CPP, EI, Provincial and Federal Tax Rates

The government requires all employees to deduct CPP (Canada Pension Plan), EI (Employment Insurance) and Income Tax. The current rates for each of these deductions are listed below.

CPP Rates 2024 (Source)

Contribution Rate	Maximum Pensionable Earnings	Annual Basic Exemption	Annual Maximum Contribution
5.95%	$68,500.00	$3,500.00	$3,867.50

Second additional CPP contribution (CPP2) 2024 (Source)

Contribution Rate	Maximum Pensionable Earnings	Annual Maximum Contribution
4.00%	$73,200.00	$188

Employment Insurance (EI) Rates 2024 (Source)

Premium Rate	Maximum Insurable Earnings	Annual Maximum Premium
1.66%	$63,200.00	$1049.12

Ontario Income Tax Rates 2024 (Source)

Annual taxable income ($) from	Annual taxable income ($) to	Provincial tax rate
$0.00	$51,446.00	5.05%
$51,446.01	$102,894.00	9.15%
$102,894.01	$150,000.00	11.16%
$150,000.01	$220,000.00	12.16%
$220,000.01	and over	13.16%

Federal Tax Rates 2024 (Source)

Annual taxable income ($) from	Annual taxable income ($) to	Provincial tax rate
$0.00	$55,867.00	15%
$55,867.01	$111,733.00	20.5%
$111,733.01	$173,205.00	26%
$173,205.01	$246,752.00	29%
$246,752.01	and over	33%

For More Information:

Visit The Canada Revenue Agency Website View Pension Rates at a Glance