Becca Harris works for Shallow Inc. in Lethbridge, Alberta. Becca is going to receive a $5,600.00 performance bonus on her next pay for meeting her previous year objectives. The bonus is the first Becca has received this year and will be paid on a separate cheque. Becca claims code 1 on her federal and provincial TD1s. Her regular bi-weekly salary is $ 2,000.00 and she has a group term life insurance non-cash taxable benefit of $16.00 per pay. She will not reach the annual maximums for CPP contributions or EI premiums with this payment.

Use this information to answer questions 3-7. Assume 2020 rates.

Calculate Beccas CPP contribution.

Answer:

Calculate Beccas Employment Insurance Premium

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Using the federal tax tables for an Alberta employee, determine the federal tax to withhold on the entire bonus payment.

Hint: Use the bonus method when calculating income taxes. Look at Example 1 First or once-a-year bonus payment on the Google Doc.

Answer:

Using the provincial tax tables for an Alberta employee, determine the provincial tax to withhold on the entire bonus payment.

Hint: Use the bonus method when calculating income taxes. Look at Example 1 First or once-a-year bonus payment on the Google Doc.

Answer:

Calculate Becca s net bonus payment.

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