Question
Amy Dion works in Alberta and earns $75,390.90 a year, which is paid on a semi- monthly basis. Amy is over the age of 18,
Amy Dion works in Alberta and earns $75,390.90 a year, which is paid on a semi- monthly basis. Amy is over the age of 18, under the age of 70, and not in receipt of
benefits from either the Canada or Qubec Pension Plans. Amy is claiming Code 3 on her federal and provincial TD1 forms. Amy participates in the company's group Registered Retirement Savings Plan (RRSP), to which she contributes $250.00 each pay. She also contributes $25.00 each pay for coverage in the company's dental plan. The employee has a non-cash taxable benefit for group term life insurance of $36.75 per pay.
Calculate the following withholdings, showing all calculations for full marks: - 8 marks
a) Canada Pension Plan (CPP) contribution:
b) Employment Insurance (EI) premium:
c) Net taxable income:
d) Federal and provincial income tax deductions:
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