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Year 11 Standard Chapter 2: Earning and managing money

Mastering the Art of Financial Mathematics: Unlocking the Secrets of Earnings, Deductions, and Tax Calculation!

Instructor: Akshar Education

Language: English

Student: 0

Certificate: Yes

Access: 42 days from day of enrolment

A$176

About The Course

What you will learn:

2A Salary and wages
2B Annual leave loading and bonuses
2C Overtime and special allowances
2D Commission
2E Piecework, royalties and income from government
2F Allowable tax deductions
2G Taxable income
2H Gross pay, net pay and deductions
2I Calculating tax

Outcomes:

• Calculate payments from an annual salary.
• Calculate wages from an hourly rate.
• Calculate wages involving overtime rates and allowances.
• Calculate annual leave loading and bonuses.
• Calculate earnings based on commission, piecework and royalties.
• Identify allowable tax deductions for different scenarios.
• Calculate the taxable income.
• Calculate net pay after deductions are made from gross pay.
• Calculate the Medicare levy.
• Determine the PAYG tax payable or refund owing using current tax scales.

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