Payroll Exercise 2

Calculate net pay for an employee in Quebec the has regular earnings and taxable Step Seven benefits. Us the Payroll template below: Marc Potvin is an accounts payable administrator for a large retail clothing chain in Quebec. Step Eight He earns $33,000.00 annually, paid bi-weekly. Marc's TD1 claim code is 1 and his TP1015.3-V deduction code is A. As part of the 100% employer-paid benefit package, Marc has group term life insurance Step Nine Coverage of two times his annual salary. The company pays $0.85 per $1,000 of coverage For the group term life insurance coverage Each administrative staff member receives an employer-paid parking spot at head office, Step Ten Located in downtown Montreal, where the fair market value of parking in the vicinity is $250.00 per month, plus tax. Parking benefits are assessed on a pay period basis. Marc Receives a taxable car allowance of $75.00 per pay for using his own automobile for Business purposes. Template for Calculating net pay Step One- Step Two Step Three Step Four Step Five Step Six