Question
Rachel McAdams an employee earns $55,000 per year and is paid on a semi-monthly pay schedule. The employee enjoys the benefit of a company paid
Rachel McAdams an employee earns $55,000 per year and is paid on a semi-monthly pay
schedule. The employee enjoys the benefit of a company paid cell phone for personal use
(cost is $150 per month) and receives 6% vacation pay on each payment. This pay cycle
included 15 hours of approved overtime worked over the normal 40 hour work week and a
reimbursement for travel expenses in the amount of $434.20. The employee contributes 5%
of their regular wages to a Registered Retirement Savings Plan each pay cycle.
Calculate the net pay for this employee. Be sure to list all of the deductions from the
employee's pay for this pay cycle. (Note: if you do not have access to the PDOC assume
Federal Tax deduction = $394.90 and Provincial Tax deduction = $191.45)
Based on 2019 rates and T4032 tables.
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