CAANZ – Illuminate program
Interested in giving your students a challenge? Then consider registering for
Confirmed regions where illuminate will be taking place below:
- Adelaide 27-31 May
- Perth 10-14 June
- Canberra 29 July – 2 August
- Melbourne 29 July – 2 August
- Port Macquarie 2-6 September
- Sydney 18-22 November
- Wollongong 2-6 December
It’s tax time! It pays to learn what work-related expenses you can claim
Lodging your tax return is easy when you have everything ready that you will need.
When completing your tax return, you may be able to claim deductions for some work-related expenses.
To claim a work-related deduction:
• you must have spent the money yourself and weren’t reimbursed
• it must be directly related to earning your income
• you must have a record to prove it.
If the expense was for both work and private purposes, you can only claim a deduction for the work-related portion. Deductions for Teachers may include:
• travel expenses
• clothing expenses
• self-education expenses
• home office expenses
• phone expenses
• tools and equipment
• other expenses.
You are accountable for the claims you make in your tax return, even if you use a registered tax agent to prepare and lodge it on your behalf. There’s no such thing as a standard deduction – this is a myth. There’s no ‘safe’ level to claim a deduction where you haven’t spent the money or it’s not related to earning your income. Make sure you have records to prove your claims.
The best time to lodge your tax return is mid-August, when all financial information the ATO receives from employers, banks, government agencies and more, will be pre-filled. You must also remember to declare all income when lodging your tax return.
For more information or to download the Teachers work-related expense guide go to www.ato.gov.au/teacher
New resource form the Reserve Bank of Australia
To complement its suite of economics education resources, the Reserve Bank of Australia has just released a new digital interactive tool. The Inflation Explorer lets the user explore how prices of individual goods and services, and overall inflation, have changed over time. The tool is most suitable for Years 10 to 12 and helps students understand key concepts relating to inflation. It can be used as a stimulus to explore curriculum areas such as:
- how inflation is measured
- headline versus underlying inflation
- trends over time
- causes of inflation.
While the Inflation Explorer has been designed for students, it is suitable for anyone who is curious about the consumer price index (CPI) and what prices have changed in the nation’s shopping basket over time.
New Resources from Parliamentary Education Office
The Parliamentary Education Office (PEO) offers a free dynamic and immersive video conference program which brings Parliament into your classroom, letting students talk and discover how Parliament works.
Our Australian Curriculum linked program caters for students from years 5 to 12.
Download the video conferencing brochure here.
Download the video conferencing booking form here.
For more information, head to the PEO website or call Lara Ghaly on 02 6277 3148.
Plan Your Own Enterprise Competition 2019
Entries for this year’s competition are now open.
Click here for details and to download the brochure/entry form.
BEA Award of Recognition for Outstanding service
Business Educators Australasia (BEA) was pleased to award
- Bronwyn Hession
- Doug Cave
the BEA Award of Recognition for Outstanding service to BEA and/or signficant contributions to one or more of the BEA represented learning areas.
Congratulations to Bronwyn Hession and Doug Cave for their significant contributions to Business Education and their state associations.
Plan Your Own Enterprise Competition 2018
2018 National Division One
Student – Julian Annison
School – Inaburra School – New South Wales
Plan – AspergerAssist
2018 National Division Two
School – Camberwell Girls Grammar School – Victoria
Plan – Weasley’s Wash ‘n’ Walk
Reserve Bank of Australia research shows that decline in enrolments for Economics in schools and universities ……
A worrying trend for this country!
Over the weekend Jacqui Dwyer spoke at the Business Educators Australasia Annual Meeting. Jacqui shared some of the research that we have done on the study of economics at both the high school and university level in Australia, and discussed the broader implications of the findings. In addition, Jacqui provided an update on what the Bank is doing in support of economics education. The full speech can be found here.
SBS TV Program – “Small Business Secrets”
Small Business Secrets is a weekly SBS program shining a light on the small business owners and innovators playing a vital role in Australia’s economic growth. Small to medium enterprises (SMEs) make up 97% of Australian businesses, making them the backbone of the Australian economy. The program uses case studies to offer tips and insights into the roller-coaster of conceiving and running a small business.
Resource for your Business Studies or Commerce class? TV viewing homework for your students?
Episodes available online – click here to access them.
“Small Business Secrets” classroom resource maps stories from the TV series to the Australian Economics and Business curriculum.
The “Small Business Secrets Teacher Notes” are structured around ten short clips from the Small Business Secrets television series. The Key Learning Area (KLA) covered by this resource is Economics and Business for Years 7 – 10 as set out in the Australian Curriculum. This resource also contains case studies and related activities for Years 11 and 12 that can be adapted to suit the various subjects offered to senior students in different states and territories.
Click here to access the teacher notes.
New Resource available – What is Economics?
Reserve Bank of Australia has produced a short video explaining What is Economics? This would be an excellent resource for students new to the subject or wanting more information for subject selection. It is available at the RBA website
Reserve Bank of Australia releases speech outlining the declining numbers of enrolments in Economics
To access the Reserve Bank of Australia’s speech, please click here.
Please find following the response from Business Educators Australasia, President Tony Kuc to the Reserve Bank speech made at our council meeting on Saturday 29 July, 2017.
Please click here.
Development of consumer and financial educational resources for teachers
The Australian Consumer Law (ACL) regulators understand the importance of developing confident young people who are aware of their consumer and financial rights. Early teaching of consumer and financial literacy develops a strong foundation for young people to go forward and engage in the real world of business and finance.
With the revision of the national curriculum, the ACL regulators saw an opportunity to work together to develop a suite of national educational resources. The resources developed are relevant and appropriate for teaching consumer and financial literacy in economics and business learning areas in Australian schools.
The resources include five ACL resources that were mapped against the curriculum for Years 5-10, which will help teachers identify how they are able to incorporate a selected number of consumer and financial literacy materials into their curriculum programs. The resources have been mapped by an experienced curriculum developer.
For each year level there are two available resources. They are the:
- ‘Teaching about consumer affairs’ guide: This identifies the alignment between the selected consumer literacy materials to the Content Descriptions and the General Capabilities of the Australian Curriculum and the National Consumer and Financial Literacy Framework.
- Australian curriculum mapping by content descriptors and achievement standards document: This maps the selected consumer literacy materials (by Unit) to the Australian Curriculum Content Descriptions, Achievement Standards, General Capabilities and the National Consumer and Financial Literacy Framework.
The resources for Years 5-10 are available on the Australian Consumer Law website.
Electoral Education Professional Learning
The AEC’s online Professional Learning module steps you through how to use the election process as a tool to make decisions in your classroom.
Through this activity your students will get hands on election experience and be empowered to use decision making to shape their world.
The course is free , takes about 60 minutes and aims to equip teachers with the skills and knowledge to conduct an election in your classroom.
Why not go online in your own time and space and improve your teaching skills with this free Professional Learning opportunity?
For more information click here.
The Reserve Bank of Australia
The Reserve Bank of Australia offers a school incursion program whereby staff visit schools to address topics such as the Roles and Functions of the Bank and Monetary Policy and the Australian Economy. While these are mainly in metropolitan areas the bank would encourage regional schools to register their interest. Go to www.rba.gov.au/education/educational-talks/school-incursions.html
National Consumer and Financial Literacy Framework
The new National Consumer and Financial Literacy Framework was approved by the Australian Education, Early Childhood Development and Youth Affairs Senior Officials Committee (AEEYSOC). This document is a revised version of the National Consumer and Financial Literacy Framework (the Framework) originally developed in 2005. It articulates a rationale for consumer and financial education in Australian schools; describes essential consumer and financial capabilities that will support lifelong learning; and provides guidance on how consumer and financial education may be structured to support a progression of learning from Foundation Year 10. Companion resources to this Framework, being developed by the Australian Securities and Investments Commission (ASIC), provide further guidance about integrating consumer and financial education into specific learning areas of the Australian Curriculum. These companion resources are available at: http://www.financialliteracy.gov.au/.
The importance of economic literacy
With a sound knowledge of economic concepts [students] can better understand and evaluate the nature and impact of policies at all levels of government. [They] can explain the multiplier effect of increased government spending, and how it raises Australia’s level of income, output and employment.
Economics students know
- that the national debt does not necessarily impose a burden on future generations of Australians
- that an economy is not run like a household the reasoning at the time of the Great Depression
- about the role of the Reserve Bank in determining monetary policy, the concept of overnight cash rates and the policy implications of rising interest rates
- how banks can actually create credit and money through their lending policies.
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