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Federal Rate Changes ‑ Canada Pension Plan, Employment Insurance and Federal Basic Exemption

Posted by Human Resources on January 12, 2023 in Human Resources

For the individuals who have reached the maximum Canada Pension Plan (CPP) and Employment Insurance (EI) contribution amounts in 2022, your contributions will recommence in January 2023.

For the 2023 the maximum contribution amounts are;

Canada Pension Plan:  $3,754.45 based on an annual maximum salary of $66,600

Employment Insurance: $1,002.45 based on an annual maximum salary of $61,500

As of January 2023, the Federal Basic Personal Exemption amount has increased to $15,000.

Employees are not required to complete a new TD1 form when basic personal exemption amounts change.

If there has however been a change to your tax credit amounts, it is suggested new TD1 forms are completed.

The federal and provincial forms can be found on the following link: https://www.canada.ca/en/revenue-agency/services/forms-publications/td1-personal-tax-credits-returns/td1-forms-pay-received-on-january-1-later.html

Please submit completed forms to payforms@dal.ca

If you have questions, please contact the Payroll team at payroll@dal.ca