▸Two-tier progressive tax: You pay both federal and Ontario provincial income tax, each with their own brackets.
▸CPP (Canada Pension Plan): 5.95% on earnings up to $74,600. CPP2 adds 4% on $74,600–$85,000 (second ceiling introduced 2024).
▸EI (Employment Insurance): 1.63% on insurable earnings up to $68,900. Employer pays 1.4× your premium.
▸RRSP deduction: Contributions reduce your taxable income dollar-for-dollar, up to 18% of prior year earned income.