Part 3 - Calculating your CPP contributions and overpayment on employment income Details Comments Ref Amounts. No. Enter your yearly maximum CPP pensionable earnings (see the monthly proration table below to find the amount that corresponds to the number of months entered in box A of Part 2). (maximum $53,600) 1 Total CPP pensionable earnings. Enter the total of box 26 of all your T4 slips (maximum $53,600 per slip). If box 26 is blank, use box 14. 5549 2 Enter the amount from line 1 or the amount from line 2, whichever is less. (maximum $53,600) 3 Enter your maximum basic CPP exemption (see the monthly proration table below to find the amount that corresponds to the number of months entered in box A of Part 2). (maximum $3,500)* - 4 Earnings subject to CPP contributions: Line 3 minus line 4 (if negative, enter "0") (maximum $50,100) = 5 Actual CPP contributions: Enter the total CPP contributions deducted from box 16 of all your T4 slips. 5034 o6 Required contributions on CPP pensionable earnings: Multiply the amount from line 5 by 4.95%. (maximum $2,479.95) - 7 Line 6 minus line 7 (if negative, enter "0") CPP overpayment = 8 If you are self-employed and/or you are electing to pay additional CPP contributions on other earnings, enter the amount from line 6 on line 308 of your Schedule 1 and, if applicable, on line 5824 of Form 428. Then continue with Part 5. Otherwise, enter the amount from line 6 or line 7, whichever is less, on line 308 of your Schedule 1 and, if applicable, on line 5824 of Form 428. If the amount from line 8 is positive, enter it on line 448 of your return. If the amount from line 8 is negative, you may be able to make additional CPP contributions; see "Making additional CPP contributions" on page 46 of the General Income Tax and Benefit Guide. * If you started receiving CPP retirement benefits in 2024, your basic exemption may be prorated by the CRA.
Part 5 - CPP contributions on self-employment and other earnings when you have employment income Pensionable net self-employment earnings* (amounts from line 122 and lines 135 to 143 of your return) 1 Employment earnings not shown on a T4 slip on which you elect to pay additional CPP contributions (attach Form CPT20) 373 + 2 Employment earnings shown on a T4 slip on which you elect to pay additional CPP contributions, line 12 of Form CPT20 (attach Form CPT20) 399 + 3 Add lines 1, 2, and 3. = 4 Enter the amount from line 6 of Part 3. Actual CPP contributions 5 If the amount on line 8 of Part 3 is positive, complete lines 6 to 8. Otherwise, enter "0" on line 8 and continue on line 9. Enter the amount from line 5 above. 6 Enter the amount from line 7 of Part 3. - 7 Line 6 minus line 7 (if negative, enter "0") = ► - 8 Line 5 minus line 8 (if negative, enter "0") = 9 Multiply the amount from line 9 by 20.202. 10 Enter the amount from line 1 of Part 3. CPP pensionable earnings (maximum $53,600) 11 Enter the amount from line 4 of Part 3. Basic exemption (maximum $3,500) - 12 Line 11 minus line 12 (if negative, enter "0") (maximum $50,100) = 13 Enter the amount from line 10. - 14 Line 13 minus line 14 (if negative, enter "0") = 15 Enter the amount from line 4 or line 15, whichever is less. 16 If the amount on line 2 of Part 3 is less than the amount on line 4 of Part 3, complete lines 17 to 19. Otherwise, enter "0" on line 19 and continue on line 20. Line 4 of Part 3 minus line 2 of Part 3 17 Line 4 minus line 13 (if negative, enter "0") - 18 Line 17 minus line 18 (if negative, enter "0") = ► - 19 Earnings subject to contributions: line 16 minus line 19 (if negative, enter "0") = 20 Multiply the amount from line 20 by 9.9%. 21 Multiply the amount from line 8 of Part 3 (if positive only) by 2. - 22 CPP contributions payable on self-employment and other earnings: Line 21 minus line 22 (if negative, enter "0"). Enter this amount on line 421 of your return. ** 23 Deduction and tax credit for CPP contributions on self-employment and other earnings: Multiply the amount from line 23 by 50%. 24 Enter the amount from line 24 on line 222 of your return and on line 310 of Schedule 1. * Self-employment earnings should be prorated according to the number of months entered in box A of Part 2 (do not prorate the self-employment earnings if the individual died in 2024). ** If the result on line 23 is negative, you may have an overpayment. If so, we will calculate it for you