The following is a summary of some common financial planning-related information that you can use as a handy reference. Any values noted below are for 2017 unless stated otherwise.

 

Click here for pdf version

Retirement

Maximum CPP benefit at age 65
$1,114.17 per month
Early CPP/ QPP maximum CPP benefit at age 60
$713.07 per month (36% max reduction or 0.60% per month)
Early CPP/ QPP Maximum CPP benefit at age 70
$1,582.12 per month (42% max increase or 0.70%/month)
Maximum CPP / QPP contributions – employer and employee
CPP $2,564.10 each annually
QPP $2,797.20 each annually
Maximum CPP / QPP contributions for self-employed
CPP $5,128.20 annually
QPP $5,594.40 annually
YMPE – Yearly Maximum Pensionable Earnings
$55,300
Maximum OAS benefit for Q1
$578.53 per month
Deferred OAS maximum benefit for Q1 at age 70
$786.80 per month (36% max increase or 0.6% per month)
OAS clawback rate
$0.15 for every $1 of net income above $74,788; the full OAS is eliminated at a net income of $121,071 or higher
CANSIM rate
2.06%
RRSP – maximum annual deduction limit
$25,370 for 2016
$26,010 for 2017
RRSP – withholding tax on withdrawals
10% (21% in Quebec) for amounts up to $5,000
20% (26% in Quebec) for amounts over $5,000 up to and including $15,000
30% (31% 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 - 2017
Maximum TFSA contribution limit since inception
$52,000 from 2009 - 2017
IPP
T4 earnings required to contribute the maximum to an IPP for the year    
$144,500 for 2016
$145,722 for 2017
Education

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 $45,916

CESG of 10% if net income is between $45,916 and $91,831

Tax
EI – maximum annual premium
$836.19 ($651.51 in Quebec due to separate maternity and parental benefits)
EI – maximum annual insurable earnings
$51,300
Federal basic personal tax exemption
$11,635 (base) $1,745 (credit)
Federal age amount
$7,225 (base) $1,084 (credit)
Net income threshold for age amount
$0.15 for every $1 of net income above $36,430; the full age amount is eliminated at a net income of $84,597
Federal tax brackets and rates based on taxable income
Taxable income
Up to $45,916
Over $45,916 up to  $91,831
Over $91,831 up to  $142,353
Over $142,353 up to  $202,800
Over $202,800
Federal rate
15%
20.5%
26%
29%
33%
Eligible dividends (most public companies)
Gross up is 38%; taxable amount is 138%
Federal tax credit is 15.0198% of taxable amount
Non- eligible dividends
Gross up is 17%; taxable amount is 117%
Federal tax credit is 10.52% of taxable amount
Lifetime Capital Gains Exemption (LCGE)
for qualified small business corporation shares
$824,176 for 2016
$835,716 for 2017
LCGE for qualified farm or fishing property
$1,000,000 for 2016 and 2017
Personal tax calculator website
Disability
Annual CDSG (grant) limit
$1,000 grant for $1,000 contribution if 2015 net income above $91,831
$3,500 grant per $1,500 contribution if 2015 net income less than $91,831
Annual CDSB (bond) limit
$1,000 if 2015 net income is $30,000 or less;
Part of the $1,000 if 2015 net income is between $30,000 and $45,916;
No bond if 2015 net income is over $45,916
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                                
$5,490,000 USD
U.S. gift tax exemption – non-U.S. spouse
$149,000 USD
U.S. gift tax exemption – children/others
$14,000 USD
Government links
Canada Revenue Agency website
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