PAYROLL FUNDAMENTALS 1 ELITE STUDY GUIDE
COMPREHENSIVE REVIEW WITH SOLVED
SCENARIOS AND DETAILED ANSWERS 2026
EDITION
◉Hiring form (ch.1) . Answer May include information on their position
such as department, manager, start date, salary/hourly wage, and benefit
entitlement
◉Information that must be provided to employees (ch.1) . Answer -
Employee name
-Date of pay period
-Rates of pay and hours of work at each rate
-Gross earnings
-Itemized deductions
-Net pay
◉TD1- WS is used to calculate partial claim amounts for... (ch.1) .
Answer -Age
-Canada caregiver amount for eligible dependent or spouse or common-
law partner
,-Canada caregiver amount for dependent(s) age 18 or over
◉Federal TD1, Provincial/territorial TD1, and Quebec TP-1015.3-V
require... (ch.1) . Answer -Name
-Date of birth
-Social insurance number
◉Other credits employees can claim on their Federal and
Provincial/Territorial TD1 to lower taxes (ch.1) . Answer -Being a
caregiver
-Being over 65
-Receiving a pension
-Being or supporting a student in post-secondary studies
-Being disabled
-Supporting a spouce
-Living alone (Quebec)
-Having children under 18 (Saskatchewan and Yukon)
◉Do you have to claim basic personal provincial/territorial credits?
(ch.1) . Answer -No, if only doing basic
-Yes, if claiming children under 18 (Sakatchewan and Yukon)
-Yes, always (Quebec)
, ◉Employers should review TD1 and TP-1015.3-V forms to ensure
(ch.2) . Answer -Correct employee name, Date of birth, Address, and
SIN
-Correct amounts on the form
-Amounts claimed are totaled correctly
-Form does not contain obvious false statements
-The form is signed a dated
◉What certain information must appear on an employee's statement of
wages? (ch.2) . Answer -Name
-Rate of pay and hours worked at each rate
-Date of pay period
-Gross and net pay
-Itemized deductions
◉Renumeration (ch.2) . Answer Employee received compensation or
pay for the services they perform
-AKA employee income when employer-employee relationship exists
◉Employee income can be categorized into what? (ch.2) . Answer -
Earnings
-Allowances
-Benefits
COMPREHENSIVE REVIEW WITH SOLVED
SCENARIOS AND DETAILED ANSWERS 2026
EDITION
◉Hiring form (ch.1) . Answer May include information on their position
such as department, manager, start date, salary/hourly wage, and benefit
entitlement
◉Information that must be provided to employees (ch.1) . Answer -
Employee name
-Date of pay period
-Rates of pay and hours of work at each rate
-Gross earnings
-Itemized deductions
-Net pay
◉TD1- WS is used to calculate partial claim amounts for... (ch.1) .
Answer -Age
-Canada caregiver amount for eligible dependent or spouse or common-
law partner
,-Canada caregiver amount for dependent(s) age 18 or over
◉Federal TD1, Provincial/territorial TD1, and Quebec TP-1015.3-V
require... (ch.1) . Answer -Name
-Date of birth
-Social insurance number
◉Other credits employees can claim on their Federal and
Provincial/Territorial TD1 to lower taxes (ch.1) . Answer -Being a
caregiver
-Being over 65
-Receiving a pension
-Being or supporting a student in post-secondary studies
-Being disabled
-Supporting a spouce
-Living alone (Quebec)
-Having children under 18 (Saskatchewan and Yukon)
◉Do you have to claim basic personal provincial/territorial credits?
(ch.1) . Answer -No, if only doing basic
-Yes, if claiming children under 18 (Sakatchewan and Yukon)
-Yes, always (Quebec)
, ◉Employers should review TD1 and TP-1015.3-V forms to ensure
(ch.2) . Answer -Correct employee name, Date of birth, Address, and
SIN
-Correct amounts on the form
-Amounts claimed are totaled correctly
-Form does not contain obvious false statements
-The form is signed a dated
◉What certain information must appear on an employee's statement of
wages? (ch.2) . Answer -Name
-Rate of pay and hours worked at each rate
-Date of pay period
-Gross and net pay
-Itemized deductions
◉Renumeration (ch.2) . Answer Employee received compensation or
pay for the services they perform
-AKA employee income when employer-employee relationship exists
◉Employee income can be categorized into what? (ch.2) . Answer -
Earnings
-Allowances
-Benefits
