Employed and self-employed - Stop paying CPP
contributions
As 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:
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/revenue-agency/services/tax/businesses/topics/payroll/payroll-deductions-contributions/canada-pension-plan-cpp/what-changes-cpp-contribution-rules.html
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
