CPP - Retire who returned to work - CPT30
Federal
You are aged between 65 and 70 years and have returned to work.
According to the new rules introduced by the CPP in 2012, you
must contribute again.
However, you have the option of stopping payments
of CPP contributions.
If you want to stop contributing to the CPP, you must complete
"Form CPT30", give a copy to your employer(s) and mail the
original to the Canada Revenue Agency.
This choice will be effective on the first day of the month
following the date you gave a copy of Form CPT30 to your
employer.
You must indicate the choice you made. To do so, please follow
these steps:
1 - On the "Left side menu of the Interview tab", select
the "Controls".
2 - On the page that appears, go to the section "If you had
employment earnings" and for the line "Did you make a CPT30
election for the current taxation year?", select "Yes" or
"No" in the drop-down menu.
If you did not make a choice, select "No" and
click "Next" at the bottom of the page. However, if you want
to stop contributing to the CPP and have completed the
"Form CPT30", you must answer "Yes" for the second
entry and in the drop-down menu, you must choose "Elect to stop
contributing to the CPP" and enter the date of termination.
If you over-contributed to CPP, the Form T2204
''Employee Overpayment of 2013 Canada Pension Plan
Contributions'' will be generated by the program
and will transfer the overpayment to line
44800 of the federal return, if applicable.
For more information on CPP changes, please visit the following
links:
https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/payroll-deductions-contributions/canada-pension-plan-cpp/changes-rules-deducting-canada-pension-plan-cpp-contributions.html
https://www.canada.ca/en/news/archive/2013/12/workers-aged-60-make-sure-you-are-clear-cpp-contribution-rules.html
ID: 20211020101500DE.xml
Webpage: KPA310-20211020101500DE.htm
