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| Section | Objectives |
|---|---|
| New Employee Information | - Employee setup and documentation
|
| Record of Employment | - ROE processing
|
| Employment Income – Regular Earnings | - Regular payroll calculations
|
| Federal Remittances | - Government remittance obligations
|
| Termination of Employment | - Termination processing
|
| Payroll Accounting | - Payroll accounting practices
|
| Non-Statutory Deductions | - Voluntary deductions
|
| Non-Regular Payments | - Special payroll payments
|
| Year-End Processing | - Federal and provincial year-end reporting
|
| Commission Payments | - Commission payroll processing
|
| Workers’ Compensation | - Workers compensation administration
|
| Employment Income – Allowances, Expenses and Benefits | - Taxable and non-taxable benefits
|
| Provincial Remittances | - Provincial payroll requirements
|
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NEW QUESTION # 21
Which of the following is not correct?
Answer: B
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 # 22
Which pension plan requires the services of an actuary to study and forecast future needs of the plan to ensure the plan remains sufficiently funded to provide employees with their retirement benefits?
Answer: D
NEW QUESTION # 23
What information is required to calculate thestandby charge, thereduced standby charge, and theoperating cost benefitfor a company-owned automobile?
Answer: A
Explanation:
CRA's automobile benefit calculations require multiple data points because there are usuallytwo components thestandby charge(vehicle availability) and theoperating expense benefit(personal driving where the employer pays operating costs). CRA's guidance on employer-provided automobiles explains that standby charge calculations use the automobile'scost (capital cost) including applicable taxesand the time the vehicle wasavailableto the employee, while the reduced standby charge and operating benefit depend on kilometres drivenand the split betweenbusiness and personal use.
To determine whether areduced standby chargeapplies, you need availability plusbusiness-use requirements(which are evidenced through total/business kilometres). To calculate the operating expense benefit, you needpersonal kilometres(often derived from total kilometres minus business kilometres) or detailed personal km directly.
Therefore, the complete and correct set of required inputs is:capital cost (with sales tax), availability, total kilometres, business kilometres, and personal kilometres-which is optionD.
NEW QUESTION # 24
An organization pays the premiums for a sickness or accident plan for their president only. This would be considered:
Answer: A
Explanation:
Because the plan is for the president only, it is a non-group insurance plan (a plan offered to an individual employee). The CRA states that when an employer pays premiums or makes contributions to a non-group insurance plan, the amounts paid are a taxable benefit. The CRA explicitly includes sickness or accident, disability, and income maintenance plans in this non-group category.
This benefit is generally treated as a non-cash taxable benefit because the employer is paying the premium directly to the insurer (the employee receives the coverage, not cash). CRA guidance distinguishes cash benefits (paid as money, reimbursements, or allowances) from benefits provided in a manner other than cash.
Payroll must therefore include the value of the employer-paid premium in the employee's taxable income and report it on the appropriate slip (commonly T4 code 40 for current employees, as noted in CRA instructions for insurance premiums).
NEW QUESTION # 25
An interruption of earnings occurs when there is a period of how many days with no insurable earnings?
Answer: A
Explanation:
Service Canada's ROE Guide defines an interruption of earnings under the "7-day rule." It occurs when an employee has had, or is expected to have, 7 consecutive calendar days with no work and no insurable earnings from the employer.
This is specifically calendar days, not business days. That means weekends and holidays count in the seven- day sequence. The rule commonly applies when employees quit, are laid off, or are terminated, and it helps determine when an employer must issue an ROE (subject to certain listed exceptions and special situations, such as some employees with non-standard work patterns or employees mainly paid by commission).
From a payroll operations standpoint, correctly identifying the interruption of earnings is critical because it triggers ROE deadlines and affects the employee's ability to access EI benefits without delay. So the correct answer is Seven calendar days (option D).
NEW QUESTION # 26
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