Understanding Net Income and Deductions for Grade 11 Workplace Math
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This warm-up exercise for Grade 11 Workplace Math focuses on approximating net income using tables provided by the Canadian Revenue Agency (CRA). Students will learn about Maximum Annual Insurable Earnings of $42,300, an employee premium/contribution rate of 1.73%, and the annual maximum premium for Employment Insurance (EI) set at $747.36. The session encourages students to complete the warm-up on page 42 and continue reading about EI and CPP tables on page 43, deepening their understanding of income deductions and their impact on net income.
Understanding Net Income and Deductions for Grade 11 Workplace Math
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Presentation Transcript
Approximating Net Income Grade 11 Workplace math
Warmup CRA Reading Tables Net Income Agenda
Maximum Annual Insurable Earnings - $42,300.00 Premium/Contribution Rate (employee) - 1.73% Annual Maximum Premium (employee) EI - $747.36 Finish Page 43 Reading Ei & CPP Tables
Canadian Revenue Agency http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/t4032/jn10/menu-eng.html Reading Ei & CPP Tables
______ Income = ________ Income - _________ The amount of deductions from someone's pay depends largely on____________. In general, the more money that you earn,_______________. Net income