Consumer 30S Feb.11, 2009

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Information about Consumer 30S Feb.11, 2009
Education

Published on February 11, 2009

Author: nmalan

Source: slideshare.net

Description

Payroll Deductions

PAYROLL  DEDUCTIONS

RECALL: GROSS PAY:  pay before deductions NET PAY:  pay after deductions ,;

IN CANADA, IF YOU MAKE OVER A CERTAIN  AMOUNT OF ANNUAL INCOME, THERE ARE  THREE MANDATORY DEDUCTIONS...

OTHER COMMON DEDUCTIONS ARE...

EX Your gross pay for one week is $464.   Your deductions are: parking: $6.80 and  dental: $2.75.  What is your net pay, if    you have a claim code (# of dependants  living with you) of 2?

The government CAN NOT make you pay taxes  (federal & provincial) if you contribute to an  RRSP / RPP or pay UNION DUES.

EX You make $2200 monthly.  Your  deductions are as follows: dental: $6.50, life insurance: $15.00,  RRSP: $60.00, union dues: $120.00 What is your net pay if you have a child  living with you? 3. ­

HOMEWORK pg.6; #3,6,9­12,15­21

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