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.
Contribution Rate |
Maximum Pensionable Earnings |
Annual Basic Exemption |
Annual Maximum Contribution |
---|---|---|---|
5.70% |
$64,900.00 |
$3,500.00 |
$3,499.80 |
Premium Rate |
Maximum Insurable Earnings |
Annual Maximum Premium |
---|---|---|
1.58% |
$60,300.00 |
$952.74 |