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| Section | Objectives |
|---|---|
| Employment Income – Regular Earnings | - Regular payroll calculations
|
| Commission Payments | - Commission payroll processing
|
| Provincial Remittances | - Provincial payroll requirements
|
| New Employee Information | - Employee setup and documentation
|
| Workers’ Compensation | - Workers compensation administration
|
| Record of Employment | - ROE processing
|
| Year-End Processing | - Federal and provincial year-end reporting
|
| Payroll Accounting | - Payroll accounting practices
|
| Termination of Employment | - Termination processing
|
| Federal Remittances | - Government remittance obligations
|
| Employment Income – Allowances, Expenses and Benefits | - Taxable and non-taxable benefits
|
| Non-Regular Payments | - Special payroll payments
|
| Non-Statutory Deductions | - Voluntary deductions
|
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NEW QUESTION # 63
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.
Answer: B
Explanation:
The special$1,500transfer eligibility connected to retiring allowances is based specifically onyears (or part- years) of service before 1989where the employee hadno vested employer pension/DPSP benefitsfor those years. CRA explains that, in addition to the $2,000-per-year pre-1996 rule, you can also transfer an additional
$1,500 for each year or part-year before 1989that meets the vesting condition.
Phan's employment began in1992, which isafter 1989. Because he haszeroservice before 1989, there areno years that can qualify for the $1,500 portion-regardless of whether he belonged to a pension plan.
Therefore, the number of eligible years for the$1,500component is0(option A). Payroll must base this calculation on actual service dates, including any related-employer service if applicable, but here the start date alone makes the $1,500 portion ineligible.
NEW QUESTION # 64
Which of the following is not correct?
Answer: A
Explanation:
Option A is not correct. Service Canada's ROE guidance for paper ROEs explains that if you need to complete Block 15C, you do that first, and then you still enter the total insurable earnings in Block 15B. It also reminds employers to include any insurable separation payments entered in Block 17 in both Block 15C (Pay Period 1) and Block 15B totals.
Option C is correct because retiring allowances (often treated as severance-type amounts) are not insurable, so even if they appear in Block 17C, they are not added to Blocks 15B/15C.
Option D is correct because vacation pay paid on separation is reported in Block 17A, and when it is insurable, it must be included in the insurable earnings totals in Block 15B (and Block 15C P.P.1 where applicable).
NEW QUESTION # 65
Benefits are:
Answer: B
Explanation:
In Canadian payroll, a benefit generally means the employer has provided something of value to the employee (or paid for something on the employee's behalf), rather than paying cash for work performed. The CRA's Employers' Guide - Taxable Benefits and Allowances (T4130)explains that a benefit/allowance may be provided in cash (for example, an allowance) or in a manner other than cash (for example, a parking space or gift), and that employers may have to include the value of that benefit/allowance in the employee's income depending on the circumstances.
Option C best captures this "value of something provided or paid for" concept. Option B describes wages
/salary (earnings for work). Option A aligns more with reimbursements/expense coverage. Option D aligns with allowances for business use of personal property (often treated separately and may be taxable or non- taxable depending on CRA rules and documentation). Payroll's role is to determine whether the benefit is taxable, value it correctly, and apply the right statutory withholdings and reporting.
NEW QUESTION # 66
The capital cost of an employer-owned vehicle includes:
Answer: C
Explanation:
For CRA automobile benefit purposes (standby charge on an employer-owned automobile), the "cost" used is the capital cost, which includes more than just the sticker price. CRA guidance states the cost includes the trade-in amount (if applicable), additions, and GST/HST and PST as part of the cost base used in the standby charge calculation.
Option D is the best match because it includes vehicle options/accessories, sales taxes, and additions that add to depreciation value. Importantly, CRA also notes that certain specialized equipment added to meet the requirements of a disabled person or employment (examples include heavy-duty suspension and power winches) is not considered part of the automobile's cost for standby charge purposes. This directly rules out options A and C, since they treat specialized equipment as part of capital cost. Option B is incorrect because CRA includes sales taxes (GST/HST and PST) in the cost base.
NEW QUESTION # 67
Ursula is 17 years old, works in Quebec and earns $750.00 weekly. Ursula pays weekly union dues of $18.00 along with a special weekly union assessment of $10.00 for construction of a new union hall for its members.
Ursula also has registered pension plan (RPP) contributions of $20.00 deducted from each pay. Calculate Ursula's net federal taxable income.
Answer:
Explanation:
$712.00
Explanation:
For payroll income tax purposes, net taxable income starts with the employee's gross taxable income and then subtracts only those deductions that are deductible for income tax and can be recognized at source. CRA payroll guidance shows this approach by subtracting items such as RPP contributions and union dues when determining net taxable income for calculating income tax deductions.
Gross taxable income (weekly): $750.00.
RPP contributions are deductible (the amounts reported from box 20 of the T4 are generally deductible).
Regular union dues are deductible; however, the CRA states that deductible annual union/professional dues do not include special assessments or charges for anything other than ordinary operating costs. A levy specifically for constructing a new union hall is a special assessment, so it is not deductible as union dues.
So the deductions that reduce federal taxable income here are: $18.00 (union dues) + $20.00 (RPP) = $38.00.
Net federal taxable income = $750.00 # $38.00 = $712.00.
NEW QUESTION # 68
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