Question: Assignment Tasks: Your business should be your name and you are in the dairy business. You have two employees: John Murphy: he is 40 years

Assignment Tasks:

Your business should be your name and you are in the dairy business. You have two employees:

  1. John Murphy: he is 40 years old and is married to a partner that has no income. He earns $3,600, semi-monthly. He is employed in the Province of Ontario.
  2. Jane Robinson: she is 28 years old and single. She earns a salary of $1,000, semi-monthly. Her expected commission income for 2019 is $70,000 and her 2018 expenses against her commission income was $22,455. She is also employed in the Province of Ontario.

Required:

  1. Prepare a TD1 for John and a TD1X for Jane. You can ignore the employees SIN # and addresses.
  2. Go to CRAs payroll calculator and calculate the net pay and all deductions for January 15, 2019.
  3. Based on their two annualized incomes, calculate the amount of WSIB that the company would be required to remit for the year.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!