Calculating tax - PowerPoint PPT Presentation

Financial Literacy Scheme

www.thebeeprogramme.com. Session 2: Introducing the World of Work. Financial Literacy Scheme. LO1 : Work well in groups to complete the Money Quiz LO2 : Understand what taxes are and calculate the amount of tax paid LO3 : Recall key words and negotiate your own contract. Money Quiz!.

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Calculating Tax and Discounts.

Calculating Tax and Discounts. What is Sales Tax in our province. HST is 13% HST stands for Harmonized sales tax We add 13% to most goods purchased in stores. Example. A sweater costs $34.99. What is the after tax cost? $34.99 x 0.13 = 4.55 After tax price is $34.99+4.55 = $39.54.

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CALCULATING TAX

CALCULATING TAX. DEFINITION:. A sum of money demanded by government for its support or specific facilities or services, levied upon incomes, property sales. Example/Drawing/formula. Price: $70.00 Tax is 6%: .06 Tax: $4.20 Total = $74.20 (70.00 + 4.20). Question:.

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