🚀 go-pugleaf

In article <bn207-2008960932100001@macpcoghlan.ca.newbridge.com>, 
bn207@FreeNet.Carleton.CA says...

[snip]

>
>It's a tax grab because: a) I can't opt out of the "insurance" plan, b) I
>have to pay
>all my premiums in 6 or 7 months versus 12 and c) the cap was just raised 
from
>$34K to $39K (or something like that).
>

Wrong!

In 1995, the Unemployment Insurance rate was 3% of Insurable Earnings up to 
$42,380 -- for a maximum of $1,271

In 1996, the Unemployment Insurance rate is 2.95% of Insurable Earnings up 
to $39,000 -- for a maximum of $1,151

Therefore the rate actually was reduced!

It was the CPP Pensionable Earnings that went up from $34,900 to $35,400 
with the corresponding rate increase from 2.7% to 2.8% (double for 
self-employed persons) with corresponding maximums of $851 in 1995 to $893 
in 1996.

I hope this clears up any confusion between UI/EI and CPP rates and limits.

Barry Doerbecker		doerbecker@bateman-mackay.com
Staff Accountant
________________________________________________
Bateman MacKay Chartered Accountants
Burlington, Ontario, Canada
Focused on Research & Development Tax Credits
http://www.bateman-mackay.com 
Disclaimer: The views expressed here are those of the author and may not 
reflect those of Firm.