Earning money
An amount paid by an employer for each hour worked.
Wage
When a person is paid 1.5 times their normal pay
Time-and-a-half
The percentage paid for holiday loading
17.5%
Pay as you go is abbreviated to
PAYG
The tax payable for an income of $18000
None
A fixed amount earned per year
Salary
When a person is paid 2 times their normal pay
Double time
Annual leave loading
The total amount earned
Gross pay
The tax payable for an income of $20000 p.a.
$342
A small amount earned that does depend on the hours worked
Stipend
The amount paid when a person is paid $20 per hour and they are paid time-and-a-half
$30
The number of weeks holiday pay is calculated on
4
When deductions are taken out of gross pay
Net pay
The tax payable for an income of $50000 p.a.
$6717
A percentage of the value of an item sold
Commission
The amount paid when a person is paid $20 per hour and they are paid double time
$40
The amount of annual leave loading if a person earns $500 per week
$350
When deductions and tax are removed from gross pay
Take home pay
The tax that goes to paying for health care
Medicare levy
A payment to an author, singer or artist
Royalty
The amount paid per hour if they earn $200 for 4 hours work
$50
The amount of annual leave loading if a person earns $500 per week
$2350
The take home pay of a person who has earned $2000 and has to pay $250 in tax and has $300 of deductions
$1450
The tax payable for an income of $200000 p.a.
$60667