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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
Up to $40,120 5.05%
Greater than $40,120 up to $80,242 9.15%
Greater than $80,242 up to $150,000 11.16%
Greater than $150,000 up to $220,000 12.16%
Greater than $220,000 13.16%

Federal Tax Rates 2014

Federal Tax Rates 2014
Taxable Income Tax Rate
Up to $43,953 15%
Greater than $43,953 up to $87,907 22%
Greater than $87,907 up to $136,270 26%
Greater than $136,270 29%

 

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