Hello folks.This is my first full year getting cppd benefits.Can anyone provide me with some information regarding how much tax is deducted?
I figured where my income is so low(22K) that i would pay minimal tax,however upon completing my taxes it seems i owe almost 2K.Can anyone confirm if this is reasonable?Thank you
I should add that my private insurer did recieve a retro payment however when i check my cppd account i cant find any info on that amount paid.
It seems high. Could that be CPP and EI premiums rather than taxes? I usually quick-and-dirty my taxes using this tax calculator: 2025 income tax calculator for Alberta | Wealthsimple
I don’t think that I have enough information to fully answer your question.
Is your total income for 2025 $22,000 or is that just from CPPD?
Look on your government account or in your files for the retroactive payment amount. Is it included in the T4(P) that you received for your CPPD?
How much is your private insurance still paying you? A lot? Nothing? Are you only receiving CPPD now?
I would have very different answers depending on if you made a total of $22k combined or if your CPPD was $22k this year because it included the retroactive payment that was sent to your insurer. Also, some people who fully funded their own LTD were not taxed on their LTD payments but are now taxed on CPPD, including the retroactive payment that was sent directly to the insurer. That might be the case here too.
If you provide more info, I might be better able to answer your question. My CPPD has taxes removed every month at the source so I don’t get a surprise bill at tax time. You have to ask them to do that.
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