The Budget: taxes and spending

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The annual Budget shows how tax revenue is collected and how it will be spent. Explore issues concerning the Budget. Investigate how pressures on the Budget can impact on the type and amount of taxes that are levied.

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  • Fact 10

    In 1936, at the request of the Australian Wool Growers Council, a wool tax was imposed to help the production of wool and to extend the use of wool throughout the world. It was levied at 6d (about 5c) per bale on all sales of shorn wool produced in Australia.

Age pension

A social security payment made by the Australian Government to Australian citizens who are over the qualifying age and meet the means tests.

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