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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 for August 9, 2024

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

If you encourage a loved one to be more adventurous this year their efforts will benefit you in various ways as well. Most importantly they will appreciate your willingness to let them spread their wings and reward your generosity with an even deeper love than before.

ARIES (March 21 - April 20):

Nothing will disturb you today. No matter how worrying the news that comes your way may be you will just shrug it off and get on with your life. As far as you are concerned it’s not worth getting worked up over things that cannot be changed.

TAURUS (April 21 - May 21):

You can be somewhat obsessive at times but that is not necessarily a bad thing and today it could even be a good thing in that it keeps you searching for answers to life’s big questions. Don’t stop probing until you understand everything.

GEMINI (May 22 - June 21):

Affairs of the heart are under generous stars at the moment, so if there is someone you are attracted to don’t be afraid to approach them, because you may get a warmer response than expected. You must though be serious in your intentions.

CANCER (June 22 - July 23):

Make sure that your personal feelings for a certain individual do not encroach on your working relationship. When there is business to be done it is essential that you adopt a thoroughly professional attitude. After work though it’s another story!

LEO (July 24 - Aug. 23):

Do something dramatic over the next 24 hours, something that cannot be ignored. Cosmic activity in and around your birth sign urges you to soar above and beyond the limits you have imposed on yourself. Aim higher, try harder and make great things happen.

VIRGO (Aug. 24 - Sept. 23):

You may not want to accept that a colleague has done better than you on the work front but it’s a fact and there is no point moaning about it. Look carefully at what brought them success, then find ways to adapt their methods for your own use.

    LIBRA (Sept. 24 - Oct. 23):

    Go out of your way to mix with people socially today, even if you still have a heap of work to get through. If you force yourself to knuckle down and get it all done you could miss out on some interesting and potentially profitable gossip.

    SCORPIO (Oct. 24 - Nov. 22):

    According to the planets your overactive imagination is causing you problems, not least in that you seem to believe you are heading for the poor house. Stop worrying and start looking for ways to boost your income, ways that you are in full control of.

    SAGITTARIUS (Nov. 23 - Dec. 21):

    You may think that you are special but it would appear that someone in a position of power has their doubts, so make it your business today to prove that you are up to the tasks they have set you. You were born to be N0.1.


    CAPRICORN (Dec. 22 - Jan. 20):

    There is nothing you need to be afraid of, so why are you always looking over your shoulder? Whatever the reason you need to get over it because there are some fantastic opportunities coming your way – opportunities that will approach from the front, not the rear.

    AQUARIUS (Jan. 21 - Feb. 19):

    Don’t just accept what the so-called experts tell you. The planets warn they are every bit as confused by events as you are, so reject their advice if it doesn’t sound right and act on what your instincts tell you. Deep down you already know what the truth is.

    PISCES (Feb. 20 - Mar. 20):

    Don’t sit back and wait for the world to beat a path to your door over the next 24 hours. Take your show on the road and let everyone know what you are capable of – which is much more than most people have given you credit for.

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