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 2022 rates for CPP, EI, taxes and more.
Deduction |
Rates |
|---|---|
|
Employment Insurance (EI) Maximum insurable earnings: $60,300 |
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: $64,900 Self-employed maximum premium: $6,999.60 |
Employer and employee contribution rate: 5.70% Self-employed: 11.4% |
| Federal & Provincial income tax |
See tax tables for different income levels. Basic deduction:
Provincial: $10,817 |
|
Workers’ Compensation Maximum insurable: $67,100 per person |
Based on classification More information on how WorksafeNB determines their assessment rates is available on their website. |
| Minimum wage |
Until March 31st 2022: $11.75 per hour Starting April 1st, 2022: $12.75 per hour Starting October 1st, 2022: $13.75 per hour |
If you have questions about payroll deductions please call us at 1 888 234-2232 or email [email protected]