Canada Revenue Agency has announced that employee and employer CPP contribution rates for 2019 will be 5.1 per cent, up from 4.95 per cent in 2018. For self-employed individuals, this means a total of 10.2% for both employer and employee shares.
Meanwhile, there is good news. The EI contribution rate has decreased from 1.66% in 2018 to 1.62% in 2019. For more information, click here.
The maximum employer and employee contribution to the CPP for 2019 will be $2,748.90 each, and the maximum self-employed contribution will be $5,497.80. The maximums in 2018 were $2,593.80 and $5,187.60, respectively.