Canada-Net Pay Calculations

7/21/2019 Canada-Net Pay Calculations

1/20


2/20

alculation

thori1e) e)ctions

RRP% 33+

334+

nion )esC3 tori1e) e)ctions

Other e)ctions

36 thori1e) )e)ctions

Total 0.00

CPP Contribution

C++ 3ate CPP Total CPP Remmit

0.0%75 2##5.$7 0&.* 20'.&2

EI

EI

Em+loyee Portion &2.,0 Total EIE"ploer +ortion 5'.22 0.52

Federal tax

tax table ,#&.*0 Total IT !eduction"

Pro. Tax 5,$.0

x table *,.&0

0


3/20

Net Pay Calculation - Allowances and Benefits-a"i"

nnual alary 58200.00 2&

+a perio) Earnings 2200.00

Car llowances 2&00.00

Grop li9e insrance taxable beneft

ro"" Income &$00.00 CPP Contribu

Pen"ionable Income &$00.00 Ex"p C++ 3ate

#$%. 0.0%75

In"urable Income #0$.00

EI Rate

0.0#'' Em+loye

#.% E"ploe

(e)eral Tax %'00.00 T! Table Fed

+ro,incial Tax %'00.00 T! Table Proi

Total !eduction" $&.$*

Net Pay ,'$5.,


4/20

tion

CPP Total CPP Remmit%&&5.$7 2,0.'& .$*

I

EI

Portion ,0.2, Total EIr +ortion &2.,2 *2.55,

,*5.25

*$.&5


5/20

rou+ Term /ie In"urance Plan"The 9ollowing 9or"la calclates the e"ploee:s "onthl ta


6/20

xable beneft;


7/20

1uebec Net Pay CalGross Earnings

Earnings %20

Taxable allowances

Non-taxable allawances

Cash Taxable benefts 0

Other/Vacation pa 0.00

Total Gross Earnings %20

Non- cash Taxable !enefts

Non Cash taxable benefts 28.70

Total Non Cash taxable benefts

6+

%%8.70 Ex"p

#$%.

E 3ate

%20.00 0.0#5$

6++6++ 3TE

0.00557

0.008'2

(e)eral * +ro,iancial nco"e Tax

Net nsrable Earnings %20

Net Taxable nco"e


8/20

ulation

thori1e) e)ctions

33+ 0.00

0.02 334+ 0.00

nion )es 0.00

C3 tori1e) e)ctions 0.00

Other e)ctions 0.00

36 thori1e) )e)ctions 0.00

Total 0.00

+ Contribtion

6++ 3ate 1PP Total Remmit

0.05#85 $#$.27 #.2 32.43

EI

#.&,

1PIP

E"ploee +ortion 2.,5 Total QPIP

E"ploer +ortion ,.2$ 5.63

Federal tax

le /clai" co)e *0.05 Total IT Deductions1ubec Tax 395.21

le /clai" co)e an) co)e 225.#


9/20

Net Pay Calculation - Qubec - Allowances a

nnal 4alar $%'00 2&

+a perio) #$$'.%&

Car llowance 0

GT= #$8.00 #2 2&+3VTE >E=T> $#7.00 #2 2&

( ro"" icome ,,$.Exce"ption

+ +ensionable inco" #5%'.72 #$%. #%#%.$#

nsrable inco"e #$$'.%&

1PIP #$$'.%&

COE 4 Federal tax #%0#.&7 ,&.#5

COE 4 Proincial tax #5%'.72 22.##

Total deduction. &&$.

Net Pay $'0.00


10/20

d Benefits

&$.2$#%8.2$

1PP 5.#'? *,.'

EI #.5$? 20.&$

1PIP 0.5&? *.&$


11/20

Par3in4

Co"tT1T

Cost ,00.00

G4T 0.05 5.00

64T 0.07785 2'.',

+ar@ing !eneft ,&&.',

Pay Period -ene6t+ar@ing !eneft $%%.7$

Aonths #2 5'.20+a +erio)s 2&


12/20

Calculating Bonus Tax

!ons &'&0.00 annal spa perio) 9reBenc 2& pa perio) 9

+a +erio) !ons #70.00 +a +erio)

Net pa perio) bons a"ont ,'0.00 Net +a +eri

Federal Tax *#.&0 Federa

Proiancial Tax $5.&0 Proiancipa perio) 9reBenc 2#

Total Federal Income Tax &0.20

Total Proiancial Tax $.$5

Total income tax on t7e bonu" +ayment


13/20

alar ,200.00eBenc 2&

4alar #200.00

) 4alar 200.00

Tax ,#.20

al Tax ##.55

#0%5.20

%70.#0

5,5.,0


14/20

Directors' Feesirectors (ee 5500.00

nnal C++ Ex"p $500.00

+a +erio)s &

C++ +a perio) '85.00

nnal C++ 3ateC++ Contribtion %&25.00 0.0%75

C++ Contribtion 22$.'&

Note; 9 Barterl &9 4e"i 2


15/20


16/20

etroacti!e "nco#e Tax Calculation

Increa"ed alary 5$0.00 Fed. TaxPro. Tax

/a+" o +ay +eriod 5 retroactie tax

alary ,00.00 Fed.TaxPro. Tax

Re4 Pay Tax

Fed. Taxe" di8erence .%5

Pro. Tax di8erence 2'.75

Total Tax


17/20

2#2.80

#0#.#0

,,.$0

#5#.25

82.#5

22,.&0

Altipl

$08.25

#%%.85

&52.00

*#5.$0


18/20

etroacti!e "ncreasencre. ?

Original 4alar *50.00 &.50?ncrease) ,.*5

ncrease) 4alar $#,.*5

0.00+a +erio)s

retroacti,e pa"ent 25.25

4ro"" earnin4" or t7e next +ay +eriod ,5.00


19/20

$u#%-&u# Pay#ents for Deat Benefits

19E-EC

eath !eneft 2&00.00Exe"ption 0000.00

Taxable mount &00.004ee Table 9or ?

Fedral Tax 1uebec Tax

#0.00? &0 20.00? 22$0

Total Tax ,&20.00

NON- 6ebec

eath !eneft 2500.00

Exe"ption 0000.00

Taxable mount 500.004ee Table 9or ?

Fed : Pro Tax

20.00?

Total Tax 2,00.00


20/20

Documents

Canada-Net Pay Calculations