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2021 Payroll Deductions Table for Ontario

We have created a table below which shows all payroll taxes for 2021

Employer Health Tax

This is a tax paid by the employer and not deducted from employees.

Exemption Threshold is $1 million

Tax rate above the threshold is .98% to 1.95% depending upon how much over the threshold the employer is.

Please see the Ministry of Finance website for more information.

Employment Insurance

 

Maximum insurable earnings: $56,300

Maximum employee premium: $889.54

Maximum employer premium: $1,245.36

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: $61,600

Basic exemption: $3,500

Maximum employee premium: $3,166.45

Maximum employer premium: $3,166.45

 

Self-employed maximum premium: $6,332.90

Employer and employee contribution rate: 5.45%

 

Self-employed: 10.9%

Federal  & Provincial income tax

Basic deduction:

Federal:

  • $151,978 or less enter $13,808
  • More than $216,511 enter $12,421
  • Between $151,978 and $216,511 either:
  • Get form TD!-WS and calculate a partial claim; or
  • Enter $12,421
 

Provincial: $13,800

 

Workers’ Compensation WSIB

 

Maximum insurable: $102,800.00 per person

Based on classification. See premium rates for 2021.

 

Minimum wage for Ontario is $14.25 until October 1st, 2021. After October 1st it will be increased by the Consumer Price Index for 2021.

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Topics in this Article: Payroll Taxes