1. 1 Press Ctrl-A ©G Dear2009 – Not to be sold/Free to use DeductionsTax Stage 6 - Year 11 Applied Mathematic (Preliminary General 1)

2. 2 Income Tax P.A.Y.E. P.A.Y.E. income tax is collected periodically. PAYEPAYEPAYEPAYE ay s ou arn A personal tax levied on annual income

3. 3 Your tax return & ABN application may take longer. Why do you need a tax file number? It is not compulsory to have a tax file number (TFN). Employers must take 46.5% of your wages in tax. Financial institutions tax your interest at 46.5%. Centrelink will generally not pay you an allowance e.g. Youth Allowance, Newstart or Austudy. You won’t be able to defer your higher education fees. Without a tax file number:

4. 4 Tax Tables WeeklyFortnightlyMonthly Fred earned $483 last week. How much PAYE tax needs to be deducted by his employer? Foreign Residents No tax-free Threshold Local Residents Tax-free Threshold No leave loading Pay =$483- $50 = $433

5. 5 Tax Tables WeeklyFortnightlyMonthly A teacher earned $2890 last fortnightly. How much PAYE tax needs to be deducted by his employer? Foreign Residents No tax-free Threshold Local Residents Tax-free Threshold No leave loading Pay =$2890- $676 = $2214

6. 6 Tax Tables WeeklyFortnightlyMonthly An office worker earned $5902 last monthly. How much PAYE tax needs to be deducted by his employer? Foreign Residents No tax-free Threshold Local Residents Tax-free Threshold No leave loading Pay =$5902- $1352 = $4550