Calculate Net Employment Income

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Reference no: EM132834088

Question - Peter lives and works in Ontario as an internal auditor for a public corporation. She is required to travel for work. Ms. E. provides you with the following information for 2020:

Gross Salary $60,000

Income Tax Withheld 15,900

CPP Contributions - Employee 2,898

EI Contributions - Employee 856

Registered Pension Plan Contributions - Employee 3,000

Charitable Donations 100

Reimbursement Paid by Employee for Use of Company Vehicle 300

Employer paid Ms. E.'s private health care premiums 625

Ms. E. has the use of a company car for the entire year. She drove the car a total of 25,000 kilometers. 20% of those kilometers were for personal reasons. The company paid the car's annual $3,200 operating costs and $4,500 lease payments.

Ms. E's employer gives her a monthly travel allowance of $400 and requires her to pay for her own meals and accommodations while traveling for work. She spent $3,000 on meals and entertainment, and $4,000 for accommodations.

Ms. E. made a $1,500 contribution to a Registered Retirement Saving Plan. She paid $300 in professional dues and paid a lawyer $200 attempting to collect wages owing to her from a previous employer.

Required - Calculate Net Employment Income for 2020 (Division B, Subdivision a). Show all calculations.

Reference no: EM132834088

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