In 2023, the CPP tax rate is 5.95% to a maximum deduction of 3754.45

## Step 1: Calculate the maximum pensionable earnings<br /><br />### The maximum CPP contribution is $ \$3754.45$ and the contribution rate is $5.95\%$. We can set up an equation to find the maximum pensionable earnings. Let 'x' be the maximum pensionable earnings. Then $0.0595x = 3754.45$.<br /><br />## Step 2: Solve for x<br /><br />### Divide both sides of the equation by $0.0595$ to isolate 'x'. $x = \frac{3754.45}{0.0595} = 63000$