Calculating income tax Mathematics Standard Stage 6 (Year 11) Show me the money Learning intentions and success criteria Learning intentions To be able to determine the income tax payable using information in income tax tables. Success
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Presentation Transcript
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Calculating income tax Mathematics Standard – Stage 6 (Year 11) Show me the money<br>
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Learning intentions and success criteria Learning intentions
To be able to determine the income tax payable using information in income tax tables.
Success criteria
I can explain why we pay taxes.
I can read and use income tax tables.
I can explain where the values $4288, $31 288 and $51 638 come from in the income tax table.
I can calculate the amount of income tax payable. 2<br>
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Connecting learning<br>
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Calculating income tax (1) 2024–2025 Tax table 4<br>
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Releasing responsibility<br>
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Calculating income tax (2) Example 1 6<br>
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Calculating income tax (3) Self-explanation prompts Why do we subtract $135 000 from the taxable income? Why do we add on $31 288 to the calculation? How might we know that this answer is reasonable? 7<br>
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Calculating income tax (4) Your turn 8<br>
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Calculating income tax (5) Solution 9<br>
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Non-example Mao’s tax payable 10<br>
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Independent practice<br>
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Calculating income tax (6) Would you rather use the current tax table or pay a flat rate of 30% income tax? 12<br>
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Calculating income tax (7) Graph scenario 13<br>
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Calculating income tax (8) Bracket creep scenario Corinne earns $24/hr working a 35-hour week over 5 days.
She gets offered an extra hour at work each day.
However, she has to pay $20/ hour for someone to walk her dog at least 3 times a week if she picks up the extra hours.
Is it worthwhile for Corinne to take up the offer of the extra hours? 14<br>
