Payroll Tax Calculator Ontario 2014

Calculate Ontario payroll taxes for 2014 including Employment Insurance (EI), Canada Pension Plan (CPP), and federal payroll deductions. This calculator provides a clear breakdown of payroll taxes for employers in Ontario during 2014.

How to Use This Calculator

To calculate Ontario payroll taxes for 2014:

Enter the employee's annual salary in the "Annual Salary" field
Select the appropriate pay frequency from the dropdown
Click "Calculate" to see the results

The calculator will display:

Total payroll taxes
Breakdown of EI, CPP, and federal payroll deductions
Net pay after deductions

Formula Used

The payroll tax calculation for 2014 includes:

Employment Insurance (EI)

EI premiums are calculated at 1.63% of the employee's insurable earnings (up to $53,900 in 2014).

Formula: EI = Annual Salary × 1.63% (capped at $53,900)

Canada Pension Plan (CPP)

CPP contributions are calculated at 4.95% of the employee's earnings (up to $55,900 in 2014).

Formula: CPP = Annual Salary × 4.95% (capped at $55,900)

Federal Payroll Deductions

Federal payroll deductions include income tax, CPP, and EI.

Formula: Federal Deductions = Income Tax + CPP + EI

Total Payroll Taxes

Total payroll taxes include all federal and provincial deductions.

Formula: Total Payroll Taxes = Federal Deductions + Provincial Deductions

Worked Example

For an employee with an annual salary of $50,000 paid weekly:

EI: $50,000 × 1.63% = $815
CPP: $50,000 × 4.95% = $2,475
Federal Deductions: $815 + $2,475 = $3,290
Provincial Deductions: $50,000 × 5.14% = $2,570
Total Payroll Taxes: $3,290 + $2,570 = $5,860
Net Pay: $50,000 - $5,860 = $44,140

Note: Actual income tax amounts may vary based on tax brackets and deductions.

Frequently Asked Questions

What payroll taxes apply in Ontario for 2014?: In 2014, Ontario employers were required to deduct EI, CPP, and federal payroll taxes from employee wages.
How is the EI premium calculated?: The EI premium is 1.63% of the employee's insurable earnings, capped at $53,900 annually.
What is the CPP contribution rate?: The CPP contribution rate was 4.95% of the employee's earnings, capped at $55,900 annually.
Are there any provincial payroll taxes?: Yes, Ontario employers must deduct 5.14% of the employee's earnings for provincial payroll taxes.
How often should payroll taxes be calculated?: Payroll taxes should be calculated for each pay period based on the employee's earnings for that period.