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Understanding Net Income and Deductions for Grade 11 Workplace Math

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.

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Understanding Net Income and Deductions for Grade 11 Workplace Math

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  1. Approximating Net Income Grade 11 Workplace math

  2. Warmup CRA Reading Tables Net Income Agenda

  3. Please complete warm-up on page 42. Warm-up

  4. 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

  5. Canadian Revenue Agency http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/t4032/jn10/menu-eng.html Reading Ei & CPP Tables

  6. ______ Income = ________ Income - _________ The amount of deductions from someone's pay depends largely on____________. In general, the more money that you earn,_______________. Net income

  7. Deductions

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