Lesson 2 - Earning money 2
Introduction
In this lesson you will:
learn about penalty rates and allowances
calculate incomes using penalty rates and allowances
learn about annual leave and leave loading
calculate annual leave income including leave loading.
Overview for Lesson 1 (Part A and B)
Duration: 5:08
Watch this video in full screen.
Note: This is the same video from Lesson 1A.
Activity 3 - Penalty rates and allowances
Employees often get a higher pay rate when working:
weekends
public holiday
overtime
late night shifts
early shifts
Allowances are extra payments made to employees who:
do certain tasks or have a particular skill
use their own tools at work
work in unpleasant or dangerous conditions.
Source: Fairwork Ombudsman website
Task 1
Watch the video to learn about penalty rates and allowances and see examples of how we calculate these.
Week 8 Lesson 2 Overtime and Allowances
Duration: 7:57
Stop watching at 7.16 seconds.
Task 2
Use the interactive below to learn how to calculate the pay of people with a full-time job that includes different hourly rates of pay and an allowance. After the scenario you will complete some similar problems.
Activity 2 - Holiday leave loading (annual leave)
Annual leave (also known as holiday pay) allows an employee to be paid while having time off from work.
Full-time and part-time employees get 4 weeks of annual leave, based on their ordinary hours of work.
Most industries pay a 17.5% loading on top of your normal pay during these 4 weeks.
Source: Fairwork Ombudsman website
Watch the following 2 videos
Complete the interactive to practise calculating annual leave income.
How annual leave works
Duration: 1:26
Regular Incomes (2 of 2: Example questions)
Duration: 7:54
Activities too easy?
Note: These tasks can either be done in Lesson 1A or Lesson 1B.
Task 1 - How do Australian families compare to other families around the world?
Access the following websites to compare the income levels of different families across the world.
Select 2 different families from two different countries on the dollar-street website, who earn a similar level of income and read further information into their lives.
In your exercise book or folder answer the following questions:
What do you notice about how they live and what their income affords them?
What do you wonder about how they live and what their income affords them?
Task 2 - The Game of Life
If you have access to the board game Game of Life, you can play a game and spend some time in the beginning converting player’s salaries into different time periods, such as yearly to monthly and weekly. This board game covers earning money and budgeting.
Handing in your work
Don't forget to hand in the work you completed today!
Your teacher will have told you to do one of the following:
Upload any digital documents you created and any photos you took of your written work to your Learning Management system (MS Teams, Google Classroom for example).
Email any digital documents you created and any photos you took of your written work to your teacher.
Make sure you keep any hand written work you did in your exercise book or folder as your teacher may need to see these when you are back in class.