A 30-year old Alberta employee earns $2,58500 bi-weekly Each pay period, he has noncash taxable benefit of
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A 30-year old Alberta employee earns $2,58500 bi-weekly
Each pay period, he has noncash taxable benefit of $47.50, pays union dues of $30.00, and contributes 4% of his earnings to a registered company pension plan.
His federal and provincial TD1 forms indicate a claim code of 2.
He is not in receipt of benefits from the Canada or Qubec Pension Plan.
To date he has had $773.40 in Canada Pension Plan contributions and $561.20 in Employment Insurance premiums deducted.
Calculate the following, showing all calculations for full marks
a) Canada Pension Plan (CPP) contribution
b) Employment Insurance (EID premium
c) Income tax
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