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CPP, EI, Provincial and Federal Tax Rates

The government requires all employees to deduct CPP (Canada Pension Plan), EI (Employment Insurance) and Income Tax. The current rates for each of these deductions are listed below.

CPP Rates 2014

CPP Rates 2014
Contribution rate: 4.95%
Maximum Pensionable Earnings: $52,500.00
Annual Basic Exemption: $3,500.00
Annual Maximum Contribution: $2,425.50

Employment Insurance (EI) Rates 2014

Employment Insurance (EI) Rates 2014
Premium Rate: 1.88%
Maximum Insurable Earnings: $48,600.00
Annual Maximum Premium: $913.68

Ontario Income Tax Rates 2014

Ontario Income Tax Rates 2014
Taxable Income Tax Rate
$0.00 - $39,723.00 5.05%
$39,723.01 - $429,552..00 9.15%
$429,552.01 - $509,000.00 11.16%
$509,000.01 and over 13.16%

Federal Tax Rates 2014

Federal Tax Rates 2014
Taxable Income Tax Rate
$0.00 - $43,953.00 15%
$43,953.01 - $87,907.00 22%
$87,907.01 - $136,270.00 26%
$136,270.01 and over 29%

 

To access the Federal TD1 form, the Federal CPT30 form or the Provincial TD1ON form, visit www.ccra-adrc.gc.ca