Tax Tips

  • Canada Revenue Agency (CRA) – This web site provides information on personal taxes, business taxes, payroll, forms and various other information that may be required
  • Service Ontario – This web site provides individuals and businesses with online services to register a business or incorporate a business
  • Personal tax filing deadline April 30 and for self-employed is June 15
  • Payment of all personal taxes deadline is April 30
  • Payroll remittances must be filed and paid by the 15th of each month following the reporting period
  • Filing of T4s must be completed by the end of February
  • Filing of Corporate tax returns must be filed within 6 months after year-end, but any outstanding taxes must be remitted within 90 days of year-end
  • Maximum annual insurance earnings for 2026 is $68,900
  • EI Premium rate for 2025 is 1.63%
  • EI maximum annual employee premium for 2026 is $1,123.07
  • CPP maximum pensionable earnings for 2025 is $71,300 (2026 not finalized)
  • CPP annual basic exemption for 2025 is $3,500  (2026 not finalized)
  • CPP maximum contributory earnings for 2025 is $67,800  (2026 not finalized)
  • CPP contribution rate for 2025 is 5.95%  (2026 not finalized)
  • CPP maximum employee contribution for 2025 is $4,034.10. CPP2 is $396.00 (2026 not finalized)

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