Financial Literacy 2023

TFN stands for

• Tax free number

• taxation fund number

• treasury fund net

• tax file number

An employee who provides an incorrect TFN will be taxed at what rate?

• 15%

• 47%

• 33%

• 50%

What is gross pay?

• the amount of money earned minus any taxes

• a disgusting amount of money earned

• the amount earned before any deductions have been taken out

• money earned in addition to base salary

How often must you complete a tax return?

• every 6 months

• whenever you feel like it

• every two years

• every year

The investment type, ETF, stands for

• Extra-terrestrial fund

• Enterprise-technology fund

• Exchange-traded fund

• Equities trading fund

If you're buying non-fungible tokens (NFTs), most marketplaces accept which crypto currency as payment?

• Bitcoin

• Shiba Inu

• Ethereum

• Binance Coin

If inflation is at 5% and you have $1000 in your savings account, which pays 1%, how much is your cash actually worth in a year?

• $1040

• $960

• $950

• $1000

GST in Australia is calculated at?

• 5%

• 8%

• 10%

• 11%

If given the GST exclusive price, you can calculate the price including GST by

• multiplying by 1.1

• dividing by 11

• dividing by 10

• multiplying by 11

To avoid paying lenders' mortgage insurance you need a Loan to Value Ratio (LVR) of less than

• 90%

• 20%

• 80%

• 50%