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 2019 rates for HAPSET, CPP, EI, taxes etc.
Deduction | Rate |
|---|---|
Health and Post-Secondary Education Tax (HAPSET) Exemption Threshold is $1.3million | Based on payroll Payroll tax of 2% on payrolls above exemption threshold More information on the Dept. of Finance website. |
Employment Insurance Maximum Insurable earnings: $53,100 Maximum employee premium: $860.22 Maximum employer premium: $1,204.31 | Employee: 1.62% Employer 1.62 x 1.4 = 2.268% Some employees related to the employer may be exempt from paying Employment Insurance - please read our article to learn more. |
CPP Maximum pensionable earnings: $57,400 Basic exemption: $3,500 Maximum employee premium: $2,748.90 Maximum employer premium: $2,748.90 | Employer and employee contribution: 5.1% Self-employed: 10.2% |
| Federal and Provincial income tax | Basic deduction:
|
Workers' Compensation Maximum insurable: $65,600 per person | Based on classification. Want to reduce your WorkplaceNL bill? read our information on PRIME. |
| Minimum wage | As of April 1, 2018: $11.15 |
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