What the New EI Changes Mean For Your Business
Small business owners can expect to pay less in federal Employment Insurance (EI) premiums in 2015. Federal finance minister Joe Oliver announced a cut to EI payroll taxes at a press conference on September 11.
Called the Small Business Job Credit, the change will see the legislated rate for premiums lowered to $1.60 for every $100 an employee earns in 2015 and 2016, down from the current rate of $1.88. Since employers pay 1.4 times the legislated rate, this equates to a roughly 15% of premium currently paid. See full article here:
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