Question: please help for this calculation please 4. Simone works for Successful Business Inc. in Qubec and earns an annual salary of $30,500.00 paid on a

please help for this calculation please please help for this calculation please 4. Simone works for Successful Business

4. Simone works for Successful Business Inc. in Qubec and earns an annual salary of $30,500.00 paid on a semi-monthly basis. In addition to her regular salary, Simone's employer provides group term life insurance coverage through a third party of two times her annual salary. The monthly group term life insurance premiums are $0.48 per $1,000.00 of coverage, excluding taxes. Her employer also provides private health insurance benefits with a monthly premium of $260.00, excluding taxes. The tax on insurance premiums in Qubec is 9%. Her federal TD1 claim code is 2 and her provincial TP-1015.3-V deduction code is B. Simone will not reach the Qubec Pension Plan, Employment Insurance or Qubec Parental Insurance Plan annual maximums this pay period. Calculate the employee's net pay

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!