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1 Introductory concepts 2  Market mechanism  3 Elasticities  4 Market structures 5  Market failures  6  Macro economic activity/eco growth  7 Inflation 8  Employment & unemployment  9  External Stability  10  Income distribution 11.Factors affecting economy  12  Fiscal/Budgetary policy  13  Monetary Policy   14 Aggregate Supply Policies  15 The Policy Mix

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The Composition of Receipts (revenue)

the federal government collects approximately $474B (2018-19), with the vast majority of receipts coming in the form of taxation (93% or $440B). The three major sources of taxation revenue are individuals income tax ($218B), company tax ($89B) and sales taxes (primarily the GST) of approximately $68B. In addition, excise on fuel, tobacco and alcohol amount to a total of $38B. Non-taxation receipts/revenue includes dividends from the RBA, earnings from the Future Fund as well as the sale of goods and services.

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Should we tax the rich more?