With the new year comes changes to CPP & EI rates. Below are the new 2019 rates, both have been increased slightly over the 2018 amounts.
| CPP | 2019 | 2018 |
| Maximum Annual Pensionable Earnings | $57, 400 | $55, 900 |
| Basic Exemption | $3,500 | $3,500 |
| Maximum Contributory Earnings | $53, 900 | $52, 400 |
| Contribution Rate | 5.10% | 4.95% |
| Maximum Annual Employee & Employer Contributions | $2, 748.90 | $2, 593.80 |
| Maximum Annual Self-Employed Contribution | $5, 497.80 | $5, 187. 60 |
| EI | 2019 | 2018 |
| Maximum Annual Insurable Earnings | $53, 100 | $51,700 |
| Contribution Rate | 1.62% | 1.66% |
| Maximum Annual Employee Contribution | $860.22 | $858.22 |
| Maximum Annual Employer Contribution | $1,204.31 | $1,201.51 |
It is important to remember that both CPP & EI have special rules. Payroll is not always straight forward, and it is best to have it done by a professional.
If you have any questions we have trained payroll professionals ready to help! Contact us today.