Canada Pension Plan (CPP) Rates:

 

2014

2015

2016

2017

2018

Yearly maximum

pensionable earnings

$52,500

$53,600

$54,900

$55,300

$55,900

Basic yearly exemption

$  3,500

$  3,500

$  3,500

$  3,500

$  3,500

Net contributory earnings

$49,000

$50,100

$51,400

$51,800

$52,400

Contribution rate

    4.95%

    4.95%

    4.95%

    4.95%

    4.95%

Employee's/employer's
maximum yearly contribution

$2,425.50

$2,479.95

$2,544.30

$2,564.10

$2,593.80

Self-employed yearly maximum

$4,851.00

$4,959.90

$5,088.60

$5,128.20

$5,187.60


Employment Insurance (EI) Rates:

 

2014

2015

2016

2017

2018

Yearly maximum insurable earnings

$48,600

$49,500

$50,800

$51,300

$51,700

Premium rate - employee's

1.88%

1.88%

1.88%

1.63%

1.66%

Maximum employee premium

913.68

930.60

955.04

836.19

858.22

Premium rate - employer's

(1.4 times employee's premium)

2.630%

2.630%

2.630%

2.282%

2.282%

Maximum employer premium

$1,278.18

$1,302.84

$1,336.04

$1,170.67

$1,201.51

 

Ontario Workplace Safety Insurance Board (WSIB):

 

2014

2015

2016

2017

2018

Yearly maximum insurable earnings ceiling - Ontario

 

$84,100

 

$85,200

 

$88,000

 

$88,500

 

$90,300

 

Automobile deduction limits:

 

2014

2015

2016

2017

2018

Capital cost ceiling (plus taxes)

$30,000

$30,000

$30,000

$30,000

$30,000

Deductible lease amount

 (plus applicable taxes)

$800

$800

$800

$800

$800

Maximum allowable interest

 per month

$300

$300

$300

$300

$300

Tax-exempt allowances

- 1st 5000 km

- Balance of kms

(Add: .04/km for YK/NWT/NU)

 

.54

.48

 

.55

.49

 

.54

.48

 

.54

.48

 

.55

.49

General prescribed rate

- other

- car dealers

 

.27

.24

 

.27

.24

 

.26

.23

 

.25

.22

 

.26

.23

 

Prescribed interest rates/average exchange rates

 

2014

2015

2016

2017

2018

Prescribed rates loans - note 3

-          1st quarter

-          2nd quarter

-          3rd quarter

-          4th quarter

 

1.0%

1.0%

1.0%

1.0%

 

1.0%

1.0%

1.0%

1.0%

 

1.0%

1.0%

1.0%

1.0%

 

1.0%

1.0%

1.0%

1.0%

 

1.0%

tba

tba

tba

Average annual exchange rate

-          US dollar

-          UK pound

-          Euro

 

1.104466

1.819031

1.4671

 

1.278711

1.953984

1.4182

 

1.324806

1.796212

1.4600

 

1.2986

1.6720

1.465

 

tba

tba

tba

 


 

Other items:

2014

2015

2016

2017

2018

Basic personal amount

-          Federal

-          Ontario

 

$11,138

$  9,670

 

$11,327

$  9,863

 

$11,474

$10,011

 

$11,635

$10,175

 

$11,809

$10,354

Spousal amount

Federal

-          Base amount

-          Maximum claim

Ontario

-          Base amount

-          Maximum claim

 

 

$11,138

$11,138

 

$9,032

$8,211

 

 

$11,327

$11,327

 

$9,212

$8,375

 

 

$11,474

$11,474

 

$9,350

$8,500

 

 

$11,635

$11,635

 

$9,500

$8,636

 

 

$11,809

$11,809

 

$9,671

$8,792

Disability amount

-          Federal

-          Ontario

 

$7,766

$7,812

 

$7,899

$7,968

 

$8,001

$8,088

 

$8,113

$8,217

 

$8,235

$8,365

Pension amount

-          Federal

-          Ontario

 

$2,000

$1,337

 

$2,000

$1,364

 

$2,000

$1,384

 

$2,000

$1,406

 

$2,000

$1,432

Age Amount see note 1

Federal

-          Amount

-          Threshold income

Ontario

-          Amount

-          Threshold income

 

 

$  6,916

$34,873

 

$  4,721

$35,146

 

 

$  7,033

$35,466

 

$  4,815

$35,849

 

 

$  7,125

$35,927

 

$  4,888

$36,387

 

 

$  7,225

$36,430

 

$  4,966

$36,969

 

 

$  7,333

$36,976

 

$  5,055

$37,635

Education amount see note 2

Federal

-          Full time

-          Part time

Ontario

-          Full time

-          Part time

 

 

$400

$120

 

$520

$156

 

 

$400

$120

 

$531

$159

 

 

$400

$120

 

$539

$161

 

 

$ 0

$ 0

 

$547 (January

$164 to Sept)

 

 

$ 0

$ 0

 

$0 (January

$0 to Sept)

 

 

Old Age Security / Canada Pension Plan Benefits

 

2014

2015

2016

2017

2018

Old Age Security Benefits

-         monthly - 1st quarter

-         monthly - 2nd quarter

-         monthly - 3rd quarter

-         monthly - 4th quarter

-          Annual Maximum

-          Clawback Threshold

 

     551.54

     551.54

     558.71

     563.74

  6,676.59

71,592.00

 

     563.74

     563.74

     564.87

     569.95

  6,786.90

72,808.00

 

     570.52

     570.52

     573.37

     578.53

  6,878.82

73,756.00

 

     578.53

     578.53

     583.74

     585.49

   6978.87

74,789.00

 

     586.66

     tba

      tba

      tba

   tba

75,910.00

CPP Maximum Monthly

            Retirement Benefit

  

  1,038.33

 

  

  1,065.00

 

  

  1,092.50

 

  

  1,114.17

 

  

  1,134.17

 

 

 

 

NOTES:

1.        Age amount (age 65 or older during the year) is reduced by 15% of each dollar of net income above the threshold amount.

2.        For a student enrolled part-time at a university, college, or educational institution certified by Human Resources Development Canada, claim amount also available for the total of the tuition fees paid, if more than $100 per institution.

3.        The interest rate used to calculate taxable benefits for employees and shareholders from interest-free and low-interest loans. Currently, to determine the interest rate for all refunds and overpayments, CCRA adds two percentage points to that figure. It adds four percentage points to determine the rate for all overdue taxes, penalties, interests, insufficient instalment payments, and unpaid employee tax deductions. This rate also applies to unpaid Canada Pension Plan contributions and Employment Insurance premiums.

4.        The information is current as of February 1, 2018