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In: Accounting

Accounting. payroll.canada. ontario Your manufacturing organization has a semi-monthly payroll, paying on the 15th and last...

Accounting. payroll.canada. ontario

Your manufacturing organization has a semi-monthly payroll, paying on the 15th and last day of each month. Your organization pays employees in British Columbia.

On the June 15th pay date of the current year the following deductions occurred. Using the Current Year calendar in the course material, explain when each payment must be received by the issuer or administrator:

Family Maintenance Enforcement

Union Dues (collective agreement states payment due three business days after pay date)

Registered Defined Contribution Pension Plan (employer matches employee contributions)

Group RRSP

Solutions

Expert Solution

Family Maintenance Enforcement - The Family Maintenance Enforcement Program is a free service offered by the British Columbia Ministry of Attorney General. The main purpose of this program is to collect money from a person for child support and family maintenance. The administrator can collect a portion of a person's monthly salary end of every month. It is better to collect it at the end of the month as we need to deduct it from the portion of the salary.

Union Dues - The administrator should collect it on 1st and 16th of every month as per collective agreement states three business days after payment dates which are 3rd and 18th of every month.

Registered Defined Contribution Pension Plan - It is required to contribute a portion of an employee's salary towards pension as per the Pension Benefits Standards Act. Most preferable way to reduce this would reduce it from the monthly salary on 15th and last day of every month.

Group RRSP - According to Canada government, "An RRSP is a retirement saving plan that a person establishes, that they register, and to which the person or his/her spouse or common-law partner contributed. Deductible RRSP contributions can be used to reduce your tax."Most preferable way to reduce this would reduce it from the monthly salary on 15th and last day of every month


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