The CRA has announced the CPP contribution limits for the upcoming year
The CRA has announced the CPP contribution limits for the upcoming year. The maximum pensionable earnings under the Canada Pension Plan (CPP) for 2020 will increase to $58,700 (from $57,400). The employee and employer contribution rates for 2020 will increase to 5.25% (up from 5.1%), and the self-employed contribution rate will increase to 10.5% (from 10.2%).
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