26. In the following scenario, complete the chart by calculating the employee's Canada Pension Plan...
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26. In the following scenario, complete the chart by calculating • the employee's Canada Pension Plan contribution • the employer's Canada Pension Plan contribution the employee's Employment Insurance premium the employer's Employment Insurance premium (at the reduced rate of 1.248) If no contributions are required, state the reason(s) Show all calculations for full marks - 8 marks Scenario: Tanya Smith works variable hours as a mechanic in Whitehorse, Yukon. She is paid bi- weekly every other Friday. She was born June 1, 1950 and is in receipt of a monthly retirement pension from the Canada Pension Plan; an award letter is on file. The employer has a wage-loss replacement program in place and has a reduced Employment Insurance rate of 1.248. Tanya's gross pays in September and October 2013 are outlined in the following chart: Pay Date: Gross Pay Employee's Canada Pension Plan Contribution Employer's Canada Pension Plan Contribution Employee's Employment Insurance Premium Employer's Employment Insurance Premium Sept. 6 $1,450.00 Sept. 20 $1,350.00 Oct. 4 $1,550.00 Oct. 18 $1,250.00 26. In the following scenario, complete the chart by calculating • the employee's Canada Pension Plan contribution • the employer's Canada Pension Plan contribution the employee's Employment Insurance premium the employer's Employment Insurance premium (at the reduced rate of 1.248) If no contributions are required, state the reason(s) Show all calculations for full marks - 8 marks Scenario: Tanya Smith works variable hours as a mechanic in Whitehorse, Yukon. She is paid bi- weekly every other Friday. She was born June 1, 1950 and is in receipt of a monthly retirement pension from the Canada Pension Plan; an award letter is on file. The employer has a wage-loss replacement program in place and has a reduced Employment Insurance rate of 1.248. Tanya's gross pays in September and October 2013 are outlined in the following chart: Pay Date: Gross Pay Employee's Canada Pension Plan Contribution Employer's Canada Pension Plan Contribution Employee's Employment Insurance Premium Employer's Employment Insurance Premium Sept. 6 $1,450.00 Sept. 20 $1,350.00 Oct. 4 $1,550.00 Oct. 18 $1,250.00
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To calculate the employee and employer contributions for the Canada Pension Plan CPP and Employment ... View the full answer
Related Book For
Income Tax Fundamentals 2019
ISBN: 9781337703062
37th Edition
Authors: Gerald E. Whittenburg, Steven Gill
Posted Date:
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