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| Section | Objectives |
|---|---|
| Non-Regular Payments | - Special payroll payments
|
| Commission Payments | - Commission payroll processing
|
| Workers’ Compensation | - Workers compensation administration
|
| Termination of Employment | - Termination processing
|
| Provincial Remittances | - Provincial payroll requirements
|
| Federal Remittances | - Government remittance obligations
|
| New Employee Information | - Employee setup and documentation
|
| Employment Income – Allowances, Expenses and Benefits | - Taxable and non-taxable benefits
|
| Non-Statutory Deductions | - Voluntary deductions
|
| Employment Income – Regular Earnings | - Regular payroll calculations
|
| Payroll Accounting | - Payroll accounting practices
|
| Record of Employment | - ROE processing
|
| Year-End Processing | - Federal and provincial year-end reporting
|
The source deductions form completed by all new employees in Quebec is called:
Correct Answer: A 🗳️
Explanation: Only visible for Free4Torrent members. You can sign-up / login (it's free).
Which of the following company-compulsory deductions would reduce the employee's gross taxable income for purposes of withholding income taxes?
Correct Answer: A 🗳️
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Alyssa is a member of her employer's Defined Contribution Pension Plan. The plan defines the contribution as 3% of the employee's pensionable earnings, with the employer matching the employee's contribution.
Alyssa's pensionable earnings are $3,400.00 per month. Calculate the total payment to be remitted to Alyssa's Defined Contribution Pension Plan each month.
Correct Answer:
$204.00 per month
Explanation:
In a Defined Contribution (DC) pension plan, contributions are calculated as a set percentage of the employee' s pensionable earnings, and the total remittance is usually the sum of the employee deduction plus the employer's matching contribution, based on the plan text. Here, the plan states the employee contributes 3% of pensionable earnings, and the employer matches the employee contribution.
Step 1: Calculate the employee's pension contribution:
3% × $3,400.00 = 0.03 × 3,400.00 = $102.00.
Step 2: Calculate the employer match:
Because the employer matches the employee contribution, the employer contributes $102.00 as well.
Step 3: Total remittance to the plan:
$102.00 (employee) + $102.00 (employer) = $204.00 each month.
From a payroll processing perspective, the employee amount is withheld from gross pay as a payroll deduction according to plan rules, while the employer match is recorded as an employer expense. Payroll remits both amounts to the plan administrator following the plan's remittance schedule, and should reconcile pensionable earnings and contributions to ensure accuracy and compliance with plan terms.
Dollar values attributed to something the employer has either provided to an employee or paid for on an employee's behalf are:
Correct Answer: A 🗳️
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Steve is physically disabled and his employer pays for his parking spot. This is considered:
Correct Answer: C 🗳️
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