career & personal planning 12 · web viewrandy works at two jobs. in one job, he earns...
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APPRENTICESHIP & WORKPLACE MATH 10 NAME_________________________
Worksheet – Net Pay DATE_________________________
Round all money to the nearest penny and all percents to one decimal place:
1. If the federal tax rate is 15%, and your taxable income is $750, how much federal tax is deducted from your paycheque?
2. If your Canadian Pension Plan (CPP) contribution rate is 4.95% and your taxable income is $1578.00 every two weeks, what will be the CPP deduction?
3. Hans had $412 deducted from his last paycheque for income tax. If his taxable income was $2168, what was the tax rate used to calculate the deduction (as a percent)?
4. Samantha’s gross earnings are $1750 biweekly. If the total deductions on her last paycheque was $370, what was her net pay?
5. On her last paycheque, Jessica gross earnings were $2750 and her total deductions were $686. What percent of her gross earnings were deducted?
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6. Bella has gross income of $982 per pay period. She has no “before-tax” or voluntary deductions. Her government deductions include $105.30 federal tax, $23.76 provincial tax, $48.61 CPP, and $14.12 EI.
a) What are Bella’s total deductions?
b) What is Bella’s net pay?
7. Patricia’s before-tax deductions amounted to $75.47 on a gross salary of $700.00.
a) What is Patricia’s taxable income?
b) If she paid $70.25 in federal tax, what is her tax rate?
c) If she paid $32.76 in provincial tax, what is her tax rate?
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8. Randy works at two jobs. In one job, he earns $325.00/week, and has deductions of $56.67 federal tax, $13.12 provincial tax, $16.09 CPP, and $4.14 EI. At his other job, he earns $567.00/week and pays $79.42 federal tax, $16.82 provincial tax, and $18.12 CPP. What is his net income?
a) Total gross income:
b) Total income tax:
c) Total CPP:
d) Total EI:
e) Total deductions:
f) Net pay:
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9. Sarah has a biweekly gross income of $3550. Her before-tax deductions include a short-term disability fee of 0.5%, union fees of 3.1%, and a registered pension of 4%. If she pays federal tax at a rate of 18.5%, provincial tax at a rate of 6.2%, CPP at 4.95%, and EI at 1.88%, what is her net income?
a) Short-term disability:
b) Union dues:
c) Pension plan:
d) Total “before-tax” deductions:
e) Taxable income:
f) Federal tax:
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g) Provincial tax:
h) CPP:
i) EI:
j) Total government deductions:
k) Total deductions:
l) Net income:
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10. Consider the following pay statement:
a) What is Hank’s gross weekly income?
b) What are Hank’s total deductions?
c) What is Hank’s net income?
d) What percent of his gross pay are his deductions?
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