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Payroll Fundamentals Final Exam Latest Update graded A+
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Liana works in Québec and earns $750.00 weekly. Liana pays union dues of $11.00 each pay and a special union assessment of $9.00 for the new union hall being built. Liana is also required to pay a $40.00 initiation fee this pay for her new membership in the union. She also contributes $25.00 from...

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  • August 24, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
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  • payroll fundamentals
  • latest update graded a
  • payroll fundamentals final exam

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  • Payroll Fundamentals

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Payroll Fundamentals Final Exam Key

CHAPTER 5

Liana works in Québec and earns $750.00 weekly. Liana pays union dues of $11.00 each pay and a
special union assessment of $9.00 for the new union hall being built. Liana is also required to pay
a $40.00 initiation fee this pay for her new membership in the union. She also contributes $25.00 from
each pay into her Registered Retirement Savings Plan. Calculate Liana's net provincial taxable income.

$725.00

Which of the following employer-paid premiums results in a non-cash taxable benefit to employees in all
provinces?

Group term life insurance premiums

Sandra works in Manitoba for an employer who provides all employees with an option to purchase
additional life insurance coverage at a monthly rate of $0.29 per $1,000.00 of insurance coverage.
Sandra has enrolled for $175,000.00 of coverage. Calculate Sandra's weekly payroll deduction.
Manitoba sales tax is 7%. The optional coverage amount of $175,000.00 multiplied by the premium rate
of $0.29 divided by $1,000.00 and then multiplied by 1.07 which equals the monthly premium
of $54.30.
Multiply the monthly premium by 12 months to yield an annual premium of $651.63. Divide the annual
premium by 52 pay periods to get the weekly deduction of $12.53.

Which government body would issue a Garnishment Order?

Ministry or Department of Justice, Attorney or Solicitor General, Ministry of Community and Social
Services (through small claims courts)

Employee payroll deductions under a Requirement to Pay are remitted by the employer to:

Receiver General for Canada

Natasha works in Saskatchewan and earns $1,650.00 bi-weekly. Natasha pays bi-weekly union dues
of $8.00 along with a special bi-weekly union assessment of $25.00 for construction of a new union hall
for its members. Natasha also has registered pension plan contributions of $54.00 deducted from each
pay. Calculate Natasha's net federal bi-weekly taxable income. Natasha's net federal taxable income will
be the total of her regular earnings of $1,650.00 less her union dues of $8.00 less her registered pension
plan contribution of $54.00 = $1,588.00. The deduction for the special union assessment does not
reduce her taxable income.

Which legal deduction would be taken first against an employee with multiple orders?

Requirement to Pay




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