Careers Exam Year 9 S1T2 2025

Salary

Regular and predicable income

Debt

Money owed to another

Fraud

Deceptive act involving money

Tax Free Threshold

Income you can earn before paying tax

Junior employee (fair work)

Anyone under 21

TFN

Tax File Number

Police Services

Funded by the State Government

Deduction examples

Tax, superannuation, union fees

ATM

Automatic Teller Machine

Appreciation

A rise in value

Gross Pay

Total before deductions

Net Pay

Take home pay after deductions

Credit Card

Borrow money; repay later (may include interest)

Debit Card

Uses your own money from your bank account

Superannuation

Retirement savings you can’t access until you retire. It’s in a seperate account also.

Asset

Something of value you own

Annual Fee

Yearly cost of having a credit card

Direct Deposit

Pay deposited into your bank account

Mortgage

Long-term loan for property

Loan

Borrowed money to be repaid

Budget

Spending plan for income and expenses

Asset examples

Stocks, shares, bonds, property, business, crypto, etc

Local tax usage

Garbage disposal, sporting fields, parks, libraries, kerbs and gutters

State/Territory tax usage

Water, hospitals, education, transport, police

National tax usage

Social security/welfare, defence, immigration/border protection, national infrastructure (transport and communication), tertiary education and research, non-government schools, trade/industry support, extra money for state and local government budgets