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Assignment Tasks: Your business should be your name and you are in the dairy business. You have two employees: John Murphy: he is 40 years
Assignment Tasks:
Your business should be your name and you are in the dairy business. You have two employees:
- John Murphy: he is 40 years old and is married to a partner that has no income. He earns $3,600, semi-monthly. He is employed in the Province of Ontario.
- Jane Robinson: she is 28 years old and single. She earns a salary of $1,000, semi-monthly. Her expected commission income for 2019 is $70,000 and her 2018 expenses against her commission income was $22,455. She is also employed in the Province of Ontario.
Required:
- Prepare a TD1 for John and a TD1X for Jane. You can ignore the employees SIN # and addresses.
- Go to CRAs payroll calculator and calculate the net pay and all deductions for January 15, 2019.
- Based on their two annualized incomes, calculate the amount of WSIB that the company would be required to remit for the year.
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