$1,500 to $4,500 Monthly
Gross Pay |
---|
CPP |
Tax |
Net Pay |
Remittance |
1,500.00 | 2,000.00 | 2,500.00 | 3,000.00 | 3,500.00 | 4,000.00 | 4,500.00 |
(71.90) | (101.65) | (131.40) | (161.15) | (190.90) | (220.65) | (250.40) |
(68.56) | (186.13) | (303.69) | (421.26) | (538.81) | (656.38) | |
1,428.10 | 1,829.79 | 2,182.47 | 2,535.16 | 2,887.84 | 3,240.54 | 3,593.22 |
143.80 | 271.86 | 448.93 | 625.99 | 803.06 | 980.11 | 1,157.18 |
$5,000 to $10,000 Monthly
Gross Pay |
---|
CPP * |
Tax |
Net Pay |
Remittance |
5,000.00 | 5,500.00 | 6,000.00 | 7,000.00 | 8,000.00 | 9,000.00 | 10,000.00 |
(280.15) | (309.90) | (339.65) | (399.15) | (458.65) | (518.15) | (577.65) |
(783.35) | (928.14) | (1,073.65) | (1,375.60) | (1,677.55) | (1,979.50) | (2,300.19) |
3,936.50 | 4,261.96 | 4,586.70 | 5,225.25 | 5,863.80 | 6,502.35 | 7,122.16 |
1,343.65 | 1,547.94 | 1,752.95 | 2,173.90 | 2,594.85 | 3,015.80 | 3,455.49 |
For other calculations, use the "CRA Payroll Calculator"
Remittances |
---|
Remittance = 2 x CPP deduction + Federal and Provincial tax deductions |
The monthly remittance must be received at CRA by the 15th of the month following the payment of the payroll |
The cheque for the remittance should be payable to the "Receiver General" |
New CPP Calculation | |||||
---|---|---|---|---|---|
Rate | From | To | Employee Max | Self-Employed Max(2x) | |
CPP1 | 5.95% | $3,500 | $71,300 | $4,034.10 | $8,068.20 |
CPP2 (new rate) | 4.00% | $71,300 | $81,200 | $396.00 | $792.00 |
Max CPP | $4,430.10 | $8,860.20 | |||
You should stop deducting CPP when the employee reaches the maximum contribution for the year. Then the monthly remittances will be reduced accordingly. |
Chartered Professional Accountants LLP
Please send eTransfers to
etransfer@zenally.cpa
All personal customer and business information submitted through this website will be held confidential. Privacy Policy
ZENALLY
Chartered Professional Accountants LLP
Copyright 2025 All Rights Reserved
DISCLAIMER: Any accounting, business, or tax advice contained on this website is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion.
If you are interested in talking more about any topic on our website or specifically how the information would likely impact you, we'd be happy to chat.