TAXATION
This type of tax system ensures higher earners pay a larger share of tax.
What is progressive taxation?
This institution sets Australia's interest rates.
What is the Reserve Bank of Australia?
This economic concept is defined as producing more with fewer inputs.
What is productivity?
This is the current minimum percentage of your salary your employer must contribute to super.
What is 11.5%?
This legal document specifies who receives your assets after you die.
What is a will?
This is one of the three main goals of taxation, alongside “stimulate” and “incentivise.”
What is redistribute?
Government decisions on taxation and spending are part of this policy.
What is fiscal policy?
This term refers to the next best alternative given up when making a choice.
What is opportunity cost?
Diversifying investments in your super fund helps reduce this.
What is risk?
This tool allows someone to manage your financial affairs if you become incapacitated.
What is a power of attorney?
This visual tool shows how income is distributed across a population.
What is the Lorenz Curve?
Raising interest rates can help with this economic issue.
What is inflation?
In this type of business structure, decisions and authority are concentrated at the top levels of management.
What is a hierarchical (vertical) organisational structure?
This type of fund includes 80–100% shares or property.
What is a high growth fund?
Superannuation is not automatically part of your estate unless you have this.
What is a binding nomination?
This is the name of the economic theory that argues cutting taxes can sometimes increase total tax revenue.
What is the Laffer Curve?
This policy aims to regulate the economy by managing the money supply and interest rates.
What is monetary policy?
This type of business structure has fewer management layers, allowing for faster decision-making and greater employee responsibility.
What is a flat (horizontal) organisational structure?
This investment strategy suits someone about to retire.
What is a conservative fund?
This structure can protect family assets and control how wealth is distributed over time.
What is a family trust?
This line on the Lorenz Curve graph represents perfect income equality.
What is the line of equality?
COVID-19 stimulus spending is an example of this kind of fiscal approach.
What is expansionary fiscal policy?
An outward shift of the PPF curve suggests this (2 possible answers)
What is increased production capacity or economic growth?
The benefit of early super contributions relates to this financial concept.
What is compound interest?
This type of tax applies only when inherited property or shares are sold.
What is capital gains tax (CGT)?