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  Linked activity: Is this business?  

Tax Tax is the money paid by individuals and businesses to government. Taxes are used to pay for public goods and services needed by the community, such as health, education and infrastructure such as roads; to provide income support to disadvantaged Australians; and to influence consumption and production. Everyone pays tax. We pay tax when we buy something, pay a bill or earn an income. Each level of government spends the money they have…

Part 1: How much tax should I pay? Complete table to calculate how much income tax each person should pay. Table 1: Calculating total amount of income tax Individual Annual salary Tax on the amount in the 0 – 18,200        bracket Tax rate is 0 cents Tax on the amount in the 18,201 – 45,000  bracket Tax rate is 19 cents Tax on the amount in the 45,001 – 120,000 bracket Tax rate is 32.5…

Maddie, Anwar and Tom all went to the same country high school, but now they live in the city and share a house.   Maddie is a student and works waiting tables at a local Italian restaurant a few nights each week. Her before tax (gross) income is $362.   Anwar is an apprentice electrician. His gross pay is $848 each week.   Tom is a couple of years older and he graduated from uni last year and is now working as a teacher.…

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 Go to…

The ATO has an online services simulator for educational purposes. This includes a scenario to complete a TFN declaration form. Go to the ATO online services simulator and follow these instructions. Scenario Select the following options on the homepage and click Start. This is a replica of the home page of ATO’s online services. Before you complete a TFN declaration, browse the information you can get from this page. At the top of the screen…

  Linked activity: Starting a job

ATO online services simulator