Details on legislated payments on termination of employment

Assignment Help Financial Accounting

Reference no: EM131175788

Glorious Fashions is a retail organization with offices and boutiques in Ontario and Québec. The organization started operations in 1978 and currently has an approximate annual payroll of $12,000,000 in each jurisdiction.

The organization is considering terminating the employment of five employees at each location. To assist with forecasting the budget for the balance of the year, Susan Little, the Director of Finance has asked you, as the Payroll Supervisor, to provide her with the details on all legislated payments on termination of employment required for each jurisdiction. In addition to the required payments on termination, include any employer costs related to the employees' statutory deductions.

Prepare your response (350 - 500 words) using correct spelling, grammar and punctuation. You will be penalized if you are excessively over or under the suggested word count. Your response must be stated in your own words and should be based on the course material, your experiences, knowledge gained through the course and at least one external government resource.

Any responses taken directly from the external government resource or course material will not be accepted. Information referenced from the government resource(s) and the course material must be cited. For example:

• if you are referencing the Canada Revenue Agency's Employers' Guide - Payroll Deductions and Remittances - T4001, state the URL where the information can be found,https://www.cra-arc.gc.ca/E/pub/tg/t4001/README.html and the page number, if applicable

• if you are referencing the course material, state the course name, chapter and page number where the information can be found.

Reference no: EM131175788

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