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 2020 rates 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: $150,473 or less enter $13,229 More than $214,368 enter $12,298 Between $150,473 and $214,368 either: get form TD1-WS and calculate a partial claim; or enter $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

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:

$150,473 or less enter $13,229
More than $214,368 enter $12,298
Between $150,473 and $214,368 either:
- get form TD1-WS and calculate a partial claim; or
- enter $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

Post Date: December 11, 2019