Is there a valid election to stop contributing to the CPP or a valid revocation of a prior election in effect for 2023?
2023
Starting from January 2012, individuals who are 60 to 70 years of age, receiving a CPP/QPP retirement pension and employed (other than employed in Quebec) and/or self-employed (other than self-employed in Quebec) are required to make contributions to the CPP. However, individuals at least 65 years of age but under 70 can elect to stop contributing to the CPP.
If you
have employment income
earned in a povince or territory
other than
Quebec, you must complete and submit form CPT30,
Election to Stop Contributing to the Canada Pension Plan or Revocation of a Prior Election
, to elect to stop contributing to the CPP or to revoke a prior election. The effective date of the CPT30 election/revocation will be used in the calculation of fields 30800/50310, 22200/31000 and 44800, if applicable.
If you
do not have any employment income
or only has employment income earned in Quebec, you can elect to stop contributing to the CPP or to revoke a prior election on your self-employment earnings on Schedule 8,
CPP Contributions on Self-employment and Other Earnings
.
Is there a valid election or revocation in effect for tax year 2023
?
Yes
No
If
Yes
, please enter information below as per the in-effect form CPT30 and/or Schedule 8/RC381:
Election or revocation?
-- Select --
Elect to stop contributing to the CPP
Revoke a prior election to resume contributing to the CPP
Form(s) used to make the in-effect election or revocation
CPT30
Schedule8/RC381
CPT30 and Schedule8/RC381
Effective date to stop contributing to the CPP or effective date to resume contributing to the CPP
*
1
(You must be at least 65 years of age but under 70 when the election or revocation was made.)
YYYY-MM
*
Note
:
The date entered on this worksheet is the actual/effective starting date (YYYY-MM) to stop contributing to the CPP or to resume contributing to the CPP (e.g., for CPT30, not the date when form CPT30 was signed, but the first day of the month after the date when form CPT30 was signed.).
If the election or revocation in effect was made using CPT30 only, enter the effective date as per the CPT30 in effect.
If the election or revocation in effect was made using Schedule 8 / RC381 only, enter the effective date as per the Schedule 8 / RC381 in effect.
If an election or revocation was made using CPT30 first and later adjusted to an earlier date using Schedule 8 / RC381 in a prior year, please enter the effective date as per the CPT30. (The different effective dates made using CPT30 and Schedule 8 / RC381 make difference to CPP calculation for the specific prior year when election or revocation was made. However, for CPP calculation for the current tax year, it is equivalent to having a CPT30 election or revocation in effect for the whole year.).