2027 at a glance
- CPP gets cheaper per dollar: the employee rate drops from 5.95% to 5.75%. Lower earners pay less; with the higher ceilings, earners near $90,000 or more pay about $29 more in total.
- The CPP and EI ceilings rise, so earnings up to $76,700 (CPP) and $70,800 (EI) count.
- The RRSP limit rises to $35,390, up from $33,810.
- Tax brackets, the basic personal amount and the TFSA limit are announced in late November.
- Budget 2026 proposes a May 15 filing deadline starting with 2027 returns, a refundable caregiver credit and a bigger workers benefit.
Your paycheque: CPP and EI
Confirmed| 2026 | 2027 | |
|---|---|---|
| CPP employee rate | 5.95% | 5.75% |
| CPP earnings ceiling | $74,600 | $76,700 |
| Maximum CPP | $4,230.45 | $4,209.00 |
| CPP2 ceiling | $85,000 | $87,400 |
| Maximum CPP2 | $416.00 | $428.00 |
| EI rate (outside Quebec) | 1.63% | 1.64% |
| EI rate (Quebec) | 1.30% | 1.29% |
| Maximum insurable earnings | $68,900 | $70,800 |
| Maximum EI (outside Quebec) | $1,123.07 | $1,161.12 |
| Salary | CPP, CPP2 and EI in 2026 | In 2027 | Change |
|---|---|---|---|
| $50,000 | $3,581.75 | $3,493.75 | −$88.00 |
| $90,000 | $5,769.52 | $5,798.12 | +$28.60 |
| $150,000 | $5,769.52 | $5,798.12 | +$28.60 |
Saving: RRSP and TFSA
ConfirmedThe 2027 RRSP dollar limit is $35,390, or 18% of your 2026 earned income if that is lower, plus any unused room.
The FHSA stays at $8,000 a year and $40,000 for life.
Tax brackets and your tax-free amount
ExpectedThe federal rates stay the same: 14%, 20.5%, 26%, 29% and 33%. The income thresholds and the basic personal amount rise with inflation each January.
The CRA announces the 2027 adjustment in late November 2026. Forecasts point to roughly 2% to 2.6%, which would lift the tax-free basic personal amount to about $16,800.
Proposed in Budget 2026
Proposed, not law yetThe federal budget tabled on November 5, 2026 proposes these changes. They need legislation and may change before they become law.
- One filing deadline: May 15 for everyone, including the self-employed, starting with 2027 returns (filed in 2028).
- A refundable Canada Caregiver Credit from 2027, worth up to about $1,260 a year, so caregivers with little income also benefit.
- The Build Canada Workers Benefit replaces the Canada Workers Benefit: you would qualify from $500 of earnings (now $3,000), with a higher maximum.
- Advance payments of the workers benefit would be halved from July 2027 and end in 2028.
- A Canada Growth Incentive: up to $15 million of tax-free capital gains on qualifying shares.
- An optional $1,200 flat amount per child for adoption expenses, and an "RRSP for life" that merges the RRSP and RRIF.
Key dates
Confirmed- Late Nov 2026CRA announces 2027 tax brackets, the basic personal amount and the TFSA limit
- Jan 1, 2027New CPP and EI rates and ceilings start on your first paycheque
- Mar 1, 2027Last day for RRSP contributions that count for 2026
- Apr 30, 2027File your 2026 return and pay any balance owing
- Jul 2027New benefit year for the Canada Child Benefit and the Groceries and Essentials Benefit
- Dec 31, 2027Last day for 2027 donations, medical expenses and FHSA contributions
Sources
- CRA, EI premium rates and maximums
- IFEBP, CRA adjusts registered plan limits and CPP ceilings for 2027 (October 2026)
- Department of Finance, Budget 2026: tax measures
- Department of Finance, Budget 2026 key measures
Looking for this year? Read The 2026 Canadian Tax Update.