For 2021,

YMPE = 61,600

YBE = 3500

CPP rate = 5.45% - individual contribution

You will be required to answer the following questions and show your steps for your calculations (you must show the applicable details for each question; for example YMPE = $, YBE = $, Contribution Rate = %): (2 marks each). Assume the year is 2021.

a) Rachel who just turned 28 works for Tech Industries and makes an annual income of $52,000. Calculate total employee and employer contributions.

b) Sasha has been employed with Planters Inc. since 2012. She earned a salary of $85,000 this year. Calculate total employer and employee contributions.

c) Angela's dad had hired her to work part time for his business while she was in grade 8. He had her doing some filing and answering phones over the summer and paid her $22,500. Calculate total employee and employer contributions.

d) Qui had just turned 18 and made $2,495 while going to school. Calculate total employee and employer contributions.

e) Terence is self-employed and made an income of $222,000 this year. Calculate both the employer and employee contribution.

f) Franco has a retirement income of $77,500. Calculate his annual OAS claw back amount.

g) Jessica has a retirement income of $157,000. Calculate her annual claw back amount.

h) Marty has a retirement income of $16,000. Calculate his annual claw back amount.