Employed and self-employed - Stop paying CPP contributionsAs a CPP working beneficiary, you must pay CPP contributions.
If you are at least 65 years of age, but under 70, you can elect to stop contributing to the CPP.
If you have both employment and self-employment income, you can elect to stop contributing to the CPP on any employment income earned outside Quebec by completing Form CPT30. Provide a copy of Form CPT30 to all your employers and send the original to the Canada Revenue Agency.
The election takes effect on the first day of the month following the date you provide a copy of the completed form CPT30 to your employer. This date applies to both your employment and self-employment income earned outside Quebec.
For more information on the changes to CPP rules, please visit the following links:
You must indicate this choice. To do so, please follow these steps:
1 - On the "Left side menu on the Interview tab", select the "Controls".
2 - On the page that appears, go to the section "If you had employment earning''. For the line 'Did you make a CPT30 election for the current taxation year?'', select "Yes" option in the drop-down menu.
3 - For the line "If you answered Yes to the question above, enter the effective election date (01-mm- 2019) to stop contributing to the CPP or to revoke an election made in a prior year to stop contributing to the CPP (from the CPT30 Part C)", select "Elect to stop contributing to the CPP" in the dropdown menu and in the field on the right, enter the date of your choice.
4 - Also, as a self-employed individual, you must answer the question "Do you want to stop contributing to the CPP on the self-employment income, or to revoke an election made in a prior year?" In your case, you must answer "Yes".
5 - For the line "If you answered Yes to the question above, enter the effective election date (01-mm- 2019 to stop contributing to the CPP (Schedule 8 L.372) or to revoke an election made in a prior year to stop contributing to the CPP (Schedule 8 L.374)",
select "Elect to stop contributing to the CPP" in the dropdown menu and in the field on the right, enter the date of your choice.
Schedule 8 will be generated by the program, on Part 2 the calculation of your contributions to the employment income will be made and the amount subject to the assessment will be entered on line 3, whereas in Part 3, the amount of your self-employment income will be entered on line 3 of Schedule 8.These amounts will be subject to the CPP.
ID: 20200831094148NA.xml
Webpage: KPA320-20200831094148NA.htm