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2020 Payroll Deduction Table for Newfoundland and Labrador

The new year is coming, which means making updates to payroll deductions. To help you out, we’ve prepared a summary chart including all the 2020rates for HAPSET, CPP, EI, taxes etc.

 

Deduction

Rate

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: $54,200
Maximum employee premium: $856.36
Maximum employer premium: $1,198.90 

Employee: 1.58
Employer: 1.58 x 1.4 = 2.21%

Some employees related to the employer may be exempt from paying Employment Insurance - please read our article to learn more.

CPP

Maximum pensionable earnings: $58,700
Basic exemption: $3,500
Maximum employee premium: $2,898.00
Maximum employer premium: $2,898.00

Self-employed maximum premium: $5,796.00

Employer and employee contribution rate: 5.25%

Self-employed: 10.5%

Federal and Provincial income tax

Basic deduction:

  • Federal: $12,298
  • Provincial: $9,498

Workers' Compensation

Maximum insurable: $66,980 per person

Based on classification.

Want to reduce your WorkplaceNL bill? read our information on PRIME.

Minimum wage$11.40 / hour