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You will be preparing Source Deduction, WSIB, and EHT Remittances for your employer. WSIB is a quarterly remittance. You have three employees, Fred Smith (a

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You will be preparing Source Deduction, WSIB, and EHT Remittances for your employer. WSIB is a quarterly remittance. You have three employees, Fred Smith (a salesman), Jane Cooper and John Counter (office workers). They all claim the basic exemptions and have year to date CPP and El amounts listed below. Fred Smith Pensionable earnings year to date for March 31, 2020 is $35,000 CPP contributions year to date is $1,653.75 Year to date insurable earnings is $35,000 Amount of El premiums deducted to date is $553.00 Pensionable earnings year to date for March 31, 2020 is $24,355 Jane Cooper CPP contributions year to date is $1,094.89 Year to date insurable earnings is $24,355 Amount of El premiums deducted to date is $384.81 John Counter Pensionable earnings year to date for March 31, 2020 is $10,625 CPP contributions year to date is $374.06 Year to date insurable earnings $10,625 Amount of El premiums deducted to date is $167.88 Your employer has provided you with spreadsheets to assist in completing this work (see file "Assignment 6 Workbook"); The "Source Deductions" spreadsheet in the workbook provides the pay details for the months of April, May and June for each of the above three employees. Use CRA's Payroll Deductions Online Calculator to determine the amount of income tax, CPP and El to withhold from the weekly pay cheques for April to June. For each month, also determine the total amounts withheld and the required source deduction remittance for that month. For example, for the month of April, determine the total amount that must be remitted to CRA by no later than May 15, 2020. The spreadsheet will assist you in determining this total. (Hint: Do not forget to include the employer portion of CPP and Ell) The "WSIB" spreadsheet in the workbook relates to the quarterly WSIB remittance for April to June. The "WSIB" spreadsheet in the workbook relates td the quarterly WSIB remittance for April to June. The WSIB rate is 1.04% for Fred Smith and 1.10% for Jane and John. Complete the WSIB form. For purposes of this assignment, you can ignore the classification columns and focus on the (C) and (D) columns, calculation of premiums for each rate level and total premiums to remit. The "EHT" spreadsheet in the workbook provides an EHT remittance form. Project the amount of EHT that would be payable for the year and complete the annual return. The earnings for January to March have been provided above. The April to June 30th earnings is provided in the Source Deductions spreadsheet. Assume the three (3) current employees will earn the same for the second half of the year. In addition, on July 1st, nine (9) new employees were hired. In determining the earnings for these new employees, you can assume that they will earn proportionately the same for the second half of the year as the current three (3) employees. Project (estimate) the amount of EHT you will have to pay at the end of the year using January 1 to March 31 YTD, the current quarter, and the new employees. You are wondering if your company should submit monthly EHT payments instead of annual payments. If you must remit monthly statements, fill in the form with the monthly information for July. If you must remit yearly, use your projected numbers to fill in the EHT form. Your employer is not associated with any other company. Be sure to show your work (ex. all EHT earnings calculations) in the Excel spreadsheet in order to earn full marks

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