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Employee's name
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My Nanny
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Employer's name
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Tammy Boundy
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Pay period
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Monthly (12 pay periods a year)
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Pay period ending date
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2012-02-24
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Province of employment
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Ontario
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Federal amount from TD1
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Claim Code 1 (Minimum - 10,822.00)
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Provincial amount from TD1
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Claim Code 1 (Minimum - 9,405.00)
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Salary or wages for the pay period
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1,689.60
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Total EI insurable earnings for the pay period
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1,689.60
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Taxable income
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1,689.60
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Cash income for the pay period
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1,689.60
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Federal tax deductions
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89.46
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Provincial tax deductions
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42.07
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Requested additional tax deduction
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0.00
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Total tax on income
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131.53
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CPP deductions
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69.20
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EI deductions
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30.92
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Amounts deducted at source
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0.00
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Total deductions on income
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231.65
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The above information is based on $10.56 per hour, for a 40 hour work week, paid monthly to your caregiver.
From the net amount listed above, you may deduct up to a maximum of $369.42 per month for room and board of your Live-in Caregiver.
Therefore, the total cost to employ a Foreign Live-in Caregiver at 40 hours per week, paid monthly would be:
$1457.95 minus 369.42 for room and board equal $1088.53 per month net pay to your Live-in Caregiver, for the months that there is 4 weeks in a month.
Canada Revenue Agency will require you to submit the Federal & Provincial Tax deductions, Canada Pension Plan and Employment Insurance that are to be deducted from your caregiver’s pay. As an employer you will also be required to make a monthly employer for CPP & EI. See calculation below…
Payroll Deductions Online Calculator
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Employer summary - Effective January 1, 2012
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Employee's name
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My Nanny
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Employer's name
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Tammy Boundy
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Pay period
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Monthly (12 pay periods a year)
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Pay period ending date
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2012-02-24
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Province of employment
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Ontario
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Federal/Provincial tax deductions
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131.53
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Requested additional tax deduction
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0.00
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Total tax deductions
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131.53
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Canada Pension Plan deductions
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69.20
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Employment Insurance deductions
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30.92
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Total deductions
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231.65
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Employer's contribution:
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Canada Pension Plan
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69.20
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Employment Insurance
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43.29
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For this calculation, remit this amount
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344.14
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Canada Pension Plan (CPP)
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The employer's contribution is an amount equal to the total of the employee's contribution.
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Employment Insurance (EI)
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The employer's contribution is an amount equal to 1.4 times the total of the employee's premiums, unless a reduced rate applies.
The about chart is provided by Canada Revenue Agency web site, at www.cra-arc.gc.ca. The numbers are based on an hourly wage of $10.56 per hour, paid monthly to the employee. The above information does not include statutory holidays, vacation pay or Worker’s Compensation.
The Total Cost per month based on 10.25 per hour at 40 hours per Week, paid monthly;
Monthly Wage to Caregiver is $ 1088.53
Total Monthly Tax Contribution, CPP, EI 344.14
Cost per Month $ 1432.67
Please remember that these figures are based on the Canada Revenue Agency web site that reflects their changes effective January 1, 2012. These figures are also based on a wage that is paid monthly and not weekly or bi-weekly. Please see www.cra-arc.gc.ca for more details.
Not included in these figures are vacation pay, statutory holidays and W.S.I.B contributions. We recommend that you hire a payroll expert.
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Overtime Pay
You must be paid overtime pay after 44 hours of work each week. The overtime rate must be at least 1½ times the regular rate of pay.
Minimum Wage
The minimum wage is the lowest hourly rate an employer can pay an employee. Currently the minimum wage is $10.56 per hour, effective January 1, 2012.
Your gross pay, before deductions, must be at least minimum wage. By law, your employer must deduct Income Tax, Canada Pension Plan (CPP), and Employment Insurance (EI) from your total pay and your employer must make CPP and EI contributions for you.
If you and your employer agree that you will receive a wage greater than the minimum wage, then that is the amount you are entitled to receive.
For more details see:
http://www.labour.gov.on.ca/english/es/pubs/is_fn_esa.php
© Copyright protected by Caring Nanny Agency International Inc
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