The Employment Insurance premium rate for 2022 is unchanged at 1.58%. Yearly maximum insurable earnings are set at $60,300, making the maximum employee premium $952.74. As in previous years, employer premiums are 1.4 times the employee premium. The maximum employer premium for 2022 is therefore $1,333.84. The information presented is only of a general nature, […]
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The Quebec Pension Plan contribution rate for 2022 is set at 6.15% of pensionable earnings for the year. Maximum pensionable earnings for the year will be $64,900, and the basic exemption is unchanged at $3,500. The maximum employer and employee contributions to the plan for 2022 will be $3,776.10 each. The information presented is only
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The Canada Pension Plan contribution rate for 2022 is set at 5.7% of pensionable earnings for the year. Maximum pensionable earnings for the year will be $64,900, and the basic exemption is unchanged at $3,500. The maximum employer and employee contributions to the plan for 2022 will be $3,499.80 each, and the maximum self-employed contribution
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Dollar amounts on which individual non-refundable federal tax credits for 2022 are based, and the actual tax credit claimable, will be as follows:
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The indexing factor for federal tax credits and brackets for 2022 is 2.4%. The following federal tax rates and brackets will be in effect for individuals for the 2022 tax year. Income level Federal tax rate $14,398 – $50,197 15% $50,198 – $100,392 20.5% $100,393 – $155,625 26% $155,626 – $221,708 29% Over $221,708 33%
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Each new tax year brings with it a listing of tax payment and filing deadlines, as well as some changes with respect to tax saving and planning strategies. Some of the more significant dates and changes for individual taxpayers for 2022 are listed below. RRSP deduction limit and contribution deadline The RRSP current year contribution
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