Question
Jane is an Ontario employee. Her life insurance coverage through her employers group plan is 2 times her annual salary of $45,780.00. Her employer pays
Jane is an Ontario employee. Her life insurance coverage through her employers group plan is 2 times her annual salary of $45,780.00. Her employer pays the insurer 50% of the cost of her life insurance coverage at a premium rate of $1.50 per $1,000.00 (rounded) of coverage per month. Calculate Donnas monthly taxable benefit. 10 5-The following information is for an Alberta employee, Joanne. She is employed as a Sales rep and is paid on bi-weekly basis (80 hours). Her regular rate is $21.00 per hour. Additionally, each month she is getting $250.00 for car allowance and each pay $20.00 non-taxable clothing allowance to compensate her for wear and cleaning of her clothes. The employer provides group term life insurance for each employee and the premium for Jeanette is $90.00 per month. Joanne contributes $25.00 per pay for union dues. Also, she authorized the employer to deduct $7.50 per pay for the United way. She has completed a TD 1 and is claiming only the basic exemption for both federal & provincial. (Code 1) For this pay period she worked 80 hours at regular rate plus 4 hours of overtime at time and a half. With this pay, she will not reach CPP or EI maximum. Calculate her net pay for the current year (using template)
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