Anne Massy works for Liberty Promotions in Nunavut and is provided with a company-leased automobile.
The automobile was in Anne's possession for 365 days. Of the 34,134 kilometres driven, 15,805 kilometres were for business purposes. The monthly lease cost of the vehicle was $198.60, excluding GST calculated at
5%. Anne requested in writing that Liberty Promotions use the optional operating cost method if all conditions apply. She did not reimburse the company for any of the expenses associated with the automobile.
Calculate Anne's annual automobile taxable benefit.

Phan was employed fromMarch 1, 1992throughJanuary 10, 2007. He was not a member of the organization' s pension plan. Calculate the number of years eligible for the$1,500.00portion of a retiring allowance.

Helen is reimbursed for the cost of the protective clothing that is legally required for her job. The clothing she bought isnot supported by receiptsand is a reasonable reimbursement amount. This is considered:

Matt earns $10.10 per hour and works 37.5 hours per week. Calculate Matt's regular bi-weekly earnings.

PF1 Exam - Net Pay Calculation (Template Worksheet)
Scenario
Diane Lemay works for Monarch Construction in Alberta and earns an annual salary of $49,500.00, paid on a semi-monthly basis.
The company provides its employees with group term life insurance coverage of two times annual salary and pays a monthly premium of $0.62 per $1,000.00 of coverage.
Diane uses her car to meet with clients on company business and receives a taxable car allowance of $50.00 per pay.
The company has a defined contribution pension plan to which Diane contributes 5% of her salary each pay.
Diane also contributes $20.00 to United Way and has $5.00 deducted for her social club membership each pay. She belongs to a union and pays 2% of her salary in union dues per pay period.
Diane's federal and provincial TD1 claim codes are 1. She will not reach the first Canada Pension Plan or Employment Insurance annual maximums this pay period.
Required: Calculate the employee's net pay, following the order of the steps in the net pay template.
EXHIBIT A - Net Pay Template (Fill in all blanks)

STATUTORY DEDUCTIONS

OTHER DEDUCTIONS


Given Data (Reference)

Step 1 - Calculate the employee's gross taxable earnings (GTE) for this pay.
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Step 2 - Calculate the pensionable earnings (PE).
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Step 3 - Calculate the insurable earnings (IE).
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Step 4 - Calculate the net taxable income (CRA) (NTI).
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Step 5 - Calculate the net taxable income (RQ) (NTI).
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Step 6 - Calculate Diane's Canada Pension Plan contribution.
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Step 7 - Calculate Diane's Employment Insurance premium.
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Step 8 - Calculate Diane's Quebec Parental Insurance Plan premium.
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Step 9 - Determine Diane's federal income tax.
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Step 10 - Determine Diane's provincial income tax.
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Step 11 - Calculate Diane's total deductions (statutory + other).
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Step 12 - Calculate Diane's net pay.
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