Groupe Alimentaires is preparing the2020year-end information slips for their employees.Simonehad worked for the company in...
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Groupe Alimentaires is preparing the2020year-end information slips for their employees.Simonehad worked for the company in their Montreal, Qubec office from October 1987 until her employment was terminated in November,2020. Upon termination of employment,Simonereceived a retiring allowance of$52,000.00, which was paid to her at her request.
Calculate the federal and Qubec income taxes withheld on the retiring allowance, and include them, as required, when completingSimone's RL-1 slip. The income taxes shown in the table donotinclude the taxes withheld on the retiring allowance.
Complete the boxes onSimone's RL-1 slip based on the information provided.
ItemAmountRegular earnings$83,000.00Bonus pay$17,750.00Retiring Allowance$52,000.00Wages in lieu of notice$12,150.00Vacation pay$8,286.00QPP contributions$$3,146.40EI premiums$$650.40QPIP premiums$$387.79Federal income tax$19,026.96Quebec income tax$25,369.28EI insurable earnings$54,200.00QPIP insurable earnings$$78,500.00QPP pensionable earnings$$58,700.00Accidental death and dismemberment non-cash taxable benefit$128.75Charitable donations$725.00Automobile non-cash taxable benefit$2,636.81Group term life insurance non-cash taxable benefit$1,005.00Private health insurance non-cash taxable benefit$1,889.85
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