Do you guys pay into CPP

MY husband just called CRA to question whether or not I need to pay into Cpp ( he's doing my taxes) and they told him yes ..... So do you you guys pay into it or is the CRA guy on crack lol

When you do your taxes, it should tell you how much you have to pay as it is based on your income. I usually pay between $800 and $1000 for CPP depending in my income.

Yes I do and you do have to. It gets calculated when you do your taxes. I have an accountant who does mine for me but I do know that we have to pay the employer and the employee contribution for CPP as we are self-employed. I automatically put tax and CPP money into a seperate account every time I'm paid and I calculate 10% for the CPP contribution. So far I have not needed all the money I have saved (due to expenses being deducted) but this works well for me.

You should be getting a statement from CRA each year regarding your pension amount (hello Kraft dinner) and your past CPP contributions. If you do not receive this you can call 1 800 277 9914 and they will send you out your info.

Yes and I have an accountant prepare my taxes

Thanks :) My husband is prep'ing my taxes and I thought he was pulling my leg ... so off I go to apologise lol.

If you look on the tax form it specifically says to either put down what is in a certain box on your t4 which we don't get or to complete the amount owing on self employment earnings. But word of caution here - remember that your earnings is your after deductions for daycare amount - the form tells you what line to take it from. In many cases you will be tax free but still need to pay your cpp.