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Pay-Cheques! Calm 20.

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Presentation on theme: "Pay-Cheques! Calm 20."— Presentation transcript:

1 Pay-Cheques! Calm 20

2 Pay Cheque Definitions
Gross Income: The amount of income/earnings, for any pay period, before deductions. Net Income: The amount of income/earnings, for any pay period, after deductions. (Take home pay) CPP: Canada Pension Plan. 2.3% of gross income contributed to a Federal Government pension plan. EI: Employment Insurance. 2.5% of gross income deducted for insurance in case of unemployment.

3 Pay Cheque Definitions
Income Tax: A deduction paid to the Federal and Provincial government for taxes. LTD: A deduction for Long Term Disability insurance. Union Dues: Fees paid for a membership in a union. Bonds: An investment in which a business or government pays a set interest rate.

4 Pay Cheque Definitions
Advance Earnings: Deducted money that was received in advance of the pay cheque. Overtime Earnings: Pay received for working over 8 hours a day or 44 hours a week, whichever is greater.

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