(2) CPP = 5.7% (3) EI = 1.58% much salary will be your net salary or take home salary? much be total burden on the company? w much will Govt. income on this?
(2) CPP = 5.7% (3) EI = 1.58% much salary will be your net salary or take home salary? much be total burden on the company? w much will Govt. income on this?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![You gets a gross salary of 10,000 a month
3 major deductions in Canada = (1) Income Tax, (2) CPP, (3) EI
(1) Income tax (Federal + Province rate) = assume at 30%
(2) CPP = 5.7%
(3) EI = 1.58%
(1) How much salary will be your net salary or take home salary?
(2) How much be total burden on the company?
(3) How much will Govt. income on this?
?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd0c27c45-7e59-4119-992e-dd38a6ca70e6%2Ffb0afbd5-c67c-4ca3-8ecf-8cd1bd695417%2F2uycv2n_processed.jpeg&w=3840&q=75)
Transcribed Image Text:You gets a gross salary of 10,000 a month
3 major deductions in Canada = (1) Income Tax, (2) CPP, (3) EI
(1) Income tax (Federal + Province rate) = assume at 30%
(2) CPP = 5.7%
(3) EI = 1.58%
(1) How much salary will be your net salary or take home salary?
(2) How much be total burden on the company?
(3) How much will Govt. income on this?
?
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