B 2 3 Federal Taxes Tax brackets and rates 4 Federal Tax rates for 2022 Tax year: Tax Rate 5 6 15% 7 20.5% Taxable Annual Income $50,197, and $50,198 up to $100,392, and $100,393 up to $155,625 and $155,625 up to $221,708 and 8 26% 9 29% 33% $221,709 and up 10 11 12 13 14 Pay period Semi-monthly 15 # of periods/year 24 + 16 17 18 19 20 21 22 23 24 D E F G H J K M Emp1 Emp2 Emp3 Emp4 Emp5 Annual salary Tax bracket Each pay period # of pay periods This pay period Amount ($) in each tax category Allocation to each bracket 50,197 1 2,092 50,195 2 2,091 55,233 3 2,301 66,083 4 2,753 to calculate based on income 5 to calculate Tax amount calculation Bracket 1 2 3 4 5 Total 123 A B Provincial Taxes Tax brackets and rates 4 Ontario Tax rates for 2022 Tax year: 5 Tax Rate 6 5.05% 7 9.15% 8 11.16% 9 12.16% Taxable Annual Income First $46,226 and $46,227 up to $92,454 and $92,455 up to $150,000, and $150,001 up to $220,000, and $220,001 and up 13.16% 10 11 12 13 14 15 Pay period Semi-monthly 16 # of periods/year 24 17 18 19 20 21 22 23 24 D E F G H Empl Emp2 Annual salary # of pay periods Amount ($) in each tax category Tax bracket Each pay period This pay period Tax bracket Allocation to each bracket 46,226 1 1,926.08 46,227 2 1,926.13 87,545 3 3,647.71 69,999 4 2,916.63 to calculate based on income 5 to calculate Tax amount calculation Bracket + Grading Rubric REQ 1 Fed tax calc Prov tax calc REQ 2 CPP El REQ 3 Net Pay Calculation REQ 4 Ready 83F Mostly clear Total 1 2 3 545 M Emp3 Emp4 Emp5 ENG IN 12:03 AM 9/28/2022 613 B E F G H Basic Exemption CPP amt. - CPP amt. Employee Annual Salary This pay period CPP maxed 1 this pay period employee employer 2 Emp 1 3 Emp 2 4 Emp 3 5 Emp 4 6 Emp 5 Data Rate CPP employee CPP employer 5.70% 5.70% Annual pay periods Basic exemption - Annual Basic exemption this pay period 24 3,500 145.83 7 8 Total 0 0 9 Sept 1-15 61,600.00 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Grading Rubric REQ 1 Fed tax calc Prov tax calc REQ 2 CPP El REQ 3 Net Pay Calculation REQ 4 Ready 83F ENG IN K M 12:03 AM 9/28/2022 4 120% K L M Marks 3 3 3 24 3 A D El amt. Employee Annual Salary This pay period El maxed 1 employee F El amt. 2 Emp 1 3 Emp 2 4 Emp 3 5 Emp 4 H Data employer Rate El employee 1.58% 1.4 times emploee El employer contribution% Annual pay periods 6 Emp 5 7 B 0 9 10 11 12 13 14 15 16 17 18 19 20 21 222 23 24 Grading Rubric Fed tax calc REQ 1 REQ 2 Prov tax calc CPP E REQ 3 Net Pay Calculation REQ 4 Ready 83F Mostly clear E 15 ENG 12:0 IN 9/28 C D E F G H Prov Tax CPP El Net Pay Marks E10 1 Employee 2 Emp 1 A fx Gross B earnings this Fed tax pay period 3 Emp 2 4 Emp 3 5 Emp 4 6 Emp 5 7 8 Total 9 10 11 12 13 14 15 16 17 18 19 20 21 22 33 4 > Grading Rubric REQ 1 Fed tax calc Prov tax calc REQ 2 CPP REQ 3 Net Pay Calculation REQ 4 4 Ready 83F Mostly clear 2 2 2 2 2 10 K M N C ENG IN B C D E LL F Gross Employee 1 earnings this CPP-emp El-emp pay period Payroll Cost 2 Emp 1 3 Emp 2 4 Emp 3 5 Emp 4 6 Emp 5 7 8 Total 10 11 12 13 14 15 16 17 18 19 89 G H K L Marks 1 1 1 5 3 15 Students to fill in the area A B C D E F 9 H 1 1 Benefit name Cost Total Reason Marks 2 345 3 mmmm 3 3 3 10 61895 7 11 12 13 44 23 14 19 20 21 56789222 15 16 17 18