The Social Security Rate For Employees in Canada stands at 6.72 percent.

Social Security Rate For Employees in Canada averaged 6.50 percent from 1981 until 2019, reaching an all time high of 7.05 percent in 2003 and a record low of 3.60 percent in 1981. This page provides - Canada Social Security Rate For Employees - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Social Security Rate For Employees - values, historical data and charts - was last updated on October of 2020. source: Canada Revenue Agency

Social Security Rate For Employees in Canada is expected to reach 6.72 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Social Security Rate For Employees is projected to trend around 6.72 percent in 2021, according to our econometric models.

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Canada Social Security Rate For Employees

Actual Previous Highest Lowest Dates Unit Frequency
6.72 6.61 7.05 3.60 1981 - 2019 percent Yearly

Canada Taxes Last Previous Highest Lowest Unit
Corporate Tax Rate 26.50 26.50 50.90 26.10 percent [+]
Personal Income Tax Rate 33.00 33.00 33.00 29.00 percent [+]
Sales Tax Rate 5.00 5.00 7.00 5.00 percent [+]
Social Security Rate 14.09 13.81 14.95 7.90 percent [+]
Social Security Rate For Companies 7.37 7.27 7.90 4.30 percent [+]
Social Security Rate For Employees 6.72 6.61 7.05 3.60 percent [+]


Canada Social Security Rate For Employees
In Canada, the Social Security Rate is a tax related with labor income charged to both companies and employees. Revenues from the Social Security Rate For Employees are an important source of income for the government of Canada because they help to pay for many social programs including welfare, health care and many other benefits.