November 4, 2006
CRA News Release: CPP pensionable earnings ceiling up for 2007
The Canada Revenue Agency announced on November 2, 2006 that the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2007 will be $43,700-up from $42,100 in 2006.
According to the CRA news release, "contributors who earn more than $43,700 in 2007 are not required or permitted to make additional contributions to the CPP. The basic exemption amount for 2007 remains $3,500. Individuals who earn less than that amount do not need to contribute to the CPP."
For more information, please see the CRA web site at:
http://www.cra-arc.gc.ca/newsroom/releases/2006/nov/nr061102-e.html
Posted by Taxes.ca Editorial Team [permalink]
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