Question: - Calculate the CPP contributions and the amount to be remitted to the CRA ( list all the steps ) . a - Sharon receives
Calculate the CPP contributions and the amount to be remitted to the CRA list all the steps
a Sharon receives a weekly salary of $ and $ in taxable benefits. Calculate the amount of
CPP contributions that Sharon and her employer must pay on a weekly basis
b Carol works days per week, hours per day and her hourly wage is $ and gets paid every
week. Calculate the amount of CPP contributions that Carol and her employer must pay on a
weekly basis
c Maria Carbone receives a semimonthly salary of $ Calculate the amount of CPP
contributions that Carlo and her employer must pay on a semimonthly basis
d Bicycles Inc. makes a monthly salary payment of $ to Toni Fletcher. Calculate the
amount of CPP contribution that Bicycles Inc. & Toni pay monthly
PAY PERIOD
TYPE
YEAR BASIC
EXEMPTION
NUMBER OF
PAYS PER YEAR
PAY PERIOD
EXEMPTION
Weekly $ $
Weekly $ $
BiWeekly $ $
BiWeekly $ $
Semimonthly $ $
Monthly $ $
Please follow the following steps
Step : Calculate the basic payperiod exemption.
Step : Calculate the total pensionable income.
Step : Deduct the basic payperiod exemption from the total pensionable income.
Step : Calculate the amount of CPP contributions.
Step : Calculate the amount of CPP contributions you must pay.
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