Payroll Semi-Monthly Claim Code for Federal and Ontario ONE Deduction from Taxable income NONE Salary from Jan to June $36,000/yr or $1,500 per pay Salary from July to Dec $48,000/yr or $2,000 per pay ERRORIIL Salary from Jan to Dec should have been: $48,000/yr or $2,000 per pay For Linda's next payroll or the corrected, July 15 the payroll, what is the Total Retroactive Pay only_AND the Total Income Tax on this total paycheque only? Please choose the best and most accurate answer. O Gross Pay is, $2,000 Total Income Tax on the this total Paycheque only is, $1,188 Gross Pay is, $8,000 Total Income Tax on the this total Paycheque only is, $1,272 Gross Pay is, $6,000 Total Income Tax on the this total Paycheque only is, $1,460 Gross Pay is, $6,000 Total Income Tax on the this total Paycheque only is, $272 ABC Company started their business on July 1, this year. ABC Company had two employees this year. Jane and Larry. The payroll is run semi-monthly. Larry estimates that his net income, this year. will be $10,000 for TD-1 purposes. Assume Jane and Larry work the entire period from July 1 to December 31, this year, or 6 month. The following payroll data was provided for Jane and Larry: Jane(40 yrs. old) Larry(75 yrs. Old and Disabled) Annual Salary $24,000 $48,000 Claim Codes Fed. 4 Prov. 5 To determine Spouse 60 years old Estimated Net Income: $50,000 No Children No Children Tuition $2,000, Seneca Part Time 4 months. Estimated, $5,000 per year Private Pension Income from Sun Life Assurance. (Pension Income) $50 per pay Registered Pension Plan (RPP) Deduction $50 per pay Tuition $2,000, Seneca Part Time 4 months. Estimated, $5,000 per year Private Pension Income from Sun Life Assurance. (Pension Income) $50 per pay $50 per pay Registered Pension Plan (RPP) Deduction Please calculate the Ontario Claim Amount and Claim Code for Larry this year? Claim Code is 8 Claim Amount is $27,123 O Claim Code is 8 Claim Amount is $27,231 O Claim Code is 8 Claim Amount is $25,582 O Claim Code is 7 Claim Amount is $26,123