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Financial Terms Flashcards | StudBud
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Financial Terms
Taxable Income
Wages and Salaries
Financial Terms
29 terms
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1
Wages and Salaries
Contributions towards your retirement.
Interest on the original and earned interest.
Extra payments or expense coverage.
Pay for work, either hourly or yearly.
2
Taxable Income
Records showing your pay details.
Income left after allowed deductions.
Money for work-related expenses.
Understanding and managing your money well.
3
Payslips
Pay for work, either hourly or yearly.
Base pay given before commissions.
Records showing your pay details.
Having a paid job or work arrangement.
4
Medicare Levy
Records of money in and out of your account.
2% tax to support public healthcare.
Rules for pay and conditions in jobs.
Extra pay for good performance.
5
Annual Leave Loading
Interest on the original and earned interest.
Base pay given before commissions.
Checking costs to find the best deal.
Extra pay during holiday leave.
6
Employment
Having a paid job or work arrangement.
Interest on the original and earned interest.
Interest on the original and earned interest.
Pay based on a percentage of sales.
7
Income
Money received from work or investments.
Extra pay for good performance.
Retirement savings from your income.
Extra payments or expense coverage.
8
Deductions
Expenses subtracted from your income.
Records showing your pay details.
Pay per item made or completed.
Rules for pay and conditions in jobs.
9
Simple Interest
Total pay before deductions.
Interest on the original money only.
2% tax to support public healthcare.
Rules for pay and conditions in jobs.
10
Gross Pay
Total pay before deductions.
Take-home pay after tax and deductions.
Pay based on a percentage of sales.
2% tax to support public healthcare.
11
Awards
Take-home pay after tax and deductions.
Rules for pay and conditions in jobs.
Understanding and managing your money well.
10% tax on goods and services in Australia.
12
Penalty Rates and Overtime
10% tax on goods and services in Australia.
Base pay given before commissions.
Extra pay for unusual work hours.
Tax taken from pay by employer.
13
Commission
Interest on the original money only.
Pay based on a percentage of sales.
Money earned from work.
Rules for pay and conditions in jobs.
14
Bank Statements
Records of money in and out of your account.
Total pay before deductions.
Take-home pay after tax and deductions.
Having a paid job or work arrangement.
15
Piecework
Pay per item made or completed.
Records showing your pay details.
Pay for work, either hourly or yearly.
Understanding and managing your money well.
16
Bonuses and Allowances
Extra pay for unusual work hours.
10% tax on goods and services in Australia.
Having a paid job or work arrangement.
Extra payments or expense coverage.
17
Retainer
Extra pay for unusual work hours.
Extra pay during holiday leave.
Base pay given before commissions.
Take-home pay after tax and deductions.
18
Financial Literacy
Understanding and managing your money well.
Tax taken from pay by employer.
Expenses subtracted from your income.
Extra pay for unusual work hours.
19
Bank Accounts
Having a paid job or work arrangement.
Places to store and manage your money.
2% tax to support public healthcare.
Pay based on a percentage of sales.
20
Superannuation
Records of money in and out of your account.
Take-home pay after tax and deductions.
Retirement savings from your income.
Understanding and managing your money well.
21
Net Pay
Extra pay during holiday leave.
Take-home pay after tax and deductions.
Income left after allowed deductions.
Rules for pay and conditions in jobs.
22
Allowance
Money received from work or investments.
Checking costs to find the best deal.
Money for work-related expenses.
Expenses subtracted from your income.
23
Compound Interest
Take-home pay after tax and deductions.
Interest on the original and earned interest.
Pay per item made or completed.
Interest on the original money only.
24
GST
Take-home pay after tax and deductions.
Expenses subtracted from your income.
10% tax on goods and services in Australia.
Money for work-related expenses.
25
Pay
Income left after allowed deductions.
Money received from work or investments.
Retirement savings from your income.
Money earned from work.
26
Comparing Prices
Places to store and manage your money.
Checking costs to find the best deal.
Interest on the original and earned interest.
Tax taken from pay by employer.
27
Royalties
Retirement savings from your income.
Extra pay for good performance.
Pay for each copy of creative work sold.
Pay per item made or completed.
28
Bonus
Take-home pay after tax and deductions.
Checking costs to find the best deal.
Extra pay for good performance.
Money earned from work.
29
PAYG
Tax taken from pay by employer.
Having a paid job or work arrangement.
Records showing your pay details.
Take-home pay after tax and deductions.
