Election to stop paying CPP

[Jeff56]

Hi, I want to elect to stop paying CPP in 2022. I only have self employed income and am over 65. I went into the control section and clicked Yes I want to stop paying CPP in 2022 and put in the date Jan 1st 2022 and clicked on the dropdown menu and chose the elect to stop option. However when I then continue through the return and look at schedule 8 box 50372 does not have a date in it and box A is automatically filed in with 12 months. Am I missing a step somewhere? I can not edit schedule 8 as it is automatically being populated from my interview section. 

 

[Geo123]

Hello Jeff56

Employed and self-employed - Stop paying CPP contributions
As a CPP working beneficiary, you must pay CPP contributions.

If you are at least 65 years of age, but under 70, you can elect to stop contributing to the CPP.

If you have both employment and self-employment income, you can elect to stop contributing to the CPP on any employment income earned outside Quebec by completing Form CPT30. Provide a copy of Form CPT30 to all your employers and send the original to the Canada Revenue Agency.

The election takes effect on the first day of the month following the date you provide a copy of the completed form CPT30 to your employer. This date applies to both your employment and self-employment income earned outside Quebec.

For more information on the changes to CPP rules, please visit the following links:

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/payroll-deductions-contributions/canada-pension-plan-cpp/changes-rules-deducting-canada-pension-plan-cpp-contributions.html

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/payroll-deductions-contributions/canada-pension-plan-cpp/what-changes-cpp-contribution-rules.html

You must indicate this choice. To do so, please follow these steps:

1 - On the "Left side menu on the Interview tab", select the "Controls".

2 - On the page that appears, go to the section "If you had employment earning''. For the line 'Did you make a CPT30 election for the current taxation year?'', select "Yes" option in the drop-down menu.

3 - For the line "If you answered Yes to the question above, enter the effective election date (01-mm- 2022) to stop contributing to the CPP or to revoke an election made in a prior year to stop contributing to the CPP (from the CPT30 Part C)", select "Elect to stop contributing to the CPP" in the dropdown menu and in the field on the right, enter the date of your choice.

4 - Also, as a self-employed individual, you must answer the question "Do you want to stop contributing to the CPP on the self-employment income, or to revoke an election made in a prior year?" In your case, you must answer "Yes".

5 - For the line "If you answered Yes to the question above, enter the effective election date (01-mm- 2022 to stop contributing to the CPP (Schedule 8 L.372) or to revoke an election made in a prior year to stop contributing to the CPP (Schedule 8 L.374)",

select "Elect to stop contributing to the CPP" in the dropdown menu and in the field on the right, enter the date of your choice.
 

[Jeff56]

Hi many thanks for the response. I am over 65 and under 70 and have decided to opt out of paying CPP. I have already followed the steps above. I only have self employed income, no employed income. I answered Yes to the part list above in step 4, put in the date and selected "Elect to stop contributing" in the dropdown. However when I review my return this information was not pulled through onto Schedule 8 and I have an amount calculated for CPP. I am not sure how to get UFILE to correctly pull the information into Schedule 8. 

[Geo123]

Hello Jeff56,

You are welcome.  Please contact UFile Support so we may review the file confidentially.  Please include your above notes.
Please open a request ticket and submit an anonymous file for review on-line at https://www.ufile.ca/contact/contact-us