Can I opt out of CPP after the year is already over?

[theemike]

I am 66 years old and while doing my taxes I was asked if I filled out a CPT30 form for the 2016 tax year.  I was working for the whole of the 2016 tax year and I did pay into CPP because I was not aware that I could opt out.  Can I still opt out for the 2016 tax year or is it too late?  

[Delphision · Accepted solution]

The CPT30 has to be filled out, signed and given to your employer.  This determines how they take deductions for the year.  The employer also has to match your contributions for the year.  For this reason CRA won't allow a back-date of a CPT30.  You can send one in at any time now to stop contributions.