|
|
2021 |
2022 |
2023 |
2024 |
2025 |
|
Yearly maximum pensionable earnings |
$61,600 |
$64,900 |
$66,600 |
$68,500 |
$71,300 |
|
Basic yearly exemption |
$ 3,500 |
$ 3,500 |
$ 3,500 |
$ 3,500 |
$ 3,500 |
|
Net contributory earnings |
$58,100 |
$61,400 |
$63,100 |
$65,000 |
$67,800 |
|
Contribution rate |
5.45% |
5.70% |
5.95% |
5.95% |
5.95% |
|
Employee's/employer's |
$3,166.45 |
$3,499.80 |
$3,754.45 |
$3,867.50 |
$4,034.10 |
|
Self-employed yearly maximum |
$6,332.90 |
$6,999.60 |
$7,508.90 |
$7,735.00 |
$8,068.20 |
CPP2 for 2025:
4% on earnings between $71,300 and $81,200
Employment Insurance (EI) Rates:
|
|
2021 |
2022 |
2023 |
2024 |
2025 |
|
Yearly maximum insurable
earnings |
$56,300 |
$60,300 |
$61,500 |
$63,200 |
$65,700 |
|
Premium rate - employee's |
1.58% |
1.58% |
1.63% |
1.66% |
1.64% |
|
Maximum employee premium |
889.54 |
952.74 |
$1,002.45 |
$1,049.12 |
$1,077.48 |
|
Premium rate - employer's (1.4 times employee's
premium) |
2.212% |
2.212% |
2.282% |
2.33% |
2.30% |
|
Maximum employer premium |
$1,245.36 |
$1,333.84 |
$1,403.43 |
$1,468.77 |
$1,508.47 |
|
|
2021 |
2022 |
2023 |
2024 |
2025 |
|
Yearly maximum insurable
earnings ceiling - |
$97,308 |
$100,422 |
$110,000 |
$112,500 |
$117,000 |
Automobile
deduction limits:
|
|
2021 |
2022 |
2023 |
2024 |
2025 |
|
Capital cost ceiling (plus taxes) |
$30,000 |
$34,000 |
$36,000 |
$37,000 |
$38,000 |
|
Deductible lease amount (plus applicable taxes) |
$800 |
$900 |
$950 |
$1,050 |
$1,100 |
|
Maximum allowable interest per month |
$300 |
$300 |
$300 |
$350 |
$350 |
|
Tax-exempt allowances - 1st 5000 km - Balance of kms (Add: .04/km for YK/NWT/NU) |
.59 .53 |
.61 .55 |
.68 .62 |
.70 .64 |
.72 .66 |
|
General prescribed rate - other - car dealers |
.28 .25 |
.29 .26 |
.33 .30 |
.33 .30 |
.34 .31 |
|
|
2021 |
2022 |
2023 |
2024 |
2025 |
|
CRA interest on tax arrears - 1st quarter - 2nd quarter - 3rd quarter -
4th quarter |
5.0% 5.0% 5.0% 5.0% |
5.0% 5.0% 6.0% 7.0% |
8.0% 9.0% 9.0% 9.0% |
10.0% 10.0% 9.0% 9.0% |
8.0% tba tba tba |
|
Average annual exchange rate - US dollar -
-
Euro |
1.2535 1.7246 1.4828 |
1.3013 1.6076 1.3696 |
1.3497 1.6784 1.4597 |
1.3698 1.7504 1.4818 |
tba tba tba |
Other
items:
|
2021 |
2022 |
2023 |
2024 |
2025 |
|
|
Basic personal amount - Federal -
Ontario |
$13,808 $10,880 |
$14,398 $11,141 |
$15,000 $11,865 |
$15,705 $12,399 |
$16,129 $12,747 |
|
Spousal amount Federal - Base amount Ontario - Base amount |
$13,808 $ 9,238 |
$14,398 $ 9,460 |
$15,000 $10,075 |
$15,705 $10,528 |
$16,129
$10,823 |
|
Disability amount - Federal -
|
$8,662 $8,970 |
$8,870 $9,001 |
$9,428 $9,586 |
$ 9,872 $10,017 |
$10,138 $10,298 |
|
Pension amount - Federal -
|
$2,000 $1,504 |
$2,000 $1,541 |
$2,000 $1,641 |
$2,000 $1,714 |
$2,000 $1,762 |
|
Age Amount Federal - Amount -
Threshold income - Amount -
Threshold income |
$ 7,713 $38,893 $ 5,312 $39,546 |
$ 7,898 $39,826 $ 5,440 $40,495 |
$ 8,396 $42,335 $ 5,793 $43,127 |
$ 8,790 $44,325 $ 6,054 $45,068 |
$ 9,028 $45,522
$ 6,233 $46,330 |
|
|
2021 |
2022 |
2023 |
2024 |
2025 |
|
Old Age Security Benefits - monthly - 1st quarter - monthly - 2nd quarter - monthly - 3rd quarter - monthly - 4th quarter - Annual Maximum -
Clawback Threshold |
615.37
618.45 626.49 635.26 7,486.71 79,845.00 |
642.25
648.67 666.83 685.50 7,929.75 81,761.00 |
687.56
691.00 698.60 707.68 8,354.52 86,912.00 |
713.34 713.34 718.33 727.67 8,618.04 90,997.00 |
727.67 tba tba tba tba 93,454.00 |
|
CPP Maximum Monthly
Retirement Benefit |
1,203.75
|
1,253.59
|
1,306.57
|
1,364.60
|
1,433.00
|
NOTE:
The information is
current as of February 6, 2025 (E&OE).