Question
Sally works for Nikko Enterprises and earns $990 bi-weekly. She has just received a 2% pay increase, effective this current pay period. In addition, Sally
Sally works for Nikko Enterprises and earns $990 bi-weekly. She has just received a 2% pay increase, effective this current pay period. In addition, Sally is entitled to five weeks vacation pay, which is paid each pay period.
Each pay, Sally also receives a group medical benefit of $40, which is shared 50/50 with her employer. She also receives an annual group term life insurance benefit of $1,250. Both plan values include applicable sales tax.
In addition, the following are other deductions from Sallys pay, each bi-weekly period; $12 for union dues, $28 for a company loan repayment and $7 toward an employee social fund.
Assume income taxes are calculated at a combined rate of 18%.
Required:
1) Determine Sallys Net Pay for one bi-weekly pay period, and
2) What is the amount owing to the CRA for statutory deductions (PD7A)
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