To help you out with payroll deductions, we’ve prepared a summary chart including all the 2021 rates for HAPSET, CPP, EI, taxes etc.
Health and Post-Secondary Education Tax (HAPSET)
Exemption Threshold is $1.3 million
Based on payroll
Payroll tax of 2% on payrolls above exemption threshold
More information on the Dept. of Finance website.
Employment Insurance (EI)
Maximum insurable earnings: $56,300
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%
|Federal and Provincial income tax|
Maximum insurable: $66,980 per person
Based on classification.
Want to reduce your WorkplaceNL bill? read our information on PRIME.
As of April 1, 2021: $12.50
As of October 1, 2021: $12.75