The following amounts were withheld from employees' pay cheques during the current statutory deduction remittance period: Québec Pension Plan contributions of $2,700.00, Employment Insurance premiums of $835.00, Québec Parental Insurance Plan premiums of $205.00, federal income tax of $8,725.00 and Québec provincial income tax of $7,800.00. This employer does not quality for a reduced Employment Insurance rate. Calculate the total amount that must be remitted to the Canada Revenue Agency for the current remittance period.

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The following employees of CIBA Ironworks in Bristol, Illinois, are paid in different frequencies. Some employees have union dues or garnishments deducted from their pay. Required: Calculate their net pay using the percentage method in ARpendix C (or the IRS federal income tax assistant or IRS Publication 15-T). Include Illinols income tax of 4.95 percent of taxable pay. No employee has exceeded the maximum FICA limits. You do not need to complete the number of hours. There is no information for Step 4 and all W-4s were received in 2020. No box was checked in Step 2. (Round your Intermediate calculations and final answers to 2 decimal places.) Union Dues Garnishment Filing Status, Dependents Pay per Period per Period Net Pay Employee Frequency 780 2$ 50 MJ-0 C. Whaley F. Paguaga K. Harvey Weekly 2,940 $ 120 Semi-monthly Monthly Biweekly MJ-2 (<17) S-1 (Other) 7,450 $ 240 $ 75 100 MJ-0 2,640 L. Bolling

1) Review the following situations and determine the employee's net pay by figuring out what earnings & benefits are subject to Income Tax, Canada/ Quebec Pension Plan, Quebec Parental Insurance Plan (if applicable) and Employment insurance. Make sure to reduce net and taxable income by any applicable voluntary/non statutory deductions as well. All rates should be based on 2022. a) Lawrence works in Alberta and is paid on a bi-weekly basis. He has a claim code of 1 on both his TD1 and TD1AB. He has the following type of earnings, benefits & deductions. He will not max out on CPP or El this pay and will have full deductions. 1) Regular $2,500 ii) Vacation Pay $500 iii) Group Life-Employer paid Taxable benefit $25 iv) RRSP contribution-Employee deduction $300 v) Coffee Fund $5

The following information is noted on the year end payroll register for an employee employed with a Québec employer: Regular earnings $85,000.00, vacation pay $3,800.00, taxable car allowance $630.00, non-cash taxable benefit for group term life insurance $169.00 and a non-eligible retiring allowance of $15,000.00. Calculate the amount that would be reported in Box I of the RL-1?

Find the employer’s FICA deduction for each of the following employees. Find the amounts of the FUTA taxes for the current pay period for each of the following employees. Decimals for categories SS-0.062, Medicare-0.0145, (FUTA-0.0006 -$7000Cap) Show work Employees Year-to-Date Current Gross Social Security (0.062) Medicare (0.0145) Subject to FUTA (0.006) FUTA F. Todd $6959.28 $1088.64         T. Stanley $7,882.51 $827.44

The maternity leave pay under RA 11210, otherwise known as the 105-Day Expanded Maternity Leave Law, shall be:  a) Exempt from tax b) Subject to graduated income tax rate c) Subject to fringe benefit tax d) The actual cash benefit from SSS is exempt while the salary differential shouldered by the employer shall be treated as compensation income subject to graduated income tax rate.

Identify all correct statements concerning payrolls andrelated payroll costs.a. Both employers and employees pay Social Security andMedicare taxes.b. Workers’ compensation premiums are withheld fromemployees’ wages.c. An employer’s total payroll costs usually exceed totalwages expense by about 71⁄2 percent.d. Under current law, employers are required to pay SocialSecurity taxes on employees’ earnings, but they are notrequired to pay for health insurance.

If Form 941-V is utilized, the amount shown on line 2 of the form must agree with the amount displayed on which line of Form 941? a. 10 b.11 C. 12 d.14 2. Under which condition is an employer NOT required to file a quarterly Form 941? a.annual tax liability for federal income tax, Social Security, & Medicare tax is less than $1,000 b.annual tax liability for federal income tax, Social Security, & Medicare tax is less than $1,500 c. total annual tax liability is less than $2,500 d.total annual tax liability is less than $100,000 Employers pay a higher FUTA tax rate in states that are subject to a credit reduction. True False

1. Which of the following items is normally NOT assessable under salaries tax? a. Payment in lieu of notice to an employee who has been dismissed without adequate notice given by the employer.   b. Tuition fee paid by an employer for an employee's children, where the employer has entered into the relevant contract with the school directly.   c. Reimbursement of medical expenses of an employee by an employer pursuant to the terms provided in the employment contract.   d. Lump sum payment to a resigning employee in consideration of his not engaging in the same industry for two years.   2. Henry Ltd is carrying on business in Hong Kong. It acquires funding from various sources in Hong Kong and makes investment in securities listed in overseas markets. Henry Ltd's directors carry out investment analysis in Hong Kong and instruct its overseas agents to execute the orders of purchase and sale in the overseas stock exchange. During the year 2020/21, $10 million profits were derived from…