联邦所得税 Federal tax rates and income thresholds are as follows:
• 16% of taxable income less than or equal to $35,595;
• 22% of taxable income greater than $35,595 and less than or equal to $71,190;
• 26% of taxable income greater than $71,190 and less than or equal to $115,739; and
• 29% of taxable income greater than $115,739.
安省所得税 Ontario’s tax rates and income thresholds for 2005 are revised as follows:
• 6.05% on taxable income less than or equal to $34,010;
• 9.15% on taxable income greater than $34,010 and less than or equal to $68,020; and
• 11.16% on taxable income greater than $68,020.
CPP pensionable earnings ceiling for 2005 up to $41,100
Ottawa, October 20, 2004... The Canada Revenue Agency announced today that the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2005 will be $41,100—up from $40,500 in 2004. The new ceiling was calculated according to a CPP legislated formula that takes into account the growth in average weekly wages and salaries in Canada.
Contributors who earn more than $41,100 in 2005 are not required or permitted to make additional contributions to the CPP.
The basic exemption amount for 2005 remains $3,500. Individuals who earn less than that amount do not need to contribute to the CPP.
The employee and employer contribution rates for 2005 will remain unchanged at 4.95%, and the self-employed contribution rate will remain unchanged at 9.9%.
The maximum employer and employee contribution to the plan for 2005 will be $1,861.20, and the maximum self employed contribution will be $3,722.40. The maximums in 2004 were $1,831.50 and $3,663.00.