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CRA Sets 2020 CPP Maximum Pensionable Earnings
The maximum CPP pensionable earnings will increase from $57,400 in 2019 to $58,700 in 2020.
This increase is in accordance with the legislated CPP formula, which accounts for the average growth in weekly & annual wage in Canada.
The basic exemption (the amount of earnings before CPP premiums begin) remains at $3,500.
Per the CPP enhancement program that was introduced on January 1, 2019, the employer & employee contribution rates will increase from 5.10% in 2019 to 5.25% in 2020. This means a self-employed rate is 10.50%. In dollar terms, the 2020 CPP maximum contribution will be $2,898.
Wealthview Maintenance – Service Disruption This Weekend
Please be aware that a scheduled Wealthview maintenance will take place this weekend. As a result, the Wealthview Client Portal will be unavailable from Friday November 8th (today) from 5pm PST until Sunday November 10th at 4pm PST.
We apologize for this inconvenience.
Weekly Update – By The Numbers
|North America||Friday Close||Weekly Change||Weekly % Change||YTD % Change|
|Canada – S&P TSX Composite||16,877||283||1.71%||17.83%|
|USA – Dow Jones Industrial Average||27,681||334||1.22%||18.67%|
|USA – S&P 500||3,093||26||0.85%||23.37%|
|USA – NASDAQ||8,475||89||1.06%||27.73%|
|Gold Futures (USD)||$1,459.00||-$57.70||-3.80%||13.54%|
|Crude Oil Futures (USD)||$57.38||$1.15||2.05%||25.20%|
|CAD/USD Exchange Rate||$0.76||-$0.01||-0.70%||3.18%|
|Europe / Asia||Friday Close||Weekly Change||Weekly % Change||YTD % Change|
|MSCI World Index||2,269||17||0.75%||20.37%|
|Switzerland – Euro Stoxx 50||3,700||76||2.10%||23.29%|
|England – FTSE 100||7,359||57||0.78%||9.38%|
|France – CAC 40||5,890||128||2.22%||24.50%|
|Germany – DAX Performance Index||13,229||268||2.07%||25.29%|
|Japan – Nikkei 225||23,392||541||2.37%||16.87%|
|China – Shanghai Composite Index||2694||-264||-8.92%||8.02%|
|CAD/EURO Exchange Rate||€ 0.69||€ 0.00||0.65%||6.91%|
|Fixed Income||Friday Close||Weekly Change||Weekly % Change||YTD % Change|
|10-Year Bond Yield (in %)||1.933||0.205||11.86%||-28.14%|
Sources: Yahoo Finance, Advisor.ca
This information is provided for general information purposes only. It does not constitute professional advice. Please contact a professional about your specific needs before taking any action.