Income Maths

What is the name of your wage before any deductions

• Horrible Pay

• Gross Pay

• Weird Pay

• Monster Pay

Tax credits are

• Deducted from your Gross Wage

• Added to your tax

• Deducted from your Gross tax

• A video game

What is the name of the point which the max standard rate percentage is charged at

• Standard Rate Cut Off Point

• Higher Rate Cut Off Point

• Lower Rate Cut Off Point

• PAYE Level

What to the letters USC stand for?

• Under Stairs Cupboard

• Unity Standing Collected

• University Scholar Charge

• Universal Social Charge

What does PRSI stand for?

• Pay Related Social Insurance

• Please Read Safety Instructions

• Payment Reimbursement Standing Insurance

• Prank Related Social Inspection

Total Tax is calculated by;

• Gross tax + Tax Credits

• Gross Tax (standard and Higher) - Tax Credits

• Tax Credits + SRCOP

• Gross Income + PRSI

Which describes USC the best

• Money that we are given back by the government

• Charged at the same rate to everybody

• A flat rate charge with 1 percentage only

• A multi-levelled percentage bands that are deducted depending on the Gross pay earned

Which of these describes how NET Pay/ Take home pay is calculated

• Total Tax - Gross Pay - PRSI + USC = Net Pay

• Gross Pay - Total Tax - USC - PRSI = Net Pay

• Net Pay - Total Tax - USC - Gross Pay = PRSI

• Gross Pay - Standard Rate Cut Off Point - USC = Net Pay

PRSI can contribute to a persons Unemployment or pension benefits?

• True

• False

• Both

Which best describes how to get 0.7% of a number?

• Multiply by 70

• Divide by 100 and multiply by 0.7

• Multiply by 100 and divide by 0.7

• Divide by 1.7