Financial Planning for Canadians - 2022 key numbers

Financial planning for Canadians starts every year with reviewing the CRA annual updates. Indeed, keep up-to-date on the key metrics like maximum pensionable earnings, basic exemptions and other important stuff.

I’ll breakdown the important numbers bullet style:

maximum pensionable earnings under the Canada Pension Plan for 2022 will be $64,900, up from $61,600 in 2021.
The basic exemption amount for 2022 remains at $3,500.
The RRSP dollar limit will be $30,780 for 2023 and $29,210 for 2022.
Annual TFSA limit has yet to be announced, currently $6,000.
Total 2021 TFSA contribution room is $75,500. (no update yet)
Employee and employer CPP contribution rates for 2022 will be 5.70%.
Self-employed CCP contribution rates for 2022 will be 11.4%.
Maximum employer and employee contribution to the CPP for 2022 will be $3,499.80 each.
Maximum self-employed CCP contribution will be $6,999.60.

To be sure, these key numbers are an integral part of any successful financial plan. Remember, to stick to the plan when times get tough.

Are you looking for actionable market information, if so, checkout my latest ULTIMATE INVESTOR UPDATE.

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