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Reaching Your CPP Contribution Maximum: What Workers Need to Know

  Understanding when you’ve hit the Canada Pension Plan (CPP) maximum contribution for the year can save you confusion—and help you make sense of your paycheques as the year goes on. The CPP is designed with an annual limit, meaning once you’ve contributed the maximum required amount, no further CPP deductions should come off your income for the rest of that calendar year. How CPP Contributions Work CPP contributions are based on: Your employment income The year’s maximum pensionable earnings (YMPE) The CPP contribution rate Each year, the federal government sets: A maximum amount of income on which CPP contributions apply (the YMPE) The maximum total contribution you and your employer must make Once your income reaches that threshold, your contributions stop automatically. How to Know You’ve Reached the Maximum Here are the simplest ways to tell: Check your pay stub Your pay stub shows year‑to‑date CPP contributions. Compare this number to the annual maximum ...

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Your daily horoscope: August 19, 2024

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

Not only is there a full moon on your birthday but Mercury’s influence will affect you as well, so promise yourself now that you will take an upbeat attitude to everything that occurs. Think happy and you will be happy – it’s as simple as that.

ARIES (March 21 - April 20):

The most important thing as the new week begins is that you follow the letter of the law, whatever that law may be. Under no circumstances can you cut corners or break rules, because you simply won’t get away with it. Be honest at all times.

TAURUS (April 21 - May 21):

Today’s full moon occurs at one of the more challenging angles of your chart, so you cannot afford to go to extremes no matter what the provocation might be. Whatever happens, at home or at work, you must stay in control of your emotions.

GEMINI (May 22 - June 21):

It may be annoying that your movements have been restricted over the past few days but there is nothing you can do about it so there is no point complaining. Once the current full moon begins to fade in midweek your options will improve.

CANCER (June 22 - July 23):

If you are thinking about investing some of your hard-earned cash in an investment opportunity of some kind you are strongly advised to think again. The full moon cuts across the financial axis of your chart, so play safe, at least for now.

LEO (July 24 - Aug. 23):

Today’s full moon will bring a partnership matter to a head but that’s a good thing because it means you will have to resolve it once and for all. Don’t let your emotions play any part in what you decide – a rational approach is an absolute must.

VIRGO (Aug. 24 - Sept. 23):

At some stage over the next 24 hours you will have no option but to request assistance from people who are more in tune with what is going on at your place of work. If you speak up and call in some favours you should get through okay.

LIBRA (Sept. 24 - Oct. 23):

You have been on a lucky streak of late but that streak may be coming to an end, so get serious about your obligations and don’t just assume that everything will turn out for the best. Above all, avoid the kind of impulsive actions you too often enjoy.

SCORPIO (Oct. 24 - Nov. 22):

No matter what happens today you must keep your composure, even though that may be difficult at times. There is nothing to be gained, and a lot to be lost, by losing your temper with people whose attitude rubs you up the wrong way.

SAGITTARIUS (Nov. 23 - Dec. 21):

If you act on the assumption that travel arrangements may be subject to last minute delays you are less likely to get angry when plans have to change. Don’t worry about being late, just make sure you get to your destination in the right frame of mind.



CAPRICORN (Dec. 22 - Jan. 20):

What happens today may come as a shock but if you think about it a bit you will have to admit that the signs were there and you should have seen it coming. Fortunately, it will look more of a big deal than it actually is.

AQUARIUS (Jan. 21 - Feb. 19):

Focus on what is real and refuse to let fears and fancies get the better of you. As today’s full moon takes place in your birth sign there could be occasions when your rational mind is too easily overpowered by other people’s emotional negativity.

PISCES (Feb. 20 - Mar. 20):

What you hear today may not be music to your ears but it’s not the end of the world either, so don’t overreact. If you can recognize that some people are getting distraught for no good reason you can have a few laughs at their expense.

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