question archive Celine works in Nova Scotia and is paid on a semi-monthly basis
Celine works in Nova Scotia and is paid on a semi-monthly basis
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Celine works in Nova Scotia and is paid on a semi-monthly basis. She has a claim code of 2 on both his TD1 and TD1NS. She has the following type of earnings, benefits & deductions for her current paycheck. She will not max out on CPP or EI this pay and will have full deductions.
- Regular $4000.00
- Overtime $500.00
- Parking – Employer paid Taxable benefit $50.00
- RPP contribution $300.00
- Union Dues $25.00
Calculate Celine’s net pay for this current paycheck by FILLING OUT THE TABLE BELOW AND USING 2019 RATES:
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Taxable income |
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Calculate insurable income |
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Calculate pensionable income |
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Federal tax |
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Provincial tax |
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CPP |
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EI |
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Gross pay |
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Total deductions |
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Net pay |
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Answer:
Celine's wage income $ 4,500.00 (4,000 + Overtime 500)
(+) Parking - Employer paid Taxable benefit $50.00
(-) RPP Contribution = $ 300.00
(-) Union dues = $ 25.00
Taxable income for the pay period $ 4,225.00 (Income - Union dues - Employee contribution to RPP + Parking)
Pensionable earnings for the pay period $ 4,550.00
Federal Tax deduction $ 657.95 (According to the Federal and Nova Scotia provincial tax deductions tables for CC2 - 2019)
Provincial Tax deduction $ 539.17 (According to the Federal and Nova Scotia provincial tax deductions tables for CC2 - 2019)
Canada Pension Plan deduction $ 224.45 (According to the CPP contribution tables - 2019)
EI deductions $ 73.71
.Total deductions $ 1,495.28
Net Payment $ 2,679,72
