Section 4 Flashcards
1
Q
what are the types of taxes
A
propertional taxes
progressive taxes
regressive taxes
2
Q
what is proportional tax
A
the same percentage is levied, regardless of the level of income. company tax is proportional tax
3
Q
what is a progressive tax
A
the higher the income the higher the percentage of tax paid. Income tax for individuals is a progressive tax.
4
Q
what is a regressive tax
A
the same dollar amount of tax paid regardless of the level of income
5
Q
local government expenditure
A
- waste management
- roads and bridges
- aged and disability services
- street and traffic management
- community and family services
6
Q
state government expenditure
A
- health
- education
- environment
- water electricity
- court systems
7
Q
federal government expenditure
A
- defence
- immigration
- trade
- transport
- currency
8
Q
how does the local government earn tax
A
- property rates
- building permits
- fines
9
Q
how does the state government earn tax
A
- payroll tax
- stamp duty
- taxes on gambling
10
Q
how does the federal government earn tax
A
- GST
- Medicare levy
- capita gains tax (CGT)
