Improving the financial literacy of Australian students

Financial literacy is an essential life skill, and this includes understanding how Australia’s taxation and superannuation systems work. The Australian Taxation Office is providing young Australians with a strong educational foundation in these areas, enabling them to participate effectively in these systems.

This work was informed by a survey of Curtin University undergraduates, which found that 87% of participants had not received any structured learning on the purpose of taxation at secondary school. Participants rated their knowledge about taxation when they left secondary school as ‘very poor’ or ‘poor’ in understanding:

• the purpose of taxation (42%)
• general understanding of taxation responsibilities (51%)
• where to obtain assistance on taxation (66%)
• how to complete a tax return (78%).
   

Reeta Sidhu and Vic Mazzone PSM engaging with principals at a Principals Conference in 2025.
Image: Australian Taxation Office

Working together

To deepen understanding of the needs of Australian young people, and build the case for curriculum change, the ATO worked with research, industry and education partners to:

• identify beliefs, attitudes and norms which drive compliance intention and behaviour of the Australian community regarding participation in the taxation and superannuation systems
• build the case for teaching and learning about taxation and superannuation at school using an academic research review
• gauge community perceptions and sentiment about teaching taxation and superannuation to school students
• develop benchmarks for the knowledge that school-aged children have about the taxation and superannuation systems.

On the path to including taxation and superannuation in the Australian Curriculum, the ATO collaborated with the Australian Curriculum, Assessment and Reporting Authority, Treasury, the Australian Securities and Investment Commission, and principal and teacher associations.

In 2024ꟷ25, the ATO Schools Education team worked with curriculum experts and teachers to create online classroom resources and an accredited professional development course to support the teaching of tax and superannuation in Australian schools.

Each state and territory is progressively adopting the new Australian Curriculum, with full implementation expected by 2027.

Benefits for the community

The ATO supports schools through the Tax, Super + You online learning platform and offers learning products for primary students and professional development programs for teachers. Uptake has been strong, with 83% of secondary schools now using Tax, Super + You.

Improving participation in taxation and superannuation systems, by supporting student learning through the Australian Curriculum, will lead to better outcomes for individuals and the country as a whole. Voluntary compliance is expected to increase, leading to a stronger tax base to fund services and infrastructure. For individuals, better understanding these systems will improve their ability to make informed financial decisions throughout their lifetimes.

The ATO’s work in this area has been recognised globally, with international tax jurisdictions looking to learn from its approach.

Find out more

Australian Taxation Office (2025) School education program, ATO website, accessed 7 August 2025.

Curtin University (2017) Taxation Education in Secondary Schools – What Are Students Actually Being Taught?, Curtin Law School website, accessed 14 August 2025.