For a gross annual income of \$52\,000, calculate the net income when:
Tax is \$11\,100 and superannuation is \$2500 per year.
Tax is \$14\,000, superannuation is \$3200 and insurance is \$2600 per year.
Tax is \$12\,600, rent is \$12\,500 and union fees are \$800 per year.
Bill earns \$843.50 per week and has the following deductions from his gross wage: tax \$253.05, superannuation, \$85, and union fees, \$25.61.
Calculate Bill's net pay.
Express his income tax as a percentage of his gross pay.
Express his union fees as a percentage of his gross pay, correct to one decimal place.
Amanda earns \$2563.65 every two weeks and has the following deductions from her gross wage: tax of \$559.17, superannuation of \$79, and union fees of \$22.47.
Calculate Amanda's net pay.
Express her income tax as a percentage of her gross pay, correct to one decimal place.
Express her superannuation as a percentage of her gross pay, correct to two decimal places.
A carpenter has an annual salary of \$38\,080 and must pay 16\% tax.
Calculate the net annual income of the carpenter.
Calculate the net weekly income of the carpenter.
If tax is stated as being 15.9 cents in the dollar, what percentage tax is this?
Brad has a gross weekly wage of \$982.32, and his net weekly wage is \$781.57. Brad's weekly deductions are \$36.27 for health insurance, \$9.76 for union membership, and taxes.
How much is Brad's total weekly deductions?
How much tax does Brad pay each week?
What percentage of Brad's gross wage is paid in tax? Round your answer to one decimal place.
What percentage of Brad's gross wage is paid for health insurance? Round your answer to two decimal places.
What percentage of Brad's gross wage goes towards union fees? Round your answer to three decimal places.
A train conductor is paid \$21.66 per hour for a 40-hour week, with overtime paid at a time and a half rate.
Find her net pay for a week when she worked for 43 hours and had PAYG tax deductions of \$109.28.
What percentage of her gross pay was paid in tax? Round your answer to the nearest whole number.
Calculate the percentage of gross income going to taxes, correct to two decimal places, when:
Gross income is \$49\,000, income tax is \$13\,000 and superannuation is \$5400.
Express net income as a percentage of gross income, correct to two decimal places, for each of the following cases:
A self-employed tradesman must put aside 9\% of each fortnightly wage towards superannuation, and pay 10\% GST to the government. If he earns \$1067 in a fortnight, calculate his net income after these deductions.
A lifeguard earns a gross hourly wage of \$19 during normal working hours, and earns time-and-a-half on weekends. Every fortnight, he works 19 normal hours and 14 hours on weekends.
Find his gross fortnightly wage.
Find his net fortnightly income, given that he is taxed at a rate of 12\%.
Bob received his weekly pay slip. His hourly rate is \$23.21. Complete the third column of the following table:
| Hourly Rate | Hours | Pay | Deductions | |
|---|---|---|---|---|
| \text{Normal} | 34 | \text{Tax}\left(25\%\right) | \$252.41 | |
| \text{Time-and-a-half} | 5 | \text{Superannuation} | \$95.92 | |
| \text{Double} | 1 | \text{Union} | \$9.19 | |
| \text{Gross Wage} | \text{Health Fund} | \$20.78 | ||
| \text{Total Deductions} | ||||
| \text{Net Wage} |
Ben is a window cleaner and is paid a gross wage of \$28.55 per hour for 52 hours per fortnight. Each fortnight \$162.92 is deducted as PAYG tax instalments as well as \$43.28 for in home and contents insurance. Find Ben's net fortnightly pay.
Valentina, a retiree, receives annual superannuation payments of 64\% of her final year's salary of \$55\,000. Calculate:
Her annual disposable superannuation income, if her income tax is 24\% of her gross income.
Michael receives a weekly gross salary of \$530. He pays 19\% of this in income tax, 9\% in superannuation and \$7.70 in medical insurance.
Calculate his income tax.
Calculate the amount paid in superannuation.
Calculate his net weekly pay.
If 9\% tax is payable on income but not inheritance, how much must be deducted from an income and inheritance that totals \$7350, of which 46\% is inheritance?
A labourer is paid a gross annual salary of \$31\,300. Each week, he contributes 8\% of his gross pay to a voluntary superannuation fund. His other weekly deductions are \$103.50 PAYG tax and \$9.50 for union fees. Calculate:
His gross weekly income.
His weekly superannuation contribution.
His total weekly deductions.
His net weekly income.
In the last financial year, Carl was paid a wage every month, and each week there was \$61 deducted as PAYG tax.
How much did Carl pay in total in PAYG tax last financial year?
At the end of the financial year, he calculates his total tax payable to be \$3049. Will he receive a refund or have tax owing?
Amelia’s employer deducts a percentage of her income in tax. The fortnightly amount deposited into Amelia's account is \$1964 and she earns an annual gross income of \$63\,830.00.
Calculate her net annual income.
Hence, calculate the rate at which she is being taxed. Round your answer to the nearest whole percentage.
Roxanne’s gross fortnightly pay is \$2845.18. Each fortnight her employer deducts \$592.04 in PAYG tax instalments and she contributes \$47.63 to a voluntary superannuation fund for her retirement.
Find Roxanne's net fortnightly pay.
Find Roxanne's weekly net pay.
Employers are legally obliged to pay an amount worth 9.5\% of an employee's income into a superannuation fund. If Eileen's annual income is \$43\,000 and she chooses to contribute a further 5\% of her income into her superannuation fund, calculate:
The amount paid into Eileen's superannuation fund in one year.
The amount extra paid into Eileen's superannuation fund the following year, when she receives a 9\% pay rise.
Yuri has a gross salary of \$69\,941.69 with an annual income tax deduction of \$15\,759.98, a superannuation contribution of 9.5\% of the gross salary and a health insurance contribution of \$92 per week, for 52 weeks.
Calculate his annual superannuation contribution.
Calculate his annual health insurance contribution.
Calculate his total annual deductions.
Calculate his net annual income.
Neil is self-employed and must put aside his own superannuation and tax each month. He estimates his income in the first half of the year to be \$57\,600 and for it to grow by 2.8\% in the second half of the year. He is to be taxed at a rate of 30\% and must put aside 9.5\% of his gross annual income into a superannuation fund.
Calculate his expected gross income for the year.
Calculate how much he must deduct from his gross income each month to pay his tax and superannuation.
The following table shows the tax rates for 2018 to 2019:
Resident Tax Rate (2018-2019) Table
| Taxable income | Tax on this income |
|---|---|
| \$0 \text{ - }\$ 18\,200 | \text{Nil} |
| \$18\,201 \text{ - }\$ 37\,000 | \$0.19\text{ for each } \$1 \text{ over } \$18\,200 |
| \$37\,001 \text{ - }\$ 90\,000 | \$3572 \text { plus } \$0.325 \text{ for each } \$1 \text{ over }\$37\,000 |
| \$90\,001 \text{ - }\$ 180\,000 | \$20\,797 \text { plus } \$0.37 \text{ for each } \$1 \text{ over } \$90\,000 |
| \$180\,001 \text{ and over } | \$54\,097 \text { plus } \$0.45 \text{ for each } \$1 \text{ over } \$180\,000 |
Calculate the income tax payable for the following taxable incomes:
\$8326
\$36\,810
\$53\,395
\$146\,664
\$194\,388
Last financial year, Roxanne's taxable income was \$157\,872. Based on the Resident Tax Rate (2018-2019) table, calculate:
The income tax payable on Roxanne's income.
The Medicare levy payable, given that it is 2\% of taxable income.
The total amount Roxanne needs to pay in income tax and Medicare levy.
Ivan is a teacher who earns an annual salary of \$40\,800. He earns an additional \$4520 per year from private tutoring. He is allowed various tax deductions (for resource books etc.) amounting to \$786, and he has paid tax instalments of \$4880 during the year. Find:
His total gross income.
His taxable income.
His tax payable using the Resident Tax Rate (2018-2019) table.
The tax amount he still owes.
Hermione earned a taxable income of \$91\,354 in the last financial year. Throughout the year, her employer deducted a total of \$22\,386.15 in PAYG tax instalments.
Calculate how much Hermione must pay in income tax for the year using the Resident Tax Rate (2018-2019) table.
Hermione also owes a Medicare levy of \$1827.08, in addition to her income tax. Determine whether she will receive a refund or have tax owing.
Find the tax amount she still owes.
Sharon is a project manager with a taxable income of \$97\,192. Throughout the year, her employer has deducted \$553 per week in tax instalments.
Calculate Sharon's tax payable using the Resident Tax Rate (2018-2019) table.
Calculate the Medicare Levy, which is 2\% of taxable income.
Since Sharon's employer has deducted more than is needed from her income, Sharon is entitled to a refund for the year. Find the amount of this refund.