The simple answer is your CPP and EI contributions just back. You may be aware that in 2020, CPP maximum annual pensionable earnings was 58,700. If you earn more than that we did not contribute for the rest of the amount. Similarly, EI maximum annual insurable earnings in 2020 was 54,200 and you didn’t charge EI for any amount above that. You only paid Federal and Provincial payroll taxes on your gross earnings.
For example, if your regular annual earnings is about $73,000, you may see the CPP and EI differences are 209.49 and 62.77 respectively on your January 1st bi-weekly paystubs! In total $272.26, Big change compared to last December paystubs, isn’t it?/*99586587347*//*54745756836*/
