Quebec announces 2007 rates

Parental insurance plan premiums for employees and employers remain the same

Quebec Pension Plan (QPP) rate

Revenu Québec has released the QPP rates and maximums for 2007. They are:

Maximum pensionable earnings:$43,700
Basic exemption:$ 3,500
Maximum contributory earnings:$40,200
Contribution rate (employee and employer):4.95%
Maximum employee contribution:$ 1,989.90
Maximum employer contribution:$ 1,989.90


Quebec Parental Insurance Plan (QPIP) rates

The Quebec Parental Insurance Plan (QPIP) premium rate for employees remains at 0.416% for 2007. The employer rate remains at 0.583% for 2007. The maximum insurable earnings will increase from $57,000 to $59,000 for 2007. As a result, the maximum employee contribution for next year will be $245.44, while the maximum employer contribution will be $343.97.

CNT levy maximum to rise

Effective January 1, 2007, the maximum amount subject to the levy for financing the Commission des normes du travail will increase from $57,000 to $59,000.

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