During World War I, many taxpayers felt that it was their patriotic duty to pay more than their assessed tax. Some were not legally obliged to pay tax but did so and others made payments of double, treble or quadruple the assessed amounts.
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
A free service sponsored and administered by the ATO where trained and accredited volunteers from the community assist low-income taxpayers to complete their tax return.read more glossary terms