![]() However, for the following situations, we recommend using the PDOC for more accurate calculations: The provincial and federal tables are designed to accurately calculate the deductions provided by the CPP additional contributions in most situations. It will help you determine the payroll deductions for your employees or pensioners. It contains tables for federal and provincial tax deductions, CPP contributions and EI premiums. This guide is intended for the employer and the payer. See the “How to use the tables in this guide” section for instructions. ![]() Generally, users will be consulting the Section B(i) and Section B(ii) tables as follows: Pensionable income Therefore, in order to accurately calculate CPP2 contributions, users are required to keep track of the year-to-date pensionable income during the year.Ī new table has been added to help users calculate the CPP2 contributions (Section B(ii)). Second additional CPP contributions (CPP2)Īs per Canada Pension Plan Regulations Subsection 5.1 (1), for the year 2024 and each subsequent year, pensionable earnings between the Year’s Maximum Pensionable Earnings (YMPE) and a second earnings ceiling, referred to as the Year’s Additional Maximum Pensionable Earnings (YAMPE), are subject to CPP2 contributions. We recommend that you use the new payroll deductions tables in this guide for withholding starting with the first payroll in January 2024. At the time of publishing, some of these proposed changes were not law. This guide reflects some income tax changes recently announced which, if enacted as proposed, would be effective January 1, 2024. The major changes made to this guide since the last edition are outlined. Example – Pensionable Income Above YMPE.Calculate total tax and the tax deduction for the pay period.Step-by-step calculation of tax deductions.Deducting tax from income not subject to CPP contributions or EI premiums.Additional information about payroll deductions.Section E – Provincial tax deduction tables.Section D – Federal tax deduction tables.Section B(ii) - Second additional CPP contributions tables.Section B(i) - CPP contributions tables.Example of an employee earning more than the YAMPE.Form TD1X, Statement of Commission Income and Expenses for Payroll Tax Deductions.Chart 4 – 2024 British Columbia claim codes.Personal tax credits returns (TD1 forms).Second additional CPP contribution for 2024.Canada Pension Plan (CPP) and Employment Insurance (EI).Chart 2 – 2024 British Columbia tax rates and income thresholds.Chart 1 – 2024 federal tax rates and income thresholds. ![]() Which provincial or territorial tax table should you use?.What if your pay period is not in this guide?.Second additional CPP contributions (CPP2). ![]()
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