FINANCIAL MATHS 3
FINANCIAL MATHS 3
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Topics: Calculating net pay, net incomes and tax
Topics: Calculating net pay, net incomes and tax
Grades: 9th to 11th
Calculating Net Income Workbook
Scaffolded notes + worksheets + step-by-step solutions + teacher notes +students folded notes to understand and practise:
• Understand a gross income is the total amount of money earned.
• Understand a net income is the gross income minus all deductions.
• Calculate net income from gross income after deductions such as taxation, superannuation and other deductions.
It is designed for schools and home-schooling.
There are two styles of workbook.
- Style 1: Cover, fill in the blank notes and worksheets
- Style 2: Cover, completed (filled) notes and worksheets
Total pages in each workbook: 14
Easy classroom preparation:
• 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 note
• For Teacher notes displayed on whiteboards.
Learning Outcomes:
Understand a gross income is the total amount of money earned.
Understand a net income is the gross income minus all deductions.
Calculate net income from gross income after deductions such as taxation, superannuation and other deductions.
Determine one amount expressed as a percentage of another.
Grades: 9th to 11th
Working Mathematically on Pay Slips:
Variety Pay slip tasks for students to learn about pay slips. They complete the pay slips by:
calculating gross pay such as weekly or monthly wage from an annual salary, wages from an hourly rate including situations involving overtime
calculating total deductions such as tax, pension and other deductions calculating net pay.
determining one amount expressed as a percentage of another.
This resource contains pay slips + Answer keys.
It is designed to be suitable for schools and home-schooling.
Teaching Ideas:
Students work individually or in pairs to complete the tasks then they swap the pay slips with their friend or another pair to check the answers.
Grades: 9th to 11th
Working Mathematically on Pay Slips:
Variety Pay slip tasks for students to learn about pay slips. They complete the pay slips by:
calculating gross pay such as weekly or monthly wage from an annual salary, wages from an hourly rate including situations involving overtime
calculating total deductions such as tax, superannuation and other deductions.
calculating net pay.
determining one amount expressed as a percentage of another.
This resource contains pay slips + Answer keys.
It is designed to be suitable for schools and home-schooling.
Students work individually or in pairs to complete the tasks then they swap the pay slips with their friend or another pair to check the answers.
Comply with Australian Curriculum:
Calculate weekly or monthly wage from an annual salary, wages from an hourly rate including situations involving overtime and other allowances and earnings based on commission or piecework (ACMGM002)
Convert units of rates occurring in practical situations to solve problems (ACMEM015)
Calculate a percentage of a given amount (ACMEM011)
Determine one amount expressed as a percentage of another (ACMEM012)
Grades: 9th to 12th
Calculating Tax on Income in Australia 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
Grades: 9th to 12th
3 tasks for students to learn and understand about the PAYG system (Pay As You Go) for Australian tax payers.
Teaching Ideas:
Teacher and students complete each task together or Students work individually or in groups of two to four people to complete the tasks.
Task 1: Fill in the blanks using the given word bank
- Aim: to understand about the PAYG Income Tax System & The Australian Taxation Office
Task 2: Cut and glue activity
- Aim: to understand the PAYG Income Tax System map
Task 3: Cut and glue activity
- Aim: to describe the tax process in the PAYG Income Tax system.
Learning Outcomes:
- Understand about the PAYG Income Tax System
- Understand the tax process in the PAYG Income Tax system.
Comply with Australian Curriculum
F1.2: Earning and managing money
Grades: 9th to 12th
The Tax Return map activity helps students learn and understand the Tax Return for Australians.
Students cut each label and place them in the correct box to complete the tax return map.
There are 3 skill levels.
- Easy: Most boxes are completed
- Medium: Some boxes are completed
- Hard: All boxes are blank.
Answer keys are also included.
Learning Outcomes:
- Understand about the PAYG Income Tax System
- Understand the tax return in Australia.
Comply with Australian Curriculum
F1.2: Earning and managing money
Grades: 9th to 12th
The Tax Return map classroom wall activity is a fun activity to help students learn and understand the Tax Return for Australians.
Students cut each label and place them in the correct box to complete the tax return map. Then they attach the completed activity to the classroom wall.
The resource is in A3 (420 mm by 297 mm) landscape format size.
Teaching Ideas:
A teacher and students complete the map together or students complete the map as a class activity.
Learning Outcomes:
- Understand about the PAYG Income Tax System
- Understand the tax return in Australia.
Comply with Australian Curriculum
F1.2: Earning and managing money
PAYG Tax Return map classroom wall Posters help students learn and understand the Tax Return system in Australia.
The resource is in A3 (420 mm by 297 mm) landscape format size.
Grades: 9th to 12th
Key learning:
- Understand about the PAYG Income Tax System
- Understand the tax return system in Australia.
Australian Curriculum:
F1.2: Earning and managing money.
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