The following is now available on the CRA Web site: News release Ottawa, Ontario, November 1, 2010… The Canada Revenue Agency announced today that the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2011 will be $48,300—up from $47,200 in 2010. The new ceiling was calculated according to a CPP legislated formula that takes into account the growth in average weekly wages and salaries in Canada. Contributors who earn more than $48,300 in 2011 are not required or permitted to make additional contributions to the CPP. The basic exemption amount for 2011 remains $3,500. Individuals who earn less [More]
The following is now available on the CRA Web site: News release Ottawa, Ontario, November 3, 2009… The Canada Revenue Agency (CRA) announced today that the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2010 will be $47,200—up from $46,300 in 2009. The new ceiling was calculated according to a CPP legislated formula that takes into account the growth in average weekly wages and salaries in Canada. Contributors who earn more than $47,200 in 2010 are not required or permitted to make additional contributions to the CPP. The basic exemption amount for 2010 remains $3,500. Individuals who earn [More]
The following News Release or Speech has just been posted on the Finance Canada Site. Ottawa, November 14, 2008 2008-092 The Honourable Jim Flaherty, Minister of Finance, and the Honourable Diane Finley, Minister of Human Resources and Skills Development, today welcomed the Canada Employment Insurance Commission’s decision to hold the Employment Insurance (EI) premium rate for 2009 unchanged at $1.73, its lowest level in 15 years. “Given the current challenges posed by global economic instability, Canadian workers and businesses appreciate that now is not the time for raising premium rates,” said Minister Flaherty. “Rather, it is time to secure Canada’s [More]
Canada Employment Insurance Commission to Reduce EI Premium Rates for 2007 Ottawa, November 9, 2006 2006-066 The Honourable Jim Flaherty, Minister of Finance, today welcomed the decision by the independent Canada Employment Insurance Commission to reduce employment insurance (EI) premium rates for 2007. For employees, the premium rate will fall to $1.80 from its current level of $1.87 per $100 of insurable earnings, effective January 1, 2007. The rate paid by employers will be reduced to $2.52 from $2.62 per $100 of insurable earnings. The Report of the Human Resources and Social Development (HRSD) Chief Actuary, which draws upon economic [More]