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Income 11 Foundation

QuestionAnswer
Income amount of money earned
Gross total money before tax and deductions
Net amount of money left after deductions
Salary A fixed yearly amount paid fortnightly or monthly
wages An hourly rate of pay
Overtime time worked over regular hours
piecework payment per item or task
Commission Payment as a percentage of sales made
Retainer A single advance payment or recurring to maintain employee
Per Annum per year
Fortnight 2 weeks
52 weeks every year
26 fortnights per year
Quarterly every 3 months
52.18 weeks in a wage earners year
time and a half 1.5
double time x 2
triple time x 3
Months in a year 12
Hourly rate payment per hour worked
Royalties percentage paid for owners of items sold
Bonus amount paid for excellent service or productivity
Allowance amount provided by employer for work related costs
Annual Leave Loading extra pay for annual holidays
Created by: nicolenixon
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