Question
You have just joined the payroll department as the newest Payroll Administrator. Everyone else on the team has been there for a number of years,
You have just joined the payroll department as the newest Payroll Administrator. Everyone else on the team has been there for a number of years, so the Payroll Manager is excited to have a fresh pair of eyes. The Payroll Manager has assigned the following task to you to help you become more familiar with the company.
She would like you to review all the pay codes set up in the payroll system to ensure the correct taxes are being applied.
Enter a Yes or No under each column to determine if it is taxable, pensionable and/or insurable. Each code will be worth 1 mark, there will be no partial marks awarded.
Tax CPP Mark /1 /1 /1 /1 /1 Pay Code Car allowances ($500 paid each month through payroll to eligible employees) Partial reimbursement of cell phone bills (employee owned phones used for business) Taxable benefits for company cars (non- job related vehicles) Gift valued at $300 awarded for work anniversary gifts Group term life insurance policies employer-paid premiums non-cash Meals reimbursements for business travel Parking - scramble parking available to all staff Parking allowances ($200 paid each month to eligible employees) RRSP contributions (no employer match, employees eligible to withdraw at any time) Training provided onsite for all employees on policy related issues Total marks /1 /1 /1 /1 /1 /10Step by Step Solution
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