Payroll 1 exam 2024/2025 with 100% correct answers
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Course
Payroll 1
Institution
Payroll 1
employee "optional deductions" can be added on by the Employer, Ture or False? correct answersFalse, - for optional deductions, - need consent in writing, Optional deductions, include Charities, Parking, and employee sponsored social funds - Employee can "opt out"
An Employer can take a "Compuls...
employee "optional deductions" can be added on by the Employer, Ture or False? correct answersFalse, -
for optional deductions, - need consent in writing, Optional deductions, include Charities, Parking, and
employee sponsored social funds - Employee can "opt out"
An Employer can take a "Compulsory Deduction" of your pay check- True or False correct answersTrue, -
typically a contribution to a Company Pension (Defined or Contribution) or Union Dues (part of the
collective agreement)
Does a Charity have to be registered with the CRA do be an Optional Employee deduction, True or False
correct answersFALSE, however if the Charity is not registered with the CRA with a Charitable Society
Number, - the employee will not get a Donation Receipt (used to lower T1 taxes)
If you get a Legal Order from a Small Claims Court, you don't have to enforce, True or False correct
answersFalse, any Legal order from Small Claims, Provincial or Federal Court must be implemented. The
Employer is responsible to pay whether the Employer deducts the amount from the employee or NOT!
Who can send the Employer a Garnish order, aka a "legal deduction" correct answersLegal Deductions
can be sent by
The CRA (taxes outstanding)
A Court (child support or Creditor ruling)
Unions (as part of the union agreement, employees have to join the Union and pay Union dues)
If the deduction is not a Statutory Deduction, the company can use the deductions held to pay for a
luxury vehicle for the Payroll Manager? True or False correct answersFALSE, deductions must be held in
Trust. If the CRA audits your Payroll it is called a Trust Audit, - serious, and Company owners and officials
could face Criminal Charges.
Statutory Deductions include: Income Tax, CPP/QPP, EI and WCB/WSIB? True or False correct
answersFALSE. Income Tax, CPP/QPP and EI are all Statutory. WCB/WSIB is also a legal requirement but
only for specific industries. For example, accounting firms can opt out of WCB as work place is not likely
to have injuries, - paper cuts - need a band aid.
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