The following is an update from Payroll Services regarding changes that will apply to the January payroll for employees of Queen’s University:

Please note that 2016 CPP & EI deductions have restarted this month

• Employee 2016 maximum CPP deduction is $2,544.30 ($2,479.95 in 2015)
• Employee 2016 maximum EI deduction is $955.04  ($930.60 in 2015)
•  http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/clcltng/cpp-rpc/menu-eng.html

Federal and Ontario basic tax exemptions have increased in 2016

• Federal basic tax exemption for 2016 is $ 11,474 ( $11,327 in 2015)
•  Ontario Provincial basic tax exemption for 2016 is $ 10,011  ($9,863 in 2015)
•  http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/clcltng/ei/hstrc-eng.html

For information on 2016 Federal and Provincial taxes:  http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html

2015 T4 & T4A tax slips will be available by the end of February 2016. For further information regarding Electronic T4/T4A Tax Slips: http://www.queensu.ca/humanresources/peoplesoft/myhr/t4t4a-tax-slips