Calculate net pay for an employee residing and working in Quebec who has regular earnings...

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Accounting

Calculate net pay for an employee residing and working in Quebec who has regular earnings and taxable benefits. Use the Payroll template below:
Marc Potvin is an accounts payable administrator for a large retail clothing chain in Qubec. He earns $33,000.00 annually, paid bi-weekly. Marcs TD1 claim code is 1 and his TP1015.3-V deduction code is A.
As part of the 100% employer-paid benefit package, Marc has group Term Life Insurance Coverage worth two times his annual salary. The company pays $0.85 per $1,000 for the group Term Life Insurance Coverage.
Each administrative staff member receives an employer-paid parking spot at head office, located in downtown Montral, where the fair market value of parking in the vicinity is $250.00 per month, plus goods and services tax (GST), which is calculated at a rate of 5% on the selling price; and the Qubec sales tax (QST), which is calculated at a rate of 9.975% on the selling price excluding the GST. Parking benefits are assessed on a pay period basis.
Marc receives a taxable car allowance of $75.00 per pay for using his own automobile for Business purposes.

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