Payroll updates for 2018

The 2018 pay schedule is available on the People Services website and please also note the following federal and provincial changes for this year.

1. Canada Pension Plan and Employment Insurance

Canada Pension Plan (CPP) and Employment Insurance (EI) deductions will recommence for those employees who  reached the maximums in 2017.

For 2018, CPP rates have remained the same at 4.95%; however the maximum annual deduction has increased to $2,593.80 (2017 max: $2,564.10). EI rates have increased to 1.66% (2017 rate: 1.63%) and the maximum annual employee deduction has increased to $858.22 (2017 max: $836.19).

2. TD1 & TD1 BC forms for 2018 – Personal Tax Credits Return

Basic personal amounts will be changed to the new 2018 rate. If you would like to claim more than the basic personal amounts (e.g. your circumstances have changed, spouse is not working or you have tuition to claim, etc.) please fill out new forms by Monday, January 22. Please access the forms under “payroll forms’ on the People Services website and return completed TD1 and TD1BC forms to the People Services Department. If we do not hear from you by Monday, January 22, your rate will be set up at the 2018 basic personal amount.

3. Medical Services Plan

Effective Monday, January 1, monthly premium rates for 2018 have reduced by 50% and are as follows:

–Single – $37.50

–Couple – $75.00

–Family – $75.00