CPP
Also written as canada pension plan.
Definition
Canada Pension Plan contributions. Deducted from salary and matched by the employer. A corporation owner pays both halves on any salary to themselves.
Long reference
Handbook
CPP Contributions
Citations, procedures, and worked examples for cpp.
Related terms
EI
Employment Insurance premiums. Generally does not apply to a 1-person corporation owner because they control the corporation. Available voluntarily for certain benefits.
T4 slip
The slip issued by an employer showing annual employment income and source deductions for a calendar year. Filed by February 28 of the following year.