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taryn83
New Member

Self employeed and need to pay cpp

I am a self employed hair dresser and every year I owe CPP but this year my balance is $0 which I don't think is correct. Does anyone know what I am missing?

1 Best answer

Accepted Solutions
rhino2
New Member

Self employeed and need to pay cpp

If your income from self-employment is under $3500 (and you had no employment income) you will have no CPP contributions to pay on it, as that is the basic exemption.

(When you print or save a pdf copy of your completed return, you will see the calculations on Schedule 8.)

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3 Replies
rhino2
New Member

Self employeed and need to pay cpp

Did you report net self-employment earnings of less than the basic exemption ($3500)? Did you have any employment income on which you paid CPP contributions?
taryn83
New Member

Self employeed and need to pay cpp

My total income is under $3,500 once I enter my expenses, no other employment income that I paid CPP contributions on either
rhino2
New Member

Self employeed and need to pay cpp

If your income from self-employment is under $3500 (and you had no employment income) you will have no CPP contributions to pay on it, as that is the basic exemption.

(When you print or save a pdf copy of your completed return, you will see the calculations on Schedule 8.)