Mary is self employed and her income for 2019 was $70,000 (when YMPE was $57,400). Required: What
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Question:
Mary is self employed and her income for 2019 was $70,000 (when YMPE was $57,400).
Required:
What are her contributory earnings for CPP?
What is the amount of her CPP contribution for 2019?
What are tax implications of her contribution as a self employed individual?
If she decides to retire at the age of 62 what percentage of CPP pension would she receive?
Mary and her husband are married for 15 years, and she is working for 20 years, and her husband is working for 30 years. If Mary's CPP pension per month is $600 and her husband's is $800, how much would each receive through pension splitting?
Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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