How can self-employed individuals avail EI Benefits?

If you run your own company or have control over more than 40% of your corporation’s voting shares, the EI program provides you special benefits which can be availed as early as 12 months after registering. According to Canada Revenue Agency, here are the requirements to avail these benefits:

  • You must be a citizen or permanent resident of Canada.
  • You must be registered with the self-employed programming for a minimum time period of 12 months.
  • You must decrease the amount of time you spend on your company by more than 40% for at least 1 week.
  • You must have earned a minimum amount of income (at least $7555 in net earnings) through self-employment in the year prior to applying for the program.

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Pay Less Tax

A great small business tax accountant does more than just measure value, they create it. At CPA4IT our goal is to save you substantially more than it costs you for our services. Over the last 30 years we have developed tax strategies designed to help you keep more of your hard earned money. If you would like to learn how we can help you pay less tax, simply download our FREE Guide to Pay Less Tax.