FL10.4 Explore various ways of earning an income.
This Outcome Looks At:
The importance of a social insurance number (SIN).
Payment methods for employees such as wages, salary, commission, tips, and bonuses.
The budgeting implications of different frequencies of pay.
How entrepreneurs earn an income from self-employment.
The advantages and disadvantages of different employment situations.
Pay stubs, including gross pay, net pay, and mandatory and optional deductions.
The impact of overtime on gross and net pay.
The purpose of income tax and the relationship between earning an income and taxation.
A tax return for a simple T4 employment form.
Income associated with treaties.
How to manage a substantial financial gain.