Question
Michelle Roy works for Affordable Transport in Qubec and earns an annual salary of $49,500.00 paid on a bi-weekly basis. In addition to her regular
Michelle Roy works for Affordable Transport in Qubec and earns an annual salary of $49,500.00 paid on a bi-weekly basis. In addition to her regular salary, Michelle's employer provides group term life insurance coverage through a third party of two times her annual salary. The monthly group term life insurance premiums are $0.57 per $1,000.00 of coverage, excluding taxes. Her employer also provides private health insurance benefits with a monthly premium of $240.00, excluding taxes. The tax on insurance premiums in Qubec is 9%. Her federal TD1 claim code is 3 and her provincial TP-1015.3-V deduction code is C. Michelle will not reach the Qubec Pension Plan, Employment Insurance or Qubec Parental Insurance Plan annual maximums this pay period.
Calculate the employees net pay, following the order of the steps in the net pay template.
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