Businesses – Tax information newsletter, Edition 2022-02

December 19, 2022

The CRA wishes businesses a happy and successful holiday season!

This holiday season, the Canada Revenue Agency (CRA) is recognizing the importance of small business to our economy. We know how hard you've been working to rebuild and grow, and want to remind you that we are here to help—now and throughout the year!

The CRA is always working hard to serve businesses – we are listening, learning, and challenging ourselves to do better. We are committed to providing businesses with information that is meaningful and easy to understand. Check out the answers to five of the top business tax information questions as you move through the holidays.

Looking for direct access to tax-related services and information for businesses?

Visit the CRA resources for small and medium business page for links to all of your tax-related business information. On this page you will find information about business number registration, income tax, payroll, GST/HST, Excise taxes, duties and levies – and more!

What is the maximum pensionable earnings for 2023?

The maximum pensionable earnings under the Canada Pension Plan (CPP) for 2023 will be $66,600—up from $64,900 in 2022. The new ceiling was calculated according to a CPP legislated formula that takes into account the growth in average weekly wages and salaries in Canada.

For more information check out CPP contribution rates, maximums and exemptions.

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Are you a business owner? Subscribe to GC Business Insights for information on Government of Canada resources, programs and funding opportunities. Every month, you'll also get access to tips, market studies and tools like webinars and guides—all addressing the needs of Canadian businesses.

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