Question
) Buddy LeFranc is a 42 year old employee in Ontario. He is paid an annual salary of $54,000 on a bi-weekly basis, and vacation
) Buddy LeFranc is a 42 year old employee in Ontario. He is paid an annual salary of $54,000 on a bi-weekly basis, and vacation at 6% is accrued. In addition to the salary he receives a car allowance of $300.00 per month. On the first pay of 2020 he also receives a $120.00 safety glasses allowance. Deductions for Buddy include $35 per month for United Way, $10 per pay for the Sunshine Club, 4% of salary for a Registered Retirement Savings Plan, and 20% of net pay for a family support garnishment. The Canada Revenue Agency has provided us a letter authorizing a $110 per pay reduction from gross taxable income. Buddys TD1 codes are 2 for Federal and Ontario purposes.
Calculate net pay for the first pay cycle of 2020. This is a full pay period.
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