You must subtract from an employee's gross remuneration for a pay period the amount withheld from their remuneration for the purchase of qualifying securities under the Cooperative Investment Plan (CIP). The maximum amount that can be subtracted cannot be more than 30% of the result of the following calculation:

• the employee's gross salary or wages for the pay period

minus

• the amount that the employee paid to a registered pension plan (RPP) for the pay period
• the value of the qualifying securities that you transferred for the pay period, at the employee's request, to the employee's or the employee's spouse's registered retirement savings plan (RRSP)

If the amount you have to subtract exceeds 30%, contact us to find out if you can subtract the entire amount.