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Quick Calculator - Pension

To do a Pension calculation in the 'Quick Calculator' mode:

  • Payroll Payment Date (DD/MM/YYYY) - Confirm or edit the payroll payment date. This will default to the current date.
  • Prov of Employment - Select the province of employment. A browser 'cookie' will be stored on your computer so that the same Province/Territory will be automatically selected as the default when you use the webTOD application in the future. The appropriate Province or Territory of Employment is usually the province/territory where the Employer is located, or where the Employee is required to report for work. If an Employee works from home and is not required to report for work at the Employer's workplace, then the Province/Territory of Employment is the Employee's province of residence.
  • TD1 Total Claim Amount - Select the appropriate Federal Tax Credit Claim Code from the list. The default Claim Code 1 (Basic Claim Amount) will be used if you do not select an alternate Claim Code. The Claim Code is based on the Total Claim Amount from the Employee's federal TD1 form which should be filed with the Employer. Select the Claim Code corresponding to the range within which the Employee's Total Claim Amount falls. Note that employers are required to obtain a completed and signed federal TD1 form from all employees, however a new TD1 form is not required each year if the employee's Total Claim Amount does not change from the previous year.
  • TD1(P) Total Claim Amount - Select the appropriate Provincial/Territorial Tax Credit Claim Code from the list. The default Claim Code 1 (Basic Claim Amount) will be used if you do not select an alternate Claim Code. The Claim Code is based on the Total Claim Amount from the Employee's Provincial or Territorial TD1P form which should be filed with the Employer. Select the Claim Code corresponding to the range within which the Employee's Total Claim Amount falls.
  • Pay Periods - Select the number of pay periods. A browser 'cookie' will be stored on your computer so that the same Pay Period definition will be automatically selected as the default when you use the webTOD application in the future.
  • Pension Income - Enter the amount of pension income to be paid for the current pay period.
  • Confirm that you agree with the Terms & Conditions of the calculator.
  • Click 'Calculate'. 

Required fields are marked with an asterisk ( * ).

SimpleMode-Pension.PNG

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