Students create a survey where they ask people in their family about the different incomes and expenditures.

Identify and classify different sources of income:

-          Students survey people in their lives to assess the different sources of income.

o   Hopefully different responses from the class will include

§  Wages

§  Salary

§  Interest

§  Rental income

§  Selling assets

§  Child Benefit

§  Dividends

§  Social Welfare

-          Students are asked to identify which are

o   regular incomes, 

o   which are one off,

o   which change from month to month and

o   which stay the same

 

-          Questions can include:

o   What are the different ways you earn money?

o   Have you any sources of income other than a job?

o   Do the government help provide income for our house?

o   Have you ever earned money selling items you own?

o   What is the most important source of income in the household?

-          Whole class puts answers into an Income Wordle

 

-          After identifying these incomes students are asked to survey people in their lives list different household expenses

o   Hopefully responses will include a variety of different expenses

§  Bills

§  Rent

§  Mortgage/loans

§  Discretionary expenditure

o   As part of the survey students can ask respondents to identify

§  Which expenses are needs and wants

§  Fixed expenditure

§  Irregular expenditure

§  Discretionary Expenditure

-          Whole class puts answers into an Expenditure Wordle

Students can see and compare the different sources of incomes and expenditure from the wordle.

3.5 Examine the purpose of taxation from a financial, social, legal and ethical perspective 

 Students create a Google Form to ask fellow students in class their understanding of and need for taxation. Then understandings are shared, and discussion takes place around why tax is necessary - economic, societal and morally. Progressive and regressive tax. Challenging assumptions identified from Google Form and link with the school's ethos around social justice and redistribution of wealth. Students asked to identify why taxation is needed and outline the advantages and disadvantages to the structure of the taxation system and the impact on the economy. 

 

·         Outline the role of taxation in a modern economy

·         Understand their personal responsibilities in relation to taxation

·         Describe the major household and personal taxes in Ireland

·         Understand the impact of taxation on households and individuals

·         Calculate the tax liability for a household or individual

Lesson

Worksheet provided to students with key questions that need to be answered and given access to the computer room for one class.

A list of key household taxes included in the worksheet, students to pick one from the list and research it on the computer, looking up the revenue website and citizens information website.  

Each student will be asked to fill in the answers to the questions, they could be asked to report back to the class (if you had a double class this might be possible).  

 Worksheet

 

PAYE

USC

VAT

LPT

CGT

CAT

DIRT

Income Tax (self assessment)

Customs Duty

Excise Duty

Motor Tax

Carbon Tax

Sugar Tax

Stamp Duty

1.       Describe this tax, its name and acronym.

2.       Who pays it?

3.       How is it collected?

4.       What is the current rate in Ireland?

5.       Who gets the money and what is it used for?

6.       Your opinion – should you pay it, is it a fair tax?