|
2017 |
2018 |
2019 |
2020 |
2021 |
Yearly maximum pensionable earnings |
$55,300 |
$55,900 |
$57,400 |
$58,700 |
$61,600 |
Basic yearly exemption |
$ 3,500 |
$ 3,500 |
$ 3,500 |
$ 3,500 |
$ 3,500 |
Net contributory earnings |
$51,800 |
$52,400 |
$53,900 |
$55,200 |
$58,100 |
Contribution rate |
4.95% |
4.95% |
5.10% |
5.25% |
5.45% |
Employee's/employer's |
$2,564.10 |
$2,593.80 |
$2,748.90 |
$2,898.00 |
$3,166.45 |
Self-employed yearly maximum |
$5,128.20 |
$5,187.60 |
$5,497.80 |
$5,796.00 |
$6,332.90 |
Employment Insurance (EI) Rates:
|
2017 |
2018 |
2019 |
2020 |
2021 |
Yearly maximum insurable
earnings |
$51,300 |
$51,700 |
$53,100 |
$54,200 |
$56,300 |
Premium rate - employee's |
1.63% |
1.66% |
1.62% |
1.58% |
1.58% |
Maximum employee premium |
836.19 |
858.22 |
860.22 |
856..36 |
889.54 |
Premium rate - employer's (1.4 times employee's
premium) |
2.282% |
2.282% |
2.268% |
2.268% |
2.268% |
Maximum employer premium |
$1,170.67 |
$1,201.51 |
$1,204.31 |
$1,198.90 |
$1,245.36 |
|
2017 |
2018 |
2019 |
2020 |
2021 |
Yearly maximum insurable
earnings ceiling - |
$88,500 |
$90,300 |
$92,600 |
$95,400 |
$102,800 |
Automobile
deduction limits:
|
2017 |
2018 |
2019 |
2020 |
2021 |
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 |
.58 .52 |
.59 .53 |
.59 .53 |
General prescribed rate - other - car dealers |
.25 .22 |
.26 .23 |
.28 .25 |
.28 .25 |
.28 .25 |
|
2017 |
2018 |
2019 |
2020 |
2021 |
Prescribed rates - loans - note 2 - 1st quarter - 2nd quarter - 3rd quarter -
4th quarter |
1.0% 1.0% 1.0% 1.0% |
1.0% 2.0% 2.0% 2.0% |
2.0% 2.0% 2.0% 2.0% |
2.0% 2.0% 1.0% 1.0% |
1.0% tba tba tba |
Average annual exchange rate - US dollar -
-
Euro |
1.2986 1.6720 1.465 |
1.2957 1.7299 1.5302 |
1.3269 1.6945 1.4856 |
tba tba tba |
tba tba tba |
Other
items:
2017 |
2018 |
2019 |
2020 |
2021 |
|
Basic personal amount - Federal -
Ontario |
$11,635 $10,175 |
$11,809 $10,354 |
$12,069 $10,582 |
$13,229 $10,783 |
$13,808 $10,880 |
Spousal amount Federal - Base amount Ontario - Base amount |
$11,635 $8,500 |
$11,809
$ 8,782 |
$12,069
$ 8,985 |
$13,229
$ 9,156 |
$13,808
$ 9,238 |
Disability amount - Federal -
|
$8,113 $8,217 |
$8,235 $8,365 |
$8,416 $8,549 |
$8,576 $8,712 |
$8,662 $8,970 |
Pension amount - Federal -
|
$2,000 $1,406 |
$2,000 $1,432 |
$2,000 $1,463 |
$2,000 $1,491 |
$2,000 $1,504 |
Age Amount - see note 1 Federal - Amount -
Threshold income - Amount -
Threshold income |
$ 7,225 $36,430
$ 4,966 $36,969 |
$ 7,333 $36,976
$ 5,055 $37,635 |
$ 7,494 $37,790
$ 5,166 $38,463 |
$ 7,637 $38,508
$ 5,265 $39,193 |
$ 7,713 $38,893
$ 5,312 $39,546 |
|
2017 |
2018 |
2019 |
2020 |
2021 |
Old Age Security Benefits - monthly - 1st quarter - monthly - 2nd quarter - monthly - 3rd quarter - monthly - 4th quarter - Annual Maximum -
Clawback Threshold |
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 |
601.45 601.45 607.46 613.53 7,271.67 77,580.00 |
613.53 613.53 613.53 614.14 7,364.19 79,054.00 |
615.37 tba tba tba tba 79,845.00 |
CPP Maximum Monthly
Retirement Benefit |
1,114.17
|
1,134.17
|
1,154.58
|
1,175.83
|
1,203.75
|
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.
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.
3. The information is
current as of January 4, 2021