EI premium rates and maximums

Federal EI premium rates and maximums Year Max. AnnualInsurableEarnings Rate (%) Max. AnnualEmployeePremium Max. AnnualEmployerPremium 2014 $48,600 1.88 $913.68 $1,279.15 2013 $47,400 1.88 $891.12 $1,247.57 2012 $45,900 1.83 $839.97 $1,175.96 2011 $44,200 1.78 $786.76 $1,101.46 2010 $43,200 1.73 $747.36 $1,046.30 2009 $42,300 1.73 $731.79 $1,024.51 2008 $41,100 1.73 $711.03 $995.44 2007 $40,000 1.80 $720.00 $1,008.00…

2014 indexation adjustment for personal income tax, benefit amounts, and the annual dollar limit for Tax-Free Savings Accounts (TFSAs)

Each year, certain personal income tax and benefit amounts are indexed to inflation using the Consumer Price Index data as reported by Statistics Canada. Increases to tax bracket thresholds, amounts relating to non refundable credits, and most other amounts will take effect on January 1, 2014. However, increases to the Canada child tax benefit (including…

Canada Revenue Agency announces maximum pensionable earnings for 2014

Ottawa, Ontario, November 1, 2013… The Canada Revenue Agency announced today that the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2014 will be $52,500—up from $51,100 in 2013. The new ceiling was calculated according to a CPP legislated formula that takes into account the growth in average weekly wages and salaries in…