Financial Maths - Income

You earn a salary of $48000. Find your weekly income.

• $48000 divided by 52. =

• $48000 divided by 12

• $48000 divided by 7

• $48000 divided by 26

Hourly rate of $60. How much do you earn in a week where you work for 30 hours at time and a half ?

• 60 divided by 30 X 1.5

• 60 X 30

• 60 X 1.5

• 60 X 30. X 1.5. =.

Earn 17.5% holiday loading on 4 weeks pay. How much do you earn for 4 weeks pay if you earn $800 a week ?

• 17.5% X 800 divided by 4

• 17.5 X 800 X 4

• 17.5% X 800 X 4

• 17.5% X800

Gross income =

• The total of all income

• The total of all deductions

• The total of all bonuses

Net income =

• Gross income + deductions

• Gross income - deductions (tax, union fees)

• Gross income + interest

Taxable income =

• Total of donations to charity

• Gross income - work related expenses or donations to charity

• Gross income + work related expenses or donations to charity.

Identify which of the following is an example of income.

• Commission from the sale of a car.

• Interest earned on a savings account

• Cost of safety glasses for working in the Lab.

Identify a deduction from the list

• Interest earned on an investment

• Cost of driving to Canberra each week for work related meetings

• Cost of buying a new Jacket

Tax table is...........

• The table used to determine your gross pay

• Something accountants use to eat off

• The table used to decide the amount of income tax you will pay

P.a is short for which term?

• Personally accountable

• Per annual leave

• Per annum