GEC College News

Business Management

Principal For the Day

It was a great opportunity for our Year 12 Business Management students to meet with Jason Kimberly who was the Principal for a day on Tuesday 3rd September. He came to the Year 12 Business Management class and shared his views about three pillars of sustainability – economic, social and environmental, in Cool Australia. These three pillars are also known as Triple bottom line of a business.

 

Corporate social responsibility (CSR) is taught at both Year 11 and 12 and is an important part of Business Management studies. Corporate social responsibility is the continuous commitment as well as obligations a business has over and above its legal responsibilities to operate in an economically, socially and environmentally sustainable manner whilst balancing the wellbeing of diverse stakeholders for now and in the future.

 

This session was highly beneficial for Year 12 BM students and it was just before their next SAC in the same week. Students were able to link the CSR content with a real life business such as Cool Australia and learnt much more from the CEO of Cool Australia.

 

Parminder Kaur

Year 12 Business Management Teacher

 

 

Student reflection:

On Tuesday 3rd September, Jason Kimberley, our principal for a day and the CEO of Cool Australia, came in to present to us briefly on corporate social responsibility. It was great to get some insight on ethical business practices from someone with experience. This topic is very crucial to the Business Management course, so getting another view on the issue allowed us to expand our own understandings. Mr Kimberley was very enjoyable to talk to and meet. Thank you to Ms Kaur for organising this opportunity.

 

Sean Kelly

Year 12

Australian Tax Office (ATO) Incursion

On Friday 6th September 2019, Year 10 World of Business students had an excellent opportunity by having an incursion hosted by Australian Tax Office.

 

This incursion is an important part of the School Education Program to help students understand the importance of Tax and Superannuation and to become informed citizens. The purpose of this program is to provide students with a chance to extend their knowledge about Tax, TFN, Superannuation and SCAMS in Australia.This incursion is related to the core unit of Consumer and Financial Literacy at Year 10.

 

Following were the topics that were discussed during this presentation:

  • Role of ATO in Australia
  • Information about Tax and Superannuation
  • Why we need a tax file number (TFN) – How to get one
  • Understanding pay slips - PAYG, Tax and super calculations
  • HECS/HELP scheme, when preparing to enter the workforce or study
  • Understanding tax brackets and how to lodge tax returns
  • Taxable deductions - what can or can’t be claimed when lodging tax return
  • Cash economy in the country
  • How to spot if there is a SCAM under the name of ATO, what strategies can be used to avoid such scams
  • An overview of the main roles of the ATO in the Australian economy.

 

It was a very informative presentation through PowerPoints and videos to engage students. It was very nice to see that all our students were fully engaged and were asking the presenter many questions about how they can prepare themselves for future jobs as well as if wish to work in ATO in their future careers.

 

All students who attended this event found the incursion to be an invaluable learning activity.

 

Parminder Kaur

Business Management and Mathematics Teacher

 

 

Student reflections:

The incursion was both interesting and useful to myself. We learnt more on the concept of paying taxes, the consequences of collected tax on Australian society and the use of Tax File Numbers, which are extremely important while being employed. Furthermore, I learnt new information on Superannuation such as its significance (especially after we retire) and how to make sure your employer is keeping track of your Superannuation. To wrap the incursion up, we were given techniques on identifying different types of scams, where to report them and why scams make your information vulnerable to unauthorised people.

Akash Prabhakaran

Year 10

 

 

A speaker who came from the Australian Tax Office taught us the importance of a TFN (Tax File Number). We learnt that if we don’t apply and receive a TFN, we could get taxed more. Also a TFN is a unique number created for every Australian citizen who is a part of the workforce. No one else can have the same number. To apply for a TFN you need to fill out a form that you can find online, hand it in at a receiving Australian Post, and if achieved you will receive your number within 2 weeks. It was very interesting to learn about applying for a TFN if any student is looking for a part-time job.

 

Georgia Wood-Freeman

Year 10