The following is a summary of some common financial planning-related information. Any values noted below are for 2018 unless stated otherwise.

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Retirement

Maximum CPP/QPP benefit at age 65 $1,134.17 per month
Early CPP/QPP maximum benefit at age 60 $725.87 per month
(36% max reduction or 0.6% per month)
Deferred CPP/QPP maximum benefit at age
70
$1,610.52 per month
(42% max increase or 0.7% per month)
Maximum CPP/QPP contributions
employer and employee
CPP $2,593.80 each annually
QPP $2,829.60 each annually
Maximum CPP/QPP contributions
self-employed
CPP $5,187.60 annually
QPP $5,659.20 annually
YMPE – Yearly Maximum Pensionable
Earnings
$55,900
Maximum OAS benefit for Q1 at age 65 $586.66 per month
Deferred OAS maximum benefit for Q1
at age 70
$797.86 per month
(36% max increase or 0.6% per month)
OAS clawback rate $0.15 for every $1 of net income above
$75,910; the full OAS is eliminated at a net
income of $122,843
CANSIM rate 2.16%
RRSP – maximum annual deduction limit $26,010 for 2017
$26,230 for 2018
RRSP – withholding tax on withdrawals 10% (20% in Quebec) for amounts
up to $5,000
20% (25% in Quebec) for amounts
over $5,000 up to and including $15,000
30% (30% in Quebec) for amounts
over $15,000
Annual TFSA contribution limits $5,000 each year 2009 - 2012
$5,500 each year 2013 - 2014
$10,000 for 2015
$5,500 for 2016 - 2018
Maximum TFSA contribution limit since
inception
$57,500 from 2009 – 2018                                   

IPP

T4 earnings required to contribute the maximum to an IPP for        
the year 
$145,722 for 2017
$147,222 for 2018                                                                                      

Tax

EI – maximum annual premium $858.22
($672.10 in Quebec due to separate maternity and parental benefits)
EI – maximum annual insurable earnings $51,700
Federal basic personal amount $11,809 (base) $1,771 (credit)
Federal age amount $7,333 (base) $1,100 (credit)
Net income threshold for age amount $0.15 for every $1 of net income above $36,976;
the full age amount is eliminated at a net income of $85,863
Federal tax brackets and rates based on taxable income   Taxable income                        Federal rate
Up to $46,605                                  15%
Over $46,605 up to $93,208          20.5%
Over $93,208 up to $144,489         26%
Over $144,489 up to $205,842       29%
Over $205,842                                33%
Eligible dividends (most public companies) Gross up is 38%; taxable amount is 138%;
Federal tax credit is 15.0198% of taxable dividend
Non-eligible dividends Gross up is 16%; taxable amount is 116%;
Federal tax credit is 10.0313% of taxable dividend
Lifetime Capital Gains Exemption (LCGE)
for qualified small business corporation shares
$835,716 for 2017
$848,252 for 2018
LCGE for qualified farm or fishing property                                  $1,000,000 for 2017 and 2018

Education - RESP

Maximum annual RESP contribution Unlimited annual contribution up to lifetime maximum of $50,000 per
beneficiary
Maximum annual RESP contribution for maximum CESG CESG of 20% on first $2,500 of contributions per beneficiary up to a
maximum of $500
Maximum annual CESG of $1,000 if there is unused grant room from a
previous year
Lifetime CESG limit of $7,200 per beneficiary
Additional CESG on the first $500 contributed to an RESP            CESG of 20% if net income is under $46,605
CESG of 10% if net income is between $46,605 and $93,208

Disability - RDSP

Annual CDSG (grant) limit $1,000 grant for $1,000 contribution if 2016 net income above $93,208
$3,500 grant per $1,500 contribution if 2016 net income less than $93,208
Annual CDSB (bond) limit $1,000 if 2016 net income is $30,000 or less;
Part of the $1,000 if 2016 net income is between $30,000 and $46,605;
No bond if 2016 net income is over $46,605
Maximum lifetime CDSG and CDSB limit $70,000 for CDSG and $20,000 for CDSB
Annual maximum CDSG and CDSB if there is unused carry              
forward
$10,500 for CDSG and $11,000 for CDSB

U.S. Limits

U.S. estate and gift tax exemption $11,200,000 USD                                                          
U.S. gift tax exemption – non-U.S. married spouse $152,000 USD
U.S. gift tax exemption – children/others $15,000 USD

Government Links

Canada Revenue Agency website http://www.cra-arc.gc.ca/
Canada Revenue Agency General Help Line for Individuals 1-800-959-8281
Phone number and website for CPP and OAS queries 1-800-277-9914
https://www.canada.ca/en/employment-social-development/
corporate/contact/index.html
Phone number and website for QPP queries 1-800-463-5185
http://www.rrq.gouv.qc.ca/en/services/nous_joindre/Pages/nous_
joindre.aspx