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Why isn’t my CPP overpayment on line 448?

If you have both employment income and either:

  • self-employment income, and/or
  • you are electing to pay CPP premiums on a CPT20 form,

the amount on line 8 of page 2 of your Schedule 8 is not your CPP overpayment. Instead, your CPP calculation continues in Part 5 on page 3 of the Schedule 8.

If you should still be entitled to a CPP refund after completing Part 5, this will not be included in your refund. Instead we are subject to rule from the last row of the Schedule 8: “If the result on line 23 [would be] negative, you may have an overpayment. If so, [the CRA] will calculate it for you.

The CRA will calculate and include your overpayment when your return is assessed.