NSW Y11 Maths - Standard Earning and Managing Money

Diagnostic Quiz on Earning and Managing Money

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Subtopics of Earning and Managing Money

  • Salary And Wages
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  • Annual Leave Loading and Bonuses
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  • Overtime and Allowances
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  • Commission
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  • Piecework, Royalties
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  • Allowable Tax Deductions
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  • Taxable Income
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  • Gross Pay, Net Pay and Deductions
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  • Calculating Tax
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F1.2 Earning and Managing Money– Looks at salaries, taxes and other work allowances. Will be extremely useful when leaving school and looking for work.

If you are not already, you will likely have a part time job that will pay you a wage or salary. Whats the difference? What are the pros and cons of a salary and/or wage? Unfortunately you will have to pay tax on monies earned so is there a way that you can minimise tax paid so there is more money in your pocket?

This topic really concerns your financial wellbeing going forward so definitely paying extra attention in this section - and getting it right.  

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