| 2024 | 2023 | |
|---|---|---|
| Canada Pension Plan (CPP) | ||
| Contribution Rate | 5.95% / 4.0% | 5.95% |
| Employee Maximum $ | $3,868 / $188 | $3,754 |
| Maximum Earnings | $68,500 / $73,200 | $66,600 |
| Exemption | $3,500 | $3,500 |
| Click here for historical CPP rates | ||
| Employment Insurance (EI) | ||
| Contribution Rate | 1.66% | 1.63% |
| Employee Maximum $ | $1,049 | $1,002 |
| Maximum Earnings | $63,200 | $61,500 |
| Click here for historical EI rates | ||
| WSIB (ON) Maximum Earnings | $112,500 | $110,000 |
| Employer Health Tax Exemption (ON 1.95%) | $1,000,000 | $1,000,000 |
| Basic Personal Exemption (Federal) | $15,705 | $15,000 |
CPP Notes: 18+; employer pays same as employee; 10% of CPP maximum earnings needed in 4 of the last 6 years to qualify for the CPP disability pension
EI Notes: employer pays 1.4 times employee amount; owners and their family are usually exempt (not eligible)