Assignment 2 Insurable, Pensionable and Taxable Earnings 10%

This assignment relates to the following Course Learning Requirements:

CLR 2: Describe Canadian federal and provincial labour and employment standards as they apply to employers.

CLR 3: Calculate pay for various types of employees

Objective of this Assignment:

To assess the learners knowledge of what earnings are subject to which statutory deductions and how to calculate those deductions.

To assess the learners ability to research applicable rates to use for the calculations

Pre-Assignment Instructions:

1. Read the module 5 content and follow the embedded learning activities
2. Read chapter 4 of the textbook
3. Navigate to the respective CRA website and review their taxable benefits documentation
4. Navigate to the Service Canada and Province of Quebec website to obtain the 2023 rates for CPP/QPP and EI.

Assignment Tasks:

1. Review the following situations and determine what earnings & benefits are subject to Canada / Quebec Pension Plan and Employment insurance. After you have determined the pensionable and insurable earnings calculate the CPP/QPP and EI employee deductions.
2. You do not need to calculate the employer portion of CPP, QPP and EI.
3. IMPORTANT show all calculations and clearly label: pensionable earnings; insurable earnings; CPP deduction, QPP deduction; and EI deduction.
4. Use rates from 2023 to determine your calculations. Only the earnings provided for each pay period should be included in your calculations. You do not need to calculate vacation or any other amounts.

1. Jane works in Ontario and is paid on a bi-weekly basis. She has the following type of earnings & benefits. Determine which are pensionable and insurable and then calculate the CPP and EI deductions.
   1. Regular $1,800

1. Vacation Payout $500
2. Night Shift Premium $50
3. Group Life Employer paid Taxable benefit $15

1. Lane works in Quebec and is paid on a semi-monthly basis. He has the following types of earnings & benefits. Determine which are pensionable and insurable and then calculate the CPP and EI deductions.

1. Statutory Holiday Pay $200
2. Regular $1650
3. Employer paid Parking $50

1. Tim works in Nova Scotia and is paid on a monthly basis. He is receiving a separate special payment (in addition to his 12 pays in the year) for a long service award. He is receiving an amount of $500 cash and he has not received a long service aware for 5 years. Determine which are pensionable and insurable and then calculate the CPP and EI deductions.

• Include a cover page with the course code and course name, the assignment number, the title of your assignment, your student ID, your name, the instructors name, and the date the assignment is created.
• Font should be either Calibri or Arial, 11pt. Text must be double spaced but table may be single spaced.
• You must cite all your sources of information using APA formatting.
• Create a separate reference page that lists all of your sources that you have cited in text. Sources include software used. Also, personal communications from a professional in the field count as a reference source. For citation and referencing examples, see https://owl.purdue.edu/owl/research_and_citation/apa_style/apa_formatting_and_style_guide/general_format.html

Assignment Grading Rubric

1. 4 Points

1 point Pensionable Amount

1 point Insurable Amount

1 point CPP deduction

1 point EI Deduction

1. 4 Points

1 point Pensionable Amount

1 point Insurable Amount

1 point QPP deduction

1 point EI Deduction

1. 2 Point

0.5 points Pensionable Amount

0.5 points Insurable Amount

0.5 points CPP deduction

0.5 points EI Deduction