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[[image:Icon-FM.png align="left"]]FM3 Taxation
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 * < Prep ||< Can increase an amount by a fixed percentage. ||<  ||
 * 1 || Can explain tax deductions (what and why) and the difference between gross and taxable income. || 12A/B ||
 * 2 || Can calculate taxable income given gross income and tax deductions. || 12A/B ||
 * 3 || Can explain the principle of the Medicare levy, the Medicare surcharge levy and how to calculate them. || 12C ||
 * 4 || Can explain the ideas of the progressive tax system. || 12D ||
 * 5 || Can use a tax table to calculate tax on taxable income. || 12D ||
 * 6 || Can explain the principle of goods and services taxes. || 12E ||
 * 7 || Can calculate GST/VAT included/excluded prices. || 12E ||
 * 8 || Can explain the shape and gradients of the progressive income tax graph (piecewise linear function). || 12F ||
 * 9 || Can create a tax graph from a tax table. || 12F ||
 * 10 || Can compare and contrast progressive income tax to flat income tax. || 12F ||