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National Payroll Institute PF1 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Earnings, Deductions, and Taxation | - Deductions and remittances
|
| Topic 2: Payroll Fundamentals and Compliance Framework | - Payroll legislation and regulatory bodies
|
| Topic 3: Payroll Records and Compliance Reporting | - Recordkeeping requirements
|
National Payroll Institute Payroll Fundamentals 1Exam Sample Questions:
Ursula is 17 years old, works in Quebec and earns $750.00 weekly. Ursula pays weekly union dues of $18.00 along with a special weekly union assessment of $10.00 for construction of a new union hall for its members.
Ursula also has registered pension plan (RPP) contributions of $20.00 deducted from each pay. Calculate Ursula's net federal taxable income.
Correct Answer:
$712.00
Explanation:
For payroll income tax purposes, net taxable income starts with the employee's gross taxable income and then subtracts only those deductions that are deductible for income tax and can be recognized at source. CRA payroll guidance shows this approach by subtracting items such as RPP contributions and union dues when determining net taxable income for calculating income tax deductions.
Gross taxable income (weekly): $750.00.
RPP contributions are deductible (the amounts reported from box 20 of the T4 are generally deductible).
Regular union dues are deductible; however, the CRA states that deductible annual union/professional dues do not include special assessments or charges for anything other than ordinary operating costs. A levy specifically for constructing a new union hall is a special assessment, so it is not deductible as union dues.
So the deductions that reduce federal taxable income here are: $18.00 (union dues) + $20.00 (RPP) = $38.00.
Net federal taxable income = $750.00 # $38.00 = $712.00.
Helen is reimbursed for the cost of the protective clothing that is legally required for her job. The clothing she bought isnot supported by receiptsand is a reasonable reimbursement amount. This is considered:
- A. A non-taxable allowance
- B. A cash taxable benefit
- C. A taxable allowance
- D. None of the above
Correct Answer: C 🗳️
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The formula for calculating net pay is:
- A. Pensionable earnings minus total deductions
- B. Gross earnings minus total deductions
- C. Gross earnings minus total tax
- D. Net taxable income minus total deductions
Correct Answer: B 🗳️
Explanation: Only visible for TestValid members. You can sign-up / login (it's free).
Which of the following deductions would be the last payroll withholding in order of priority?
- A. Requirement to Pay
- B. Voluntary insurance coverage
- C. The organization's pension plan
- D. Third Party Demand
Correct Answer: B 🗳️
Explanation: Only visible for TestValid members. You can sign-up / login (it's free).
The Canada Revenue Agency form that is completed to allow a commissioned employee to claim non- reimbursed expenses at source is a:
- A. TD1X
- B. TP-1015.R.13.1-V
- C. TD1
- D. T777
Correct Answer: A 🗳️
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