In 2021, let's say your GROSS SALARY is $940.00 every week. You work a total of 50
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In 2021, let's say your GROSS SALARY is $940.00 every week. You work a total of 50 WEEKS for the year. You make an additional $1250.00 for 2021 as a BONUS for working hard (is subject to deductions and tax). It is a one time cheque (add the bonus amount to total gross salary for the year).At the end of the year (2021) you will have DEDUCTIONS EI - 1.03% CPP - 2.76% Federal Tax - ? (IN YOUR NOTES) Provincial Tax - 8.08% Vacation Pay - 4% CALCULATE the total NET SALARY. (NOTE IF THE ANSWER CAN BE OFF BY 0.10 CENTS - IT IS STILL CORRECT) a. $31,462.38 b. $32,920.98 c. NONE of the ANSWERS are CORRECT d. $33,143.38 e. $31,556.38
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