Wage & Salary
_____ is calculated by the number of hours worked is usually paid weekly
Wage
Salespeople or agents can make a percentage of the value of items sold or income made. This is called ____________
Commission
True or false? The tax paid based on the amount of income earned is calculated using a tax table.
True
_____ pay is the amount a person earns or receives each pay day
Gross
______ a fixed annual amount, paid weekly, fortnightly or monthly.
Salary
What is time-and-a-half as a rate (in numbers)?
1.5
A fixed amount paid (often upfront) is called a ____________
Retainer
______ is the tax taken from an individual's pay based on the amount of money earned.
Income Tax
____ pay is the amount of income left after the deductions i.e. tax & other deductions
Net
How many weeks in a year for salary workers?
52
Riley works 38 hours at $17.38 per hour and 5 hours overtime at time-and-a-half. Calculate his total earnings.
$790.79
A task where the amount paid is earned according to the number of items made/completed is called ___________
Piecework
Use the tax table on your worksheet to calculate the tax payable on an income of $35 000.
$3192
What is the website that you can access to check the minimal wage and awards for various types of jobs in Australia? (Hint: ____ _____ Ombudsman)
Fair Work Ombudsman
Liam works from 7:30 am to 3:00 pm Monday to Wednesday and from 8:00 am to 4:00 pm Thursday and Friday. His hourly pay rate is $16.38. Calculate Liam's weekly wage.
$630.63
Diane works at a warehouse under the following weekly award. Normal rate is $15.75 per hour.
- Normal rate - 38 hours worked
- Time-and-a-half - 3 hours worked
- Double time - 3 hours worked
What is her wage for working 44 hours?
$811.13
Lucy has a salary job where she works 40 hours a week and is paid $13.40 per hour. Lucy decides that she is taking her annual leave for 4 weeks in December. What will be her total pay for the four-week holiday (Weekly income + Annual leave loading)
$2519.20
Use the tax table on your worksheet to calculate the tax payable on an income of $50 000.
$7797
If you earn under $_______ you do not need to pay any tax.
$18200
Goran has an annual salary of $57410. How much would he be paid per week (nearest cent)?
$1100.23
Calculate the normal hourly rate of Sarah if she earns $862.40 by working 36 hours at normal rates and 4 hours at double time.
$19.60
Nicole is a bookseller who earns 4% commission on the value of books she sells. She is also paid a monthly retainer of $900. If Nicole's sales for March were $82 500, find her total income for March.
$4200
Use the tax table on your worksheet to calculate the tax payable on an income of $220 000.
$72547
How much is Ms Quek in debt.
Approximately 1 million dollary doos