Helen works for Jefferson Movers in Alberta and earns an annual salary of $44,742.00paid on a bi-weekly basis. She contributes 2% of her gross earnings to a RegisteredRetirement Savings Plan each pay. Helen pays $37.00 bi-weekly for union dues andreceives a group term life insurance non-cash taxable benefit of $26.00 each pay. Herfederal and provincial TD1 claim codes are 3 and she will not reach the annualmaximums for Canada Pension Plan or Employment Insurance with this payment.Calculate Helen's net pay, following the steps in the payroll calculation template.Gross Taxable Earnings (GTE)Pensionable Earnings (PE)Insurable Earnings (IE)Net Taxable Income (CRA) (NTI)Net Taxable Income (RO) (NTI)Statutory DeductionsC/QPP contributionEl premiumOPIP premiumIncome tax (federal)Income tax (provincial)Other DeductionsUnion dues

Solution:-Payroll calculation is a crucial aspect of a company's day-to-day activities. It includes…

Answered: Helen works for Jefferson Movers in…

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter4: Income Exclusions

Section: Chapter Questions

Problem 49P

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Similar questions

Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys net self-employment income is also 136,000. Calculate the Social Security and self-employment taxes paid by Darrell and Whitney. Write a letter to Whitney in which you state how much she will have to pay in Social Security and self-employment taxes and why she owes those amounts.
Linda is an employee of JRH Corporation. Which of the following would be included in Lindas gross income? a. Premiums paid by JRH Corporation for a group term life insurance policy for 50,000 of coverage for Linda. b. 1,000 of tuition paid by JRH Corporation to State University for Lindas masters degree program. c. A 2,000 trip given to Linda by JRH Corporation for meeting sales goals. d. 1,200 paid by JRH Corporation for an annual parking pass for Linda.
Tia is married and is employed by Carrera Auto Parts. In 2019, Carrera established high-deductible health insurance for all its employees. The plan has a 2,700 deductible for married taxpayers. Carrera also contributes 5 percent of each employees salary to a Health Savings Account. Tias salary is 30,000 in 2019 and 32,000 in 2020. Tia makes the maximum allowable contribution to her HSA in 2019 and 2020. She received 600 from the HSA for her 2019 medical expenses. In 2020, she spends 1,400 on medical expenses from her HSA. The MSA earns 28 in 2019 and 46 in 2020. a. What is the effect of the HSA transactions on Tias adjusted gross income? b. How much does Tia have in her HSA account at the end of 2020?
Helen works for Jefferson Movers in Alberta and earns an annual salary of $49,086.00 paid on a biweekly basiis. She contributes 5% of her gross earnings to a Registered Retirement Savings Plan each pay. Helen pays $31.00 bi-weekly for union dues and receives a group term life insurance noncash taxable benefit of $29.00 each pay. Her federal and provincial TD1 claim codes are 1 and she will not reach the annual maximums for Canada Pension Plan or Employment Insurance with this payment. Calculate Helen's net pay, following the steps in the payroll calculation template.
Ee.64.
Martina works for a company in Edmonton, Alberta. She earns $30.84 per hour, works 40 hours per pay period and is paid on a weekly basis. The company pays 100% of group term life insurance premiums for its employees as a non-cash taxable benefit which for Martina is $27.00 per pay period. Every pay period Martina also contributes 2% of her salary to the company's Registered Retirement Saving Plan and pays $20.00 in union dues. Her federal and provincial TD1 claim codes are 1. Determine Martina's total income tax deduction per pay period. Your answer:
Dianne works for a company located in Pierrefonds, Québec. She earns an annual salary of $53,274.00 and is paid on a semi-monthly basis. Her company pays 100% of the premiums for its employees' group term life insurance coverage. The premiums the company pays for Dianne's coverage are a non-cash taxable benefit of $32.00 per pay. Dianne participates in the company's group Registered Retirement Savings Plan and contributes 5% of her salary to the plan every pay. She also pays $28.00 in union dues each pay. Her Québec deduction code is C. Determine Dianne's provincial income tax deduction per pay period. Your answer:
France works fora company located in Pierrefonds, Québec. She earns an annual salary of $46,750.00 and is paid on a bi weekly basis. Her company pays 100% of the premiums for its employees' group term life insurance coverage. The premiums the company pays for France's coverage are a non-cash taxable benefit of $24.00 per pay. France participates in the company's group Registered Retirement Savings Plan and contributes 5% of her salary to the plan every pay. She also pays $25.00 in union dues each pay. Her Québec deduction code is C. Determine France's provincial income tax deduction per pay period. Your answer
Aa.55.
Melanie works for a large manufacturing company in Ontario. She earns an annual salary of $48,500.00 which is paid on a weekly basis. In addition to her regular pay, Melanie's group life insurance taxable benefit is $25.00 per pay. Melanie receives a car allowance of $200.00 per pay and Melanie contributes 5% of her base salary to her RRSP. Calculate her gross pensionable earnings (GPE) this pay. Calculate her gross insurable earnings (GIE) this pay. A Calculate her Net Taxable Income this pay. Calculate her Federal Income Tax Deduction this pay. She is claim code 1.
SCENARIO Christine works for Marian Transport in Québec and is paid $920.25 weekly. Her employer provides group term life insurance coverage and pays 100% of the premiums for Christine's coverage. This non-cash taxable benefit is $20.00 per pay. She contributes 3% of her gross earnings to the company's Registered Pension an each pay and pan $23.00 weekly for union dues. Her federal TD1 claim code is 1 and her provincial TP-1015.3-V deduction code is A. Christine will not reach the Québec Pension Pan, Employmen Insurance or Québec Parental Insurance Plan annual maximums this pay period. Calculate Christine's net pay, following the steps in the payroll calculation tem Activate Wind
Mary works for Liberty Productions in Alberta and earns an annual salary of $53,650.00 paid on a semi-monthly basis. She receives a $80.00 car allowance each pay. The company pays 100 % of group term life insurance premiums for its employees as a non-cash taxable benefit which for Mary's is $24.00 per pay period. Mary is a member of the company's registered pension plan and contributes 3% of her salary to the plan every pay. Her federal and Alberta TD1 claim codes are 3. Determine Mary's total income tax deduction per pay period. Your answer:

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