In 1917, during World War I, the price of admission into a place of entertainment was taxed. Auditors attended race meetings, theatre and picture shows to ensure the tax was being paid. This tax was also imposed from 1942 to 1953.
Watch your super grow asks students to make decisions about how to spend available income at various stages of life. Choices include expenditure on cars, technology, travel, entertainment and superannuation. Choices made over a 40-year period have an impact on the quality of life in retirement. The aim is to increase students' understanding of critical factors that influence the accumulation of super and of the impact of decisions made early in life on long-term lifestyle.
Note: Watch your super grow should not be used as the basis for making financial decisions; it is intended as a prompt for discussion about the importance of financial planning and super as a long term investment.Watch your super grow - PDF version
An expense incurred in the course of earning income that can be used to reduce assessable income. Allowable deductions are sometimes simply referred to as deductions.read more glossary terms