyse reliable data and information from different sources to identify trends, explain relationships and make predictions. Students generate alternative responses to an issue, taking into account multiple perspectives. They use cost-benefit analysis and appropriate criteria to propose and justify a course of action. They apply economics and business knowledge, skills and concepts to familiar, unfamiliar and complex hypothetical problems. Students develop and present evidence-based conclusions and reasoned arguments incorporating different points of view. They use appropriate texts, subject-specific language, conventions and concepts. They analyse the intended and unintended effects of economic and business decisions and the potential consequences of alternative actions.
Content descriptions
Economics and Business Knowledge and Understanding
The ways that governments manage economic performance to improve living standards (ACHEK052).
Economics and Business Skills
Generate a range of viable options in response to an economic or business issue or event, use cost-benefit analysis and appropriate criteria to recommend and justify a course of action and predict the potential consequences of the proposed action (ACHES058).
Apply economics and business knowledge, skills and concepts in familiar, new and hypothetical situations (ACHES059).
Present reasoned arguments and evidence-based conclusions in a range of appropriate formats using economics and business conventions, language and concepts (ACHES060).
Teacher resources
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Income tax systems calculator
Income tax systems calculator
Student learning resources
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Which individual income tax system would work best?
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Suggested activity sequence
This sequence is intended as a framework to be modified and adapted by teachers to suit the needs of a class group.
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As a class read the instructions on the worksheet.
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Open the interactive on a white board or screen and demonstrate income system 2 to students. If necessary, refer to the instructions on how to use the income tax systems calculator.
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Students complete part 1 of the worksheet.
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Use a grouping strategy to organise students into pairs.
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Pairs complete part 2 of the worksheet.
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Students present their decisions and justifications to the class.