 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
|
 |
| Canadians – 2006 CPP Rates The maximum contribution to the Canada Pension Plan (CPP) by an employer and an employee will increase by $49.50 to $1,910.70 in 2006, while the maximum self-employed contribution will increase by $99 to $3,821.40. The maximums in 2005 were $1,861.20 and $3,722.40. The Canada Revenue Agency announced that the maximum pensionable earnings under the CPP for 2006 will be $42,100-up from $41,100 in 2005. Contributors who earn more than $42,100 in 2006 are not required or permitted to make additional contributions to the CPP. The basic exemption amount for 2006 remains $3,500. Individuals who earn less than that amount do not need to contribute to the CPP. The employee and employer contribution rates for 2006 will remain unchanged at 4.95%, and the self-employed contribution rate will remain unchanged at 9.9%.
|
 |
 |
 |
|