The sad part of every job..  Kevin is a new employee at MmmPizza. Each week he works 37.5 hours at $7 per hour.  What is his pay?  Stop complaining.

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Presentation transcript:

The sad part of every job.

 Kevin is a new employee at MmmPizza. Each week he works 37.5 hours at $7 per hour.  What is his pay?  Stop complaining and get your calculator out.

 What if I told you his pay cheque was less than $225?

 No, you tell me.  No, don’t copy just listen.

 Income Tax – money the government takes from your income (pay).  The amount gets higher with the more you get paid.  EI – Employment insurance: money you pay so if you ever loose your job you can still have some money.  But only lasts a few months.  Can’t be fired or quit.  CPP – Canada Pension Plan: money saved for when you retire.

 Municipal – City level. (Halifax)  Provincial – Province level. (Nova Scotia)  Federal – Canadian Level. (Canada)

 Gross income – how much you are paid BEFORE you subtract the deductions.  Net income – how much you are paid AFTER you subtract deductions.

 Anyone in class have a S.I.N. card?  S.I.N. – Social Insurance Number. A number the government uses to keep track of your deductions because someone might have the same name as you.

 #3, 4, 5, 6, 7, 8.