Definitions
The hourly rate of pay is called a __________.
Wage
Tom earns $12.70 an hour. How much does he earn for 33 hours of work?
$419.10
A job has a normal working hours pay rate of $9.20 per hour. Calculate the pay, including overtime, from the following hours worked: 3 hours at the normal rate and 4 hours at time and a half
$82.80
Wayne pays 31.5% of his gross income in tax. How much tax does he pay on a gross income of $85 790?
$27023.85
Wage earners calculate annual income based on 52 weeks a year. Salary earners calculate annual income based on _____ weeks a year.
52.18
William earns a salary of $136 875 each year. Approximately how much is this each week (to the nearest cent)?
$2623.13
Ana's salary this year is $47 300, but she expects a pay rise of 2% each year. What is Ana's expected salary, after her yearly pay rise?
$48,246
John has a gross income of $45 000 and a net income of $20 000. How much did his deductions come to?
$25 000
__________ is a percentage of the overall sales amount.
Commission.
Talia earns $16 697.20 per year at McDonalds. Calculate her hourly wage if each week she works 38 hours.
$8.45
Stephen earns an hourly rate of $17.30 for the first 38 hours, time and a half for the next 3 hours and double time for each extra hour above that. Calculate his earnings if he works 44 hours in a week.
$769.85
A lawyer's salary is paid as $3120 a week with allowable work-related expenses totalling $2560 a year. What is the lawyer’s taxable yearly income?
$160 151.60
__________ income is gross income minus deductions such as tax, union fees and superannuation.
Net
A saleswoman is paid a retainer of $1500 per month. She also receives a commission of 1.25% on the value of goods she sells. If she sells goods worth $5600 during the month, calculate her earnings for that month.
$1570
When June was given her holiday pay she received 4 weeks pay and a 17.5% holiday loading. If her normal wage is $427 per week, how much holiday pay did she receive?
$298.90
Mrs Short has paid PAYG instalments of $360 each fortnight. She submits her deductions to the Australian Taxation office and discovers that her Tax owed for the financial year is $11479. State whether Mrs Short will receive a tax refund, or be in tax debt, and calculate the amount.
Mrs Short is in a tax debt of $2119
refund
Ken earns an annual salary of $59 735 and works a 38-hour week. His wife Brooke works part time in retail and earns $21.80 per hour. Determine who has the higher hourly rate of pay.
Ken
Jim, a part-time gardener, earned $261 in a week. If he worked 12 hours during normal working hours and 4 hours overtime at time and a half, what was his hourly rate of pay?
$14.50
Alan received a salary of $47 542 and a total from other incomes of $496. His total tax deductions were $1150. For salaries between $20001 and $50000, tax is paid as $2380 + 30 cents for each $1 over $20 000. Calculate the tax that Alan should pay.
$10 446.40