Assignment 4 - Tax form Filing - 10%

This assignment relates to the following Course Learning Requirements:

CLR 1: Maintain payroll records for organizations

CLR 3: Calculate pay for various types of employees

CLR 5: Compile and produce statutory filing documents as required by various stakeholders.

Objective of this Assignment:

To assess the learner's knowledge of how to complete year-end tax forms.

Pre-Assignment Instructions:

Read the module 12 content and follow the embedded learning activities

Read chapter 12 of the textbook

Review CRA T4 documentation

Assignment Tasks:

Review the following earnings and deductions and determine where (or if) they should be reported on the T4. Note it's possible that some items will be recorded in more than one box

A: Regular $73,000

Vacation Pay $5,000

Group Life - Employer paid Taxable benefit $650

Employee RRSP contribution $3900

Employee Coffee Fund contribution $130

B: Regular $48,000.00

Overtime $3000.00

Parking - Employer paid Taxable benefit $600.00

Employee RPP contribution $3600.00

Employee Union Dues contribution $300.00

The table below lists the maximum assessable / insurable earnings for workers compensation for each province and territory for the latest five years available. Some values are preliminary and subject to change.

	2017	2018	2019	2020	2021	2022
Newfoundland and Labrador	$63,420	$64,375	$65,600	$66,980	$67,985	$69,005
Prince Edward Island	$52,800	$53,400	$55,000	$55,300	$55,300	$58,300
Nova Scotia	$59,300	$59,800	$60,900	$62,000	$64,500	$69,000
New Brunswick	$62,700	$63,600	$64,800	$66,200	$67,100	$69,200
Qubec	$72,500	$74,000	$76,500	$78,500	$83,500	$88,000
Ontario	$88,500	$90,300	$92,600	$95,400	$97,308	$100,422
Manitoba	$127,000	$127,000	$127,000	$127,000	$127,000	$150,000
Saskatchewan	$76,086	$82,627	$88,314	$88,906	$91,100	$94,440
Alberta	$98,700	$98,700	$98,700	$98,700	$98,700	$98,700
British Columbia	$81,900	$82,700	$84,800	$87,100	$100,000	$108,400
Yukon	$85,601	$86,971	$89,145	$90,750	$91,930	$94,320
Northwest Territories and Nunavut	$90,600	$90,600	$92,400	$94,500	$97,300	$102,200