Calculating Tax (HSC SSCE Mathematics Standard): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
ShowHide
Practise the questions
10 questions from this quiz
When does the Australian financial year run?
When does the Australian financial year run?
1 July to 30 June
What does a progressive tax system mean?
What does a progressive tax system mean?
Tax rate rises as income rises
What is the tax-free threshold in Australia?
What is the tax-free threshold in Australia?
$18,200
Which tax bracket does an income of $50,000 fall into?
Which tax bracket does an income of $50,000 fall into?
37,001-87,000
What is the tax payable on an income of $30,000?
What is the tax payable on an income of $30,000?
$2,242
What is the formula for calculating tax refund?
What is the formula for calculating tax refund?
Tax paid - Tax payable
When do you receive a tax refund?
When do you receive a tax refund?
When tax paid > tax payable
What percentage is the Medicare levy?
What percentage is the Medicare levy?
2%
What is the Medicare levy on $75,000 income?
What is the Medicare levy on $75,000 income?
$1,500
What is the highest tax rate for income over $180,000?
What is the highest tax rate for income over $180,000?
45 cents per dollar