Topic 13: Income Tax

By the time your kids reach adulthood they should know:

  • How much they can earn in Australia before they need to pay tax
  • What ‘Tax Brackets’ refer to
  • What the highest Tax Bracket rate is in Australia
  • At what income level this rate starts to apply
  • What a tax deduction is
  • Why some expenses might be tax deductible to a wage earner
  • What the Medicare levy is
  • How the Medicare Levy is calculated
  • What the current base Medicare levy rate is
  • What the Lifetime Health Cover Loading is
  • At what age Lifetime Health Cover Loading applies
  • What GST stands for
  • Who pays GST
  • Whether wages include GST or not
  • What the Family Tax benefit is
  • Who qualifies for the Family Tax benefit
  • What is the First Homeowners’ Grant
  • Who can get the First Homeowners Grant

How to use your Superannuation Account to save a house deposit faster

Lower Primary School Years:


Upper Primary School Years:


Lower High School Years:


Upper High School Years:


1 300 918 450

[email protected]

If you have questions, contact us now.
© 2022 Spending Planners Institute Pty Ltd