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Lucas works in Niagara Falls, Ontario and earns $80,000 per year, paid semi-monthly. He is claim code 1. He contributes 5% of his gross salary
Lucas works in Niagara Falls, Ontario and earns $80,000 per year, paid semi-monthly. He is claim code 1. He contributes 5% of his gross salary towards RRSP per pay period and receives a group life non cash taxable benefit of $75.00 per pay period. Please provide salary per pay period, net taxable income, federal income tax and provincial income tax. Please note you must show all work in order to receive a mark.
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