With the new year comes new limits you need to know while planning your fiscal year.
Federal Tax Brackets
15% up to $45,916
20.5% $45,916 to $91,831
26% $91,831 to $142,353
29% $142,353 to $202,800
33% $202,800+
Basic personal amount: $11,635
Inflation rate used for indexing: 1.4%
CPP: Maximum pensionable earnings (MPE): $55,300
RRSP contribution limit: $26,010 annual maximum
TFSA contribution limit: $5,500 annual maximum
RDSP (Registered Disability Savings Plan): If family income of RDSP beneficiary was less than $91,831 in 2015, the Canada Disability Savings Grant will be 300% on the first $500 and 200% on the next $1,000 of contribution. If income was higher than $91,831, 100% matching CDSG will be paid on the first $1,000 of contributions.
Source: http://www.clifece.ca/
