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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 2022 (Source)

Contribution Rate

Maximum Pensionable Earnings

Annual Basic Exemption

Annual Maximum Contribution

5.70%

$64,900.00

$3,500.00

$3,499.80

Employment Insurance (EI) Rates 2022 (Source)

Premium Rate

Maximum Insurable Earnings

Annual Maximum Premium

1.58%

$60,300.00

$952.74

Ontario Income Tax Rates 2022 (Source)

  • 5.05% on the first $46,226 of taxable income, plus
  • 9.15% on the next $46,228, plus
  • 11.16% on the next $57,546, plus
  • 12.16% on the next $70,000, plus
  • 13.16 % on the amount over $220,000

Federal Tax Rates 2022 (Source)

  • 15% on the first $50,197 of taxable income, plus
  • 20.5% on the next $50,195 of taxable income (on the portion of taxable income over 50,197 up to $100,392), plus
  • 26% on the next $55,233 of taxable income (on the portion of taxable income over $100,392 up to $155,625), plus
  • 29% on the next $66,083 of taxable income (on the portion of taxable income over 155,625 up to $221,708), plus
  • 33% of taxable income over $221,708