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Year 11 (2025) Maths Standard (2025) Earning and Managing Money

Taxable Income

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Question 1
65997

Gene is a computer programmer who is paid \(\$2246\) per fortnight. This financial year he also earned \(\$13\,540\) from a phone app that he made. Give your answers to the nearest dollar.

(i) Calculate Gene's gross income for the financial year.

(ii) Gene's allowable tax deductions total \(\$5608\). Calculate his taxable income.

Part a: \(\$\) 
71936
 (nearest dollar) 1 mark
Part b: \(\$\) 
66328
 (nearest dollar) 1 mark

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