Question
Dilpreet works for CTY, a company in Ontario and is paid $4300 biweekly. He contributes 7% of his gross earnings to a Registered Retirement Savings
Dilpreet works for CTY, a company in Ontario and is paid $4300 biweekly. He contributes 7% of his gross earnings to a Registered Retirement Savings Plan each pay. He pays $92 per month for union dues and receives a group term life insurance non-cash taxable benefit of $390 each month. His employer also paid for counselling services worth $416 a month (non-cash). Each pay Dilpreet contributes $8.00 to United Way. His federal and provincial TD1 claim codes are 1 and he will not reach the annual maximums for Canada Pension Plan or Employment Insurance with this payment. Use 2021 rates.
Calculate Dilpreets net pay. Make sure to use the CRA payroll deduction tables to determine federal and provincial income taxes. Round to two decimal places and do not include commas (,) or the $ sign.
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