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Tech Y., a British Columbia employer, reviews the employees' salaries on an annual basis, with any changes being effective for the first payment of the
Tech Y., a British Columbia employer, reviews the employees' salaries on an annual basis, with any changes being effective for the first payment of the year. The paperwork authorizing payroll to make the changes was received by the payroll manager in April, and the changes were input on the 14th pay of the year. Tech Y pays on a weekly basis. Carlos Mena's increase was calculated to be $45.00 per pay; his previous weekly salary was $1200.00. Carlos' TD1 federal and provincial TD1 claim codes are code 1. Carlos has a weekly group term life taxable benefit of $15.00. Carlos will receive his retroactive increase on the same pay as his regular salary. Use this information to answer questions 14-19. Use 2022 rates. Calculate Carlos' gross earnings for the 14th payment, Answer: Calculate Carlos' CPP contribution. Answer: Calculate Carlos' employment insurance premium. Using the CRA Payroll Deductions tables, determine the federal income tax to withhold on the employee's pay. Hint: Use the bonus method and recall that there are 13 pay periods that have passed. His 14th (current) pay period should reflect the pay increase. Answer: Using the GRA Payroll Deductions tables, determine the provincial income tax to withhold on the employee's pay. Hint: Use the bonus method and recall that there are 13 pay periods that have passed. His 14th (current) pay period should reflect the pay increase. Answer: Calculate Carlo's net pay on the 14th payment
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