I looked at the government website and didn't really understand it. How do I figure out how much I have to put in to cpp and ei throughout the year before I stop paying into them?
Any help would be great.
Thanks
Colin
I looked at the government website and didn't really understand it. How do I figure out how much I have to put in to cpp and ei throughout the year before I stop paying into them?
Any help would be great.
Thanks
Colin
1990 Poonstang
1990 Sexplorer
1967 Chevelle Panty Dropper
2003 GMC SLE 1500HD Donkey Hauler
2013 Ram Longhorn w/ a 6" lift and 35s
2017 Nissan Maxima
are you self employed?
all i know is for me, my employer deducts it from my pay
and so far, every year i get a refund on those, due to CPP EI over payment
its not a big deal how much you pay, as it will work it self out after filing taxes
at least thats how i see it
CPP max is $2,356.20 for 2013
EI max for an employee is $891.12 2013
These amounts are for the employee side only. If you are self employed you will also need to contribute the employer side as well. For CPP it's 1 to 1 and EI something like 1 to 1.5.
You can use the cra calculator they have to determine how much CPP and EI to take off each pay cheque for an employee depending on pay schedule and amount of course. It will also tell you the employer side and total you need to remit for each pay period
http://www.cra-arc.gc.ca/esrvc-srvce.../pdoc-eng.html
Last edited by SilverGS; 03-08-2013 at 10:47 AM.
Originally posted by R!zz0
Did Calgary have a riot in 2004?Originally posted by rage2
Just boobs. That's how we party.
I'm an employee. By those numbers and what I've contributed so far, I only have a few more cheques to contribute to those for the year.
Thanks
1990 Poonstang
1990 Sexplorer
1967 Chevelle Panty Dropper
2003 GMC SLE 1500HD Donkey Hauler
2013 Ram Longhorn w/ a 6" lift and 35s
2017 Nissan Maxima
.
Last edited by Cos; 12-30-2016 at 02:43 PM.
Originally posted by adam c
Line goes up, line goes down, line does squiggly things and fucks Alberta"The stone age didn't end because we ran out of stones"
Is this a humble brag?Originally posted by colinderksen
I'm an employee. By those numbers and what I've contributed so far, I only have a few more cheques to contribute to those for the year.
Thanks
FYI, telling people how soon your CPP and EI contribution stops also let them know how much you make.
And yes, if you make over $120K per year, those payments should stop some time in April.
Sort of. If you get a massive bonus in January, but make $40,000k per year, you would still be done pretty early.Originally posted by Xtrema
Is this a humble brag?
FYI, telling people how soon your CPP and EI contribution stops also let them know how much you make.
And yes, if you make over $120K per year, those payments should stop some time in April.
Bad bonus year = later CPP/EI raise
.
Last edited by Cos; 12-30-2016 at 02:43 PM.
Originally posted by adam c
Line goes up, line goes down, line does squiggly things and fucks Alberta"The stone age didn't end because we ran out of stones"
They only deduct these up to certain amount of income. Don't quote me but I believe it's $45K for CPP.Originally posted by Cos
Yeah I never understood that. Tax is calculated to last the year. So why isnt CPP or EI? Wouldnt you take all 26 cheques or however many you have and split the 2,356.20 to pay $91.00 evenly through the whole year? Regardless of how much you make?
I just never that but a nice mid-year bump is always nice.
Whatever you make beyond that, no deduction.
So if you are ones who get bonus or RRSP contribution early on in the year, CPP and EI contribution also may stop earlier.
Deducting $91 per month may make sense for ones who make more than $45K per year. It doesn't for people who make less and contributes less.
lol so much fail. Apparently I got a raise last year I didn't even notice.
And with the raise my CPP contributions dropped and taxes went up. Worked out to be only few dollars difference. Didn't catch my eye.
Didn't mean to brag. I figured everyone would be finished around the same time.
How much per cheque that is taken off is based on some percentage of what you make?
1990 Poonstang
1990 Sexplorer
1967 Chevelle Panty Dropper
2003 GMC SLE 1500HD Donkey Hauler
2013 Ram Longhorn w/ a 6" lift and 35s
2017 Nissan Maxima
Easy enough to find with a quick googleOriginally posted by colinderksen
Didn't mean to brag. I figured everyone would be finished around the same time.
How much per cheque that is taken off is based on some percentage of what you make?
http://www.cra-arc.gc.ca/tx/bsnss/tp...#_Toc337712808
CPP 4.95% to a maximum of $2,356.20
EI 1.88% to a maximum of $891.12
Originally posted by max_boost
Hey baller, any problem money can solve is no problem at all. Don't sweat it.
.
Last edited by Cos; 12-30-2016 at 02:43 PM.
Originally posted by adam c
Line goes up, line goes down, line does squiggly things and fucks Alberta"The stone age didn't end because we ran out of stones"
Is it bragging if mine have already stopped?
Except as mentioned earlier, if you get a lump sum early in the year (ie bonus), it gets skewed quite a bit.Originally posted by Cos
Ah that makes more sense. So if you make $90k you would stop at exactly halfway through the year. If you make $180k you stop 1/4 of the way through.
Originally posted by max_boost
Hey baller, any problem money can solve is no problem at all. Don't sweat it.
if its due to unemployment... then noOriginally posted by mrsingh
Is it bragging if mine have already stopped?
The only people who have bragging rights about CPP and EI are the people who are successful at receiving support; Or the few that do not contribute in the first place.
Or parents receiving CPP right now. It's is a Ponzi scheme after all.Originally posted by e31
The only people who have bragging rights about CPP and EI are the people who are successful at receiving support; Or the few that do not contribute in the first place.
Mainly it, share and annual bonuses all paid out in the first two months of the year!Originally posted by Strider
Except as mentioned earlier, if you get a lump sum early in the year (ie bonus), it gets skewed quite a bit.
nm
Last edited by e36bmw///; 03-05-2018 at 11:26 AM.