Canada Pension Plan (CPP) Rates:

 

2015

2016

2017

2018

2019

Yearly maximum

pensionable earnings

$53,600

$54,900

$55,300

$55,900

$57,400

Basic yearly exemption

$  3,500

$  3,500

$  3,500

$  3,500

$  3,500

Net contributory earnings

$50,100

$51,400

$51,800

$52,400

$53,900

Contribution rate

    4.95%

    4.95%

    4.95%

    4.95%

    5.10%

Employee's/employer's
maximum yearly contribution

$2,479.95

$2,544.30

$2,564.10

$2,593.80

$2,748.90

Self-employed yearly maximum

$4,959.90

$5,088.60

$5,128.20

$5,187.60

$5,497.80


Employment Insurance (EI) Rates:

 

2015

2016

2017

2018

2019

Yearly maximum insurable earnings

$49,500

$50,800

$51,300

$51,700

$53,100

Premium rate - employee's

1.88%

1.88%

1.63%

1.66%

1.62%

Maximum employee premium

930.60

955.04

836.19

858.22

860.22

Premium rate - employer's

(1.4 times employee's premium)

2.630%

2.630%

2.282%

2.282%

2.268%

Maximum employer premium

$1,302.84

$1,336.04

$1,170.67

$1,201.51

$1,204.31

 

Ontario Workplace Safety Insurance Board (WSIB):

 

2015

2016

2017

2018

2019

Yearly maximum insurable earnings ceiling - Ontario

 

$85,200

 

$88,000

 

$88,500

 

$90,300

 

$92,600

 

Automobile deduction limits:

 

2015

2016

2017

2018

2019

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)

 

.55

.49

 

.54

.48

 

.54

.48

 

.55

.49

 

.58

.52

General prescribed rate

- other

- car dealers

 

.27

.24

 

.26

.23

 

.25

.22

 

.26

.23

 

.28

.25

 

Prescribed interest rates/average exchange rates

 

2015

2016

2017

2018

2019

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%

2.0%

2.0%

2.0%

 

2.0%

tba

tba

tba

Average annual exchange rate

-          US dollar

-          UK pound

-          Euro

 

1.278711

1.953984

1.4182

 

1.324806

1.796212

1.4600

 

1.2986

1.6720

1.465

 

1.2957

1.7299

1.5302

 

tba

tba

tba

 


 

Other items:

2015

2016

2017

2018

2019

Basic personal amount

-          Federal

-          Ontario

 

$11,327

$  9,863

 

$11,474

$10,011

 

$11,635

$10,175

 

$11,809

$10,354

 

$12,069

$10,582

Spousal amount

Federal

-          Base amount

-          Maximum claim

Ontario

-          Base amount

-          Maximum claim

 

 

$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

 

 

$12,069

$12,069

 

$9,883

$8,985

Disability amount

-          Federal

-          Ontario

 

$7,899

$7,968

 

$8,001

$8,088

 

$8,113

$8,217

 

$8,235

$8,365

 

$8,416

$8,549

Pension amount

-          Federal

-          Ontario

 

$2,000

$1,364

 

$2,000

$1,384

 

$2,000

$1,406

 

$2,000

$1,432

 

$2,000

$1,463

Age Amount see note 1

Federal

-          Amount

-          Threshold income

Ontario

-          Amount

-          Threshold income

 

 

$  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

 

 

$  7,494

$37,790

 

$  5,166

$38,463

Education amount see note 2

Federal

-          Full time

-          Part time

Ontario

-          Full time

-          Part time

 

 

$400

$120

 

$531

$159

 

 

$400

$120

 

$539

$161

 

 

$ 0

$ 0

 

$547 (January

$164 to Sept)

 

 

 

 


 

Old Age Security / Canada Pension Plan Benefits

 

2015

2016

2017

2018

2019

Old Age Security Benefits

-         monthly - 1st quarter

-         monthly - 2nd quarter

-         monthly - 3rd quarter

-         monthly - 4th quarter

-          Annual Maximum

-          Clawback Threshold

 

     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

     589.59

     596.97

     600.85

  7,122.21

75,910.00

 

     601.45

     tba

      tba

      tba

   tba

77,580.00

CPP Maximum Monthly

            Retirement Benefit

  

  1,065.00

 

  

  1,092.50

 

  

  1,114.17

 

  

  1,134.17

 

  

  1,154.58

 

 

 

 

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 January 2, 2019