Canada has set the Canada Pension Plan (CPP) and Employment Insurance (EI) premium rates and maximums for 2019.
CPP contribution rates, maximums, and exemptions:
- The pensionable earnings maximum is increased to CAD 57,400, while the basic exemption amount remains CAD 3,500, resulting in maximum contributory earnings of CAD 53,900;
- The employee and employer contribution rates are increased from 4.95% to 5.1% (10.2% for self-employed); and
- The maximum annual employee and employer contribution…