Question
Groupe Alimentaires is preparing the 2018 year-end information slips for their employees. Claire had worked for the company in their Montreal, Qubec office from October
Groupe Alimentaires is preparing the 2018 year-end information slips for their employees. Claire had worked for the company in their Montreal, Qubec office from October 1987 until her employment was terminated in November, 2018. Upon termination of employment, Claire received a retiring allowance of $56,000.00, which was paid to her at her request.
Calculate the federal and Qubec income taxes withheld on the retiring allowance, and include them, as required, when completing Claires RL-1 slip. The income taxes shown in the table do not include the taxes withheld on the retiring allowance.
Complete the boxes on Claires RL-1 slip based on the information provided.
Item | Amount |
Regular earnings | $80,000.00 |
Bonus pay | $17,000.00 |
Retiring Allowance | $56,000.00 |
Wages in lieu of notice | $12,950.00 |
Vacation pay | $6,286.00 |
QPP contributions | $$2,829.60 |
EI premiums | $$672.10 |
QPIP premiums | $$405.52 |
Federal income tax | $18,359.84 |
Quebec income tax | $24,479.78 |
EI insurable earnings | $51,700.00 |
QPIP insurable earnings | $$74,000.00 |
QPP pensionable earnings | $$55,900.00 |
Accidental death and dismemberment non-cash taxable benefit | $168.75 |
Charitable donations | $775.00 |
Automobile non-cash taxable benefit | $3,036.81 |
Group term life insurance non-cash taxable benefit | $1,217.50 |
Private health insurance non-cash taxable benefit | $1,739.85 |
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