Search

  Linked activity: Managing your spending Starting a job

Step 1: Determine your financial position Your weekly income Your weekly expenses Remaining (if you spend more than you earn, use a negative sign) What financial position are you in? Do you currently: Spend less than you earn? That’s great news, but with some planning and discipline, you can improve. Spend what you earn? You’re living within your means, which is good…

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…

Part 1: Making predictions, using data and calculating results Before a government sets about making changes to the taxes they put on goods, lots of predictions are made, and research conducted. Predict the number of students in your class that you think would support a tax on sugar-sweetened beverages in Australia. Use a calculator to convert this number into a percentage. The tax implemented in Berkeley was about 12 cents a can (that’s…

  Linked activity: Your responsibilities in relation to income tax

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…

Drag the picture of the good or service into the correct space.

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…