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Changes to your pay effective January 2016

As the New Year begins, the Payroll Department would like to remind you of some changes effective your first pay of 2016.

Canada pension plan

If you reached the maximum contributions in 2015 of $2,479.95 you did not have this deduction on the final pays of the year.  Please remember that effective the first pay in 2016, this deduction will start again.  The maximum contribution for 2016 has increased to $2,544.30.

Employment insurance

If you reached the maximum contributions in 2015 of $930.60 you did not have this deduction on the final pays of the year.  Please remember that effective the first pay in 2016, this deduction will start again.  The maximum contribution for 2016 has increased to $955.04.

Federal and provincial personal tax credits

Effective the first pay of 2016, all employees will have their payroll tax records reset to the new 2016 basic tax exemption rates. The 2016 basic personal amounts are:

  • Federal - $11,474
  • Ontario - $ 10,011

If you are entitled to further tax exemptions, please complete the 2016 TD1 and TD1-ON and email them to the Payroll Department, Markham Campus or send them interoffice mail as soon as possbile.

Caat pension contributions

If you are a member of the CAAT Pension Plan, the contribution rate for earnings below $54,900 is 11.2%, and the rate for earnings above the $54,900 is 14.8%.

2015 T4/ T4A

T4 and T4A will be available at the end of February 2016.

If you have any further questions regarding your payroll deductions, please contact the Payroll Department at ext.77130