Step-by-step explanation:
To calculate Aiesha's weekly net pay, we'll need to consider deductions such as income tax, Canada Pension Plan (CPP), and Employment Insurance (EI). Assuming the tax year is 2020 and using the annual basic personal amount of $13,808, we can calculate the weekly net pay.
1. Income Tax:
The federal income tax brackets and rates for 2020 are as follows:
- 15% on the first $48,535 of taxable income
- 20.5% on the portion of taxable income over $48,535 up to $97,069
- 26% on the portion of taxable income over $97,069 up to $150,473
- 29% on the portion of taxable income over $150,473 up to $214,368
- 33% on the portion of taxable income over $214,368
For simplicity, let's assume that Aiesha's annual income is below $48,535, so she falls into the 15% income tax bracket.
To calculate the weekly income tax deduction, we divide the annual income tax by the number of weeks in a year:
Income tax deduction = (annual income tax / number of weeks in a year)
Based on the tax brackets and rates provided, the weekly income tax deduction for Aiesha is:
Income tax deduction = ($13,808 * 15% / 52 weeks)
2. Canada Pension Plan (CPP):
CPP is calculated based on a percentage of eligible earnings, with a maximum annual pensionable earnings set at $58,700 (as of 2020). The CPP contribution rate is 5.25% of eligible earnings.
To calculate the weekly CPP deduction, we multiply the eligible earnings by the CPP contribution rate and divide by the number of weeks in a year:
CPP deduction = (eligible earnings * CPP contribution rate / number of weeks in a year)
Since we don't have the specific earnings for Aiesha, we cannot provide an accurate CPP deduction amount.
3. Employment Insurance (EI):
The EI premium rate for 2020 is 1.58% of insurable earnings, up to $54,200 (as of 2020). However, the maximum annual premium is set at $856.36.
To calculate the weekly EI deduction, we multiply the insurable earnings by the EI premium rate and divide by the number of weeks in a year:
EI deduction = (insurable earnings * EI premium rate / number of weeks in a year)
Similar to CPP, we do not have Aiesha's specific earnings to provide an accurate EI deduction amount.
KLE's detailed monthly remittance to the government will include the deductions withheld for income tax, CPP, and EI for all employees. To calculate the total monthly remittance, these deductions will be summed up for each employee and remitted to the respective government agencies.
As for the specific due date for the remittance in June, it is recommended to consult the guidelines provided by the government agency to ensure compliance with remittance deadlines.
Please note that the calculations provided might not be accurate without knowing the specific earnings and employment status of Aiesha. These calculations are intended as a general illustration of the deductions based on the information provided for the tax year 2020.