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.
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.
Maximum Insurable earnings: $53,100
Maximum employee premium: $860.22
Maximum employer premium: $1,204.31
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.
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%
|Federal and Provincial income tax|
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|