Using the additional information on the data tab and the data on the payroll tab, calculate
the estimated total remuneration for EHT purposes from January 1 to December 31, 2020 for
the current and future employees.
Enter the total remuneration.
1 Background: 2 3 You have been contracted to do the payroll for a small software development start-up 4 company in Kanata. You are not an employee but self-employed. The company 5 currently has 3 employees but due to a promissing outlook for its product, it will be hiring 6 5 more employees starting on July 1, 2020. Current employees are Melody Lane, Julie 7 Hamm and Edmund Fox. These employees all work a normal 40 hour work week. The 8 employer retains vacation pay and pays it out when employees take a vacation. No employees are scheduled to take any vacation during April, 2020. 9 B C D E H Facts: Year-to-date amounts for CPP pensionable earnings, CPP, El insurable earnings and El are up to March 31 (Beginning numbers: All employees started working for the company in 2019. No employees have been or will be paid for overtime or any other additional payments other than their regular salary All employees claim the basic personal amount for tax purposes. The only deductions off employees pay are statutory deductions All current and future employees are between the ages of 20 - 60. 4 Melody Lane is paid semi-monthly. She has a company vehicle and the taxable benefit is $434.60 per pay. Julie Hamm is paid bi-weekly. She has been paid 7 times from Jan 1 to Mar 31. Use 26 pay periods in year for PDOC. Julie elects $20 of additional federal income tax deducted per pay. Edmund Fox is paid monthly and works 160 hours per month. 7 28 39 30 31 32 33 34 35 36 37 38 EHT Due to the salary level of the 3 employees, an annual EHT return and payment is currently required. The employer is not associated with any other company. The pensionable earnings are equal to the total remuneration for purposes. Assume that January 1 - March 31 earning will be the same in all other quarters of the year for the employees The employer's January 1 - June 30 payroll only included these 3 current employees. On July 1 the company will hire 5 additional employees that will earn 1.5 times as much as your current employees YTD amount to June 30th, 2020. 1 Background: 2 3 You have been contracted to do the payroll for a small software development start-up 4 company in Kanata. You are not an employee but self-employed. The company 5 currently has 3 employees but due to a promissing outlook for its product, it will be hiring 6 5 more employees starting on July 1, 2020. Current employees are Melody Lane, Julie 7 Hamm and Edmund Fox. These employees all work a normal 40 hour work week. The 8 employer retains vacation pay and pays it out when employees take a vacation. No employees are scheduled to take any vacation during April, 2020. 9 B C D E H Facts: Year-to-date amounts for CPP pensionable earnings, CPP, El insurable earnings and El are up to March 31 (Beginning numbers: All employees started working for the company in 2019. No employees have been or will be paid for overtime or any other additional payments other than their regular salary All employees claim the basic personal amount for tax purposes. The only deductions off employees pay are statutory deductions All current and future employees are between the ages of 20 - 60. 4 Melody Lane is paid semi-monthly. She has a company vehicle and the taxable benefit is $434.60 per pay. Julie Hamm is paid bi-weekly. She has been paid 7 times from Jan 1 to Mar 31. Use 26 pay periods in year for PDOC. Julie elects $20 of additional federal income tax deducted per pay. Edmund Fox is paid monthly and works 160 hours per month. 7 28 39 30 31 32 33 34 35 36 37 38 EHT Due to the salary level of the 3 employees, an annual EHT return and payment is currently required. The employer is not associated with any other company. The pensionable earnings are equal to the total remuneration for purposes. Assume that January 1 - March 31 earning will be the same in all other quarters of the year for the employees The employer's January 1 - June 30 payroll only included these 3 current employees. On July 1 the company will hire 5 additional employees that will earn 1.5 times as much as your current employees YTD amount to June 30th, 2020
