Gross vs Net Income Worksheet

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📚 Part 1: Concepts & Quick Checks

1. Which best describes gross income?

The amount earned before any tax or deductions are taken.

The amount left after tax and other deductions.

Only the money paid into savings.

2. Check all that are commonly deducted from gross pay to get net pay:

PAYE (income tax)

KiwiSaver employee contributions

Rent for an apartment (personal expense)

Student loan repayments (when applicable)

3. You earn $1,200 gross per week. PAYE is 15% and KiwiSaver employee contribution is 3% of gross. Calculate your weekly net pay.

4. Monthly gross salary $4,000. Deductions: income tax 18%, KiwiSaver 3%, plus a fixed student loan repayment of $50. Find the monthly net income.

5. Your take-home (net) pay is $880 after 12% PAYE tax. What was your gross pay?

6. You earned $650 gross. Deductions: PAYE 10% and KiwiSaver $20 (fixed). Calculate your net pay.

7. Annual salary $52,000. Deductions: PAYE 17.5% and KiwiSaver 3% of gross. Calculate the annual net income.

8. A contractor must receive $3,200 net after a flat 20% tax. What gross amount should they charge?

9. Fortnightly gross pay $2,500. Deductions: PAYE 18% and union fees $100 per fortnight. Calculate the fortnightly net pay.

10. Create your own example:

a) Write a gross amount and list deductions (percentages and/or fixed amounts):

b) Show your calculation and state the net pay: