In 2024, employees over the age of 18 who earn more than $3,500 per year must pay into the CPP. (As we mentioned above, if you live in Québec, you'll pay into the QPP, which has aslightly higher rate.) CPP contributions are split equally between employer and employee, based on ...
One way involves a series of higher contribution rates from 2019 to 2023 and the other will involve a higher ceiling on how much annual income is subject to contributions in 2024 and 2025. By 2023, the employer’s contribution rate will be 5.95 per cent of an employee’s pensiona...
Previously, everyone earning over the base amount (currently $3,500) contributes a set portion of their income, up to a maximum amount (last year’s was $66,600) that increases slightly every year. Those who are self employed pay both the employee and employer port...
Then in 2019, the government phased in an increase in the employer-employee CPP contributions. From 2019 to 2023, the shared CPP contribution rate went from 9.9% to 11.9% (up to that year’s YMPE). Starting in 2024, the government has raised the amount of income considered for a “full...
PayrollW2KindOfEmployer Enumeration [AX 2012] PayrollW2PrintType Enumeration [AX 2012] PayrollWageTaxQuarter Enumeration [AX 2012] PayrollWorkerEnrollmentDetailInterval Enumeration [AX 2012] PBABOMRoute Enumeration [AX 2012] PBADataType Enumeration [AX 2012] PBADataTypeSimple Enumeration [AX 2012] PBA...