Payroll Fundamentals 1
Midterm Comprehensive
Questions (Frequently Most
Tested) with Verified Answers
Commencement package (Ch.1) - Answer: -Organization specific forms (personal information forms)
-Government forms (federal and provincial personal tax credits return)
-Benefit forms (insurance enrollment forms)
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
-Taxable expense reimbursements
Earnings can be paid as... (ch.2) - Answer: -Salary
-Rate for each hour worked
-Rate per piece of goods produced or picked
-Disability payment for time off due to illness
-Payment for vacation time
-Premium payment for overtime
-Premium payment for hours worked on a shift
Earnings are... (ch.2) - Answer: -Pensionable
-Insurable
-Taxable
...therefore subject to all statutory deductions
Define allowances (ch.2) - Answer: The additional dollar amounts paid to employees for the use, or
anticipated use of their personal property for business purposes
What are the common types of allowances? (ch.2) - Answer: -Car
-Meals
-Uniforms
-Safety shoes or other types of clothing
Allowances are... (ch.2) - Answer: -Not considered income (under certain conditions)
...therefore not subject to statutory withholdings
Midterm Comprehensive
Questions (Frequently Most
Tested) with Verified Answers
Commencement package (Ch.1) - Answer: -Organization specific forms (personal information forms)
-Government forms (federal and provincial personal tax credits return)
-Benefit forms (insurance enrollment forms)
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
-Taxable expense reimbursements
Earnings can be paid as... (ch.2) - Answer: -Salary
-Rate for each hour worked
-Rate per piece of goods produced or picked
-Disability payment for time off due to illness
-Payment for vacation time
-Premium payment for overtime
-Premium payment for hours worked on a shift
Earnings are... (ch.2) - Answer: -Pensionable
-Insurable
-Taxable
...therefore subject to all statutory deductions
Define allowances (ch.2) - Answer: The additional dollar amounts paid to employees for the use, or
anticipated use of their personal property for business purposes
What are the common types of allowances? (ch.2) - Answer: -Car
-Meals
-Uniforms
-Safety shoes or other types of clothing
Allowances are... (ch.2) - Answer: -Not considered income (under certain conditions)
...therefore not subject to statutory withholdings
