Maximum federal EI contributions will fall by over 12% in 2017.
The Canada Employment Insurance Commission (CEIC) recently published the 2017 Employment Insurance (EI) premium rates for employees and confirmed that federal rates will decrease to $1.63 (from $1.88) per $100 of insurable earnings in 2017. The maximum insurable earnings for 2017 will increase to $51,300 (from $50,800).
The maximum employee contribution for 2017 will fall to $836 (from $955 in 2016). The maximum employer contribution for 2017 will fall to $1,171 (from $1,337 in 2016). This represents a decrease in 2017 premiums of over 12%.
For more information, contact your KPMG adviser.
Information is current to September 20, 2016. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500