2013 Rates and Maximums Chart

CPP/QPP—2013

Year’s Maximum Pensionable Earnings
$51,100.00

Year’s Basic Exemption (by pay period type):

* Annual
$3,500.00

* Monthly (12)
$291.66

* Semi-Monthly (24)
$145.83

* Bi-Weekly (26)
$134.61

* Weekly (52)
$67.30

Maximum Contributory Earnings
$47,600.00

Contribution Rate – Employee/Employer
4.95%

Contribution Rate – Self-Employed
9.9%

Maximum Contribution – Employee/Employer
$2,356.20

Maximum Contribution – Self-Employed
$4,712.40

EMPLOYMENT INSURANCE – 2013

Maximum Annual Insurable Earnings
$47,400.00

Premium Rate (Employee)
1.88%*

Premium Rate (Employer, 1.4 x Employee)
2.632%*

Annual Maximum Premium (Employee)
$891.12*

Annual Maximum Premium (Employer)
$1,247.57*

*Unless a reduced premium Read More

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By |February 27th, 2013|SmallBiz Builder|

2013 Tax System Indexation

On January 1, 2013, all indexed personal income tax amounts, including tax bracket thresholds and amounts used to calculate non-refundable tax credits, were adjusted by 2.0%. The Canada Child Tax Benefit and the goods and services tax credit will take effect July 1, 2013.

For 2013 the federal tax bracket thresholds are:

22% for taxable income above Read More

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By |February 13th, 2013|Tax Tips|