24697 Income Related Calculations

What does annual mean?

• On regular basis

• Each year

• A variable period of time

• Every four months

The number of fortnights in a year

• 62

• 26

• 52

• 12

Chris works 25 hours a week and is paid at a rate of $18.50 per hour. Calculate Chris' weekly gross wage.

• $462.50

• $450

• $459

• $500

Julie works 20 hours a week and is paid at a rate of $22 per hour. Calculate Julie' fortnightly gross wage.

• $440

• $5,280

• $404

• $880

What do we call the amount of money received for work done, calculated on an hourly basis?

• Salary

• Income

• Wage

• Payment

What is your income, after tax has been paid, called?

• Net Pay

• Gross Pay

• Profit

• Sales

Convert a gross annual incomes of $65,000 to a gross monthly income.

• $780,000

• $5146.67

• $5416.67

• $5416

Sam earns a gross annual income of $19,700 for working 22 hours per week. What is his hourly rate ?

• $17.22

• $378.85

• $41.00

• $410

Emily works 24 hours a week and gets paid a rate of $20 per hour. Calculate Emily's gross monthly pay.

• $480

• $1920

• $24,960

• $2080

Use the following Income Tax Rates:

$0 – $14,000: 10.5%

$14,001 – $48,000. 17.5%

$48,001 – $70,000 30%

Over $70,000 33%

Calculate David's tax on an annual income of $ 18,000

• $1,995

• $3,150

• $5,400

• $2,000