Cash Course 7: Taxation

Cash Courses are a series of short units designed to introduce students to essential financial literacy topics. It’s the basics of stuff they need to know to be able to develop good money habits and make informed financial decisions. The workbooks are interactive pdf’s, so can be completed on a computer. Activities are designed to be self directing, with individual tasks and some group or class discussions if you choose to lead the topic this way. Students completing this Cash Course will learn about what interest is, earning interest on savings, and the cost of interest when borrowing money. Students completing this Cash Course will learn what tax is and why we have taxes. They will be introduced to the main forms of taxation in two modules. First is income tax (PAYE) and GST, followed by RWT and excise tax.

9-12

4-8 hrs

Mathematics and Statistics

$20

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Student learning

· Learn what taxation is and why we have taxes.

· Learn about four different types of tax:

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1. Income tax

2. Goods and Services Tax (GST)

3. Resident Withholding Tax

4. Excise Tax

• What you need to do, and what might happen if you don’t pay your taxes

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Curriculum link

Personal Financial Management is a fundamental part of a young person’s education. The Cash Course series is designed to support the development of the key competencies. The series also has links to the Social Sciences and Mathematics and Statistics learning areas.