Canadian Payroll Compliance Legislation Exam Practice With Complete Solution
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Course
Payroll
Institution
Payroll
Canadian Payroll Compliance Legislation
Exam Practice With Complete Solution
The Personal Tax Credits Return - TD1 (Federal) is completed by an employee who: - - has a new
employer or payer and is receiving salary, wages, commissions or any other remuneration
- wishes to increase the amount ...
Canadian Payroll Compliance Legislation Exam Practice With Complete Solution The Personal Tax Credits Return - TD1 (Federal) is completed by an employee who: - - has a new employer or payer and is receiving salary, wages, commissions or any other remuneration - wishes to increase the amount of income tax deducted at source - wishes to claim the deduction for living in a prescribed zone - has changes in the personal tax credit amounts previously claimed on a TD1 The information on the TD1 is used by the employer or payer to: - Determine the amount of federal and provincial/territorial income tax to deduct from an individual's employment income or other income such as pension income. The Worksheet for the Personal Tax Credits Return - TD1-WS is used to calculate partial claim amounts on the TD1 for: - - age - caregiver - infirm dependant age 18 or older In what situations would an employee complete the federal Worksheet for the Personal Tax Credits Return - TD1-WS? - To calculate partial claim amounts for age, caregiver and/or infirm dependant age 18 or older. When does the claim code on the employee's federal TD1 have to match the claim code on the provincial/territorial TD1 - When a non -resident employee has a claim code of 0 on their federal TD1. Applicable provincial/territorial tax rate: the employee works at the employer's premises - The province/territory where the premises is located. Applicable provincial/territorial tax rate: the employee does not work at the employer's premises - The province/territory of the employer's office from which the employee is paid
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