Income Flashcards
Withdrew Cash FROM Bank
Bank⛔️Cash
To get the bill
➖ ✖️ ➕
Subtract present from previous meter reading
Multiply rate per unit
Add the standing charge
Lodge cash to bank
Cash⛔️Bank
Statutory Deductions
Money taken by law
PAYE ~ maintains hospitals, roads, schools
PRSI ~ jobseeker benefit,maternity,sickness
USC
Employer
The person who is doing the employing
Employee
The person who is being employed
Voluntary Deductions
Money an employee chooses to be taken VHI Pension Charities Unions Savings
Net Pay
(Take-home pay)
Gross Wage - deductions
Gross Wage
The amount an employee gets paid in total
Benefit in kind
Any non-money rewards
Unemployed :
Medical Card, Free travel, Electricity allowance,TV license
Employed:
Company Car, staff discount, medical insurance, accommodation
2 Types of Income
Regular and irregular
Regular Income
Money you receive periodically
Wages
Salary
Child benefit
Job Seeker’s Allowance
Irregular Income
Money you MAY receive (additional income)
Overtime
Bonus
Inheritance
Winnings
No refunds
Not allowed
