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Jasmine paid $314.68 PAYG tax out of her weekly wage of 
$1014.65.
a How much PAYG tax did Jasmine pay for the year?
b How much did Jasmine earn for the year, after tax?

Jasmine paid $314.68\$314.68 PAYG tax out of her weekly wage of $1014.65\$1014.65.\newlinea How much PAYG tax did Jasmine pay for the year?\newlineb How much did Jasmine earn for the year, after tax?

Full solution

Q. Jasmine paid $314.68\$314.68 PAYG tax out of her weekly wage of $1014.65\$1014.65.\newlinea How much PAYG tax did Jasmine pay for the year?\newlineb How much did Jasmine earn for the year, after tax?
  1. Calculate Annual PAYG Tax: To find out how much PAYG tax Jasmine paid for the year, we need to multiply her weekly PAYG tax by the number of weeks in a year.\newlineWeekly PAYG tax: $314.68\$314.68\newlineNumber of weeks in a year: 5252\newlineAnnual PAYG tax = Weekly PAYG tax ×\times Number of weeks in a year\newlineCalculation: $314.68×52\$314.68 \times 52
  2. Find Annual Gross Income: Perform the multiplication to find the annual PAYG tax.$314.68×52=$16,363.36\$314.68 \times 52 = \$16,363.36 Jasmine paid $16,363.36\$16,363.36 in PAYG tax for the year.
  3. Calculate After-Tax Income: To find out how much Jasmine earned for the year after tax, we need to calculate her annual gross income and then subtract the annual PAYG tax.\newlineWeekly wage: $1014.65\$1014.65\newlineAnnual gross income = Weekly wage ×\times Number of weeks in a year\newlineCalculation: $1014.65×52\$1014.65 \times 52
  4. Calculate After-Tax Income: To find out how much Jasmine earned for the year after tax, we need to calculate her annual gross income and then subtract the annual PAYG tax.\newlineWeekly wage: $1014.65\$1014.65\newlineAnnual gross income = Weekly wage ×\times Number of weeks in a year\newlineCalculation: $1014.65×52\$1014.65 \times 52Perform the multiplication to find the annual gross income.\newline$1014.65×52=$52,761.80\$1014.65 \times 52 = \$52,761.80\newlineJasmine's annual gross income is $52,761.80\$52,761.80.
  5. Calculate After-Tax Income: To find out how much Jasmine earned for the year after tax, we need to calculate her annual gross income and then subtract the annual PAYG tax.\newlineWeekly wage: $1014.65\$1014.65\newlineAnnual gross income = Weekly wage ×\times Number of weeks in a year\newlineCalculation: $1014.65×52\$1014.65 \times 52Perform the multiplication to find the annual gross income.\newline$1014.65×52=$52,761.80\$1014.65 \times 52 = \$52,761.80\newlineJasmine's annual gross income is $52,761.80\$52,761.80.Now, subtract the annual PAYG tax from the annual gross income to find the after-tax income.\newlineAnnual gross income: $52,761.80\$52,761.80\newlineAnnual PAYG tax: $16,363.36\$16,363.36\newlineAfter-tax income = Annual gross income - Annual PAYG tax\newlineCalculation: $52,761.80$16,363.36\$52,761.80 - \$16,363.36
  6. Calculate After-Tax Income: To find out how much Jasmine earned for the year after tax, we need to calculate her annual gross income and then subtract the annual PAYG tax.\newlineWeekly wage: $1014.65\$1014.65\newlineAnnual gross income = Weekly wage ×\times Number of weeks in a year\newlineCalculation: $1014.65×52\$1014.65 \times 52Perform the multiplication to find the annual gross income.\newline$1014.65×52=$52,761.80\$1014.65 \times 52 = \$52,761.80\newlineJasmine's annual gross income is $52,761.80\$52,761.80.Now, subtract the annual PAYG tax from the annual gross income to find the after-tax income.\newlineAnnual gross income: $52,761.80\$52,761.80\newlineAnnual PAYG tax: $16,363.36\$16,363.36\newlineAfter-tax income = Annual gross income - Annual PAYG tax\newlineCalculation: $52,761.80$16,363.36\$52,761.80 - \$16,363.36Perform the subtraction to find the after-tax income.\newline$52,761.80$16,363.36=$36,398.44\$52,761.80 - \$16,363.36 = \$36,398.44\newlineJasmine earned $36,398.44\$36,398.44 for the year after tax.

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