payroll fundamentals 1

ASSIGNMENT - PAYROLL FUNDAMENTAL I (10%) Edna Robson is a marketing manager for Blossom Cosmetics in Lethbridge, Alberta. She earns $45,000.00 annually and is paid on a semi-monthly basis. Edna's federal and provincial TD1 claim codes are 3. Blossom Cosmetics provides the following benefits: . Group term life insurance of the two times her annual salary (the premium rate is $0.90 per $1,000.00 of coverage) A company-leased automobile (the company estimates her pay period taxable benefit based on last year's annual taxable benefit of $4,440.00) Calculate Edna's Net Pay. More Hints: Step One: Determine Gross Earnings Step Two: Determine Non-Cash Taxable Benefits Step Three: Determine CPP or QPP contributions (Use 5.25%) Step Four: Determine El premium (Use 1.58%) Step Five: Determine QPIP premium Step Six: Determine federal & provincial tax (Use 2020 deduction tables) Step Seven: Determine Northwest Territories (NT)/Nunavut (NU) Payroll Tax Step Eight: Total Deductions Step Nine: Net Pay