Laura is 17 years old. She works for Gibson Catering in Alberta and earns an annual salary of$53, 650.00 paid on a weekly basis. She receives a $85.00 car allowance each pay. Thecompany pays 100% of group term life insurance premiums for its employees as a non-cash taxable benefit which for Laura's is $29.00 per pay period. Laura is a member of thecompany's registered pension plan and contributes 4% of her salary to the plan every pay.Her federal and Alberta TDI claim codes are 1. Determine Laura's total income taxdeduction per pay period.

Income includes salary, capital gain, earning from business or profession and income from other…

Answered: Determine Laura's total income tax

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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