Income Tax Terminology

Weekly payment made by the employer to the employee

• Gross Salary

• Salary

• Wages

• Nett Salary

Monthly payment made by the employer to the employee

• Gross Salary

• Salary

• Wages

• Nett Salary

 The salary that the employer pays you before any deductions.

• Gross Salary

• Nett Salary

 The salary that the employer pays you before any deductions.

• Gross Salary

• Nett Salary

The actual amount the employee gets paid out after all deductions have been subtracted.

• Gross Salary

• Nett Salary

Income tax is calculated based on your __________ salary.

• Annual

• Monthly

• Weekly

UIF stands for ...

• Unemployment Injury Fund

• Unemployment Industry

• Unemployment Insurance Fund

• It doesn't stand for anything

Which of the following are correct?

(G=Gross Salary, N=Nett Salary, D=Deductions)

• G-D=N

• D-N=G

• N-D=G

• N+G=D

Which of the following are NOT deductions?

• These are ALL deductions

• Income tax

• Medical Aid

• Pension

• Loans from the company

Deductions are the SAME AS Tax deductibles

• True

• False