The new year has started which means making updates to payroll deductions. To help you out, we’ve prepared a summary chart including all the 2021 rates for CPP, EI, taxes and more.
Deduction | Rates |
Employment Insurance (EI) Maximum insurable earnings: $56,300 | Employee: 1.58 per 100 Some employees related to the employer may be exempt from paying Employment insurance – please read our article to learn more. |
Maximum pensionable earnings: $61,600 Self-employed maximum premium: $6,332.90 | Employer and employee contribution rate: 5.45% Self-employed: 10.9% |
Federal & Provincial income tax | See tax tables for different income levels. Basic deduction:
Provincial: $10,564 |
Workers’ Compensation Maximum insurable: $67,100 per person | Based on classification For more information on WorksafeNB rates and our lobbying efforts please see our web post. |
Minimum wage | Starting April 1st 2021: $11.75 per hour April 1, 2020 - March 31, 2020: $11.70 |
If you have questions about payroll deductions please call us at 1 888 234-2232 or email [email protected]