Question
Joanne Leblanc works for Blossom Cosmetics in Alberta and is paid an annual salary of $55,766.00 on a bi-weekly basis. Earlier this year Joanne received
Joanne Leblanc works for Blossom Cosmetics in Alberta and is paid an annual salary of $55,766.00 on a bi-weekly basis. Earlier this year Joanne received a performance bonus of $3,225.00. She was recently awarded a $5,300.00 bonus for her process improvement suggestions which will be paid separately from her regular pay. Her federal and provincial TD1 claim codes are 3 and she will not reach the annual maximums for Canada Pension Plan or Employment Insurance with this payment.
Calculate the employee's net second bonus, following the order of the steps in the net pay template.
calculate:
gross earnings
1.pensionable earnings
2.insurable earnings
3.net taxable income
4.employees canada pension plan contributions on the bonus payment
5.employee's employment insurance premium on the bonus payment
6.employee's quebec parental insurance plan premium on the bonus payment
7.employee's federal income tax on the bonus payment
8.employee's provincial income tax on the bonus payment
9.calculate the total deduction
10.employee's net second bonus
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