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userjenny2
September 11, 2024
Question

What is second Quebec Pension plan

  • September 11, 2024
  • 1 reply
  • 0 views
I'm preparing my Payroll for August, there is a "second Quebec Pension' it never been before; what is it and where it come from , and for what?

1 reply

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JamesM4
September 11, 2024

Hello userjenny2,

 

Welcome back to the Community. I'll be happy to share more info about the powerful payroll module offered in QuickBooks Online.

 

The CPP2 is a second Canada Pension contribution that applies to workers who earn higher wages. This contribution was released by the CRA as of January 1 2024.  For more in-depth info, I encourage you to reference the following link that provide more info about: Payroll Deduction formulas. 

 

Let me me know if this info helps. You're welcome to ask other questions in the comments below. I'll be here to help. 

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