Year 9 to 12 Financial Maths Workbook-Calculating Tax on Income in Australia-PAYG Tax

Year Level: 9th to 12th

Year 9 to 12 Financial Maths Workbook-Calculating Tax on Income in Australia-PAYG Tax

Financial mathematics workbooks to help students learn and understand:

• how to calculate gross incomes, deductions, individual tax income, tax payable, Medicare levy, etc.
• to determine tax liability or tax refund from Pay As You Go (PAYG).

The workbook in 2 styles.

Style A: Cover, fill in the blank notes and worksheets

Style B: Cover, completed notes and worksheets

Total pages in each workbook: 16

Easy classroom preparation:

• For the teacher notes: print the notes on transparencies or display them on a whiteboard.

• For the workbook: print and staple all pages together to make a book.

• For the folded notes: print, fold and glue the pages to make a folded notes

Learning Outcomes:

– Understand the PAYG Income Tax System in Australia

– Identify allowable tax deductions

– Calculate taxable income after all allowable tax deductions are taken from gross pay

– Calculate tax payable using the current tax scales

– Calculate the Medicare levy (basic levy only)

– Determine if more tax is due or if there will be a tax refund

– Understand Australian tax returns.

Comply with Australian Curriculum:

F1.2: Earning and managing money