January 24, 2014 | Posted in Personal Tax for Canadians | By

Although there are no increases in the CPP contribution rate and the EI premium rate in 2014, if your earning for the year will exceed the maximum pensionable/insurable earnings, your annual CPP and EI contributions may still go up slightly (by approximately 2.9% and 2.5% respectively) due to the increases in the maximum pensionable/insurable earnings.

There are no changes in the federal and provincial income tax rates, except for New Brunswick.

For comparison, the attachment shows the comparative CPP/QPP contribution rates, EI premium rates, federal and provincial income tax rates for 2013 and 2014.

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