Earning and Spending

This is a type of employment...

• Informal

• Casual

• Formal

• Ongoing

p.a means

• Part Annual

• Pay Annually

• Per Annum

• Part of the Arm

Wage calculation =

• Time x Money

• Hours at work x Wage per day

• Money x Hours worked

• Number of hours worked x Wage per hour

In addition to wages, employees may also receive...

• Additional Work

• Allowances

• Bonuses

• High Fives

Commission

• Is a decimal value that an employee earns

• Is paid a percentage of the value of the product they sell

• Is something involved in salaries

• Is given to an employee after they sell a product

Taxable income calculation =

• Gross income - Allowances

• Gross income - Tax deductions

• Gross income + Allowances

• Gross income + Tax deductions

If I earn $17850 in the financial year. How much tax will I pay?

• Nil

• 19 cents for each $1 over $18,200

• $3572 + 32.5 cents for each $1 over $37,000

• $17547 + 37 cents for each $1 over $80,000

Surplus means

• More than we need

• Money left over

• Have spent more than we have

GST is the Acronym for...

• Greats and Servicing Tax

• Goods and Services Tax

• Goods and Systematic Taxation

• Games and Savings Tax

Discount - What is 15% off of $280

• $42

• $50

• $46

• $32