News
Hiring Credit for Small Business (HCSB) **NEW**
A one-time hiring credit for small business was created in the 2011 federal budget to help stimulate new employment and support small businesses. Intended to provide relief to small businesses from the employer’s share of employment insurance (EI) premiums paid in 2011, this credit will pay up to a maximum of $1,000.00. This credit is based on the increase in an employer’s EI premiums paid in 2011 over those paid in 2010. In order to be eligible for this credit, the employer’s share of EI must have been paid to a payroll account. Individuals who have chosen to pay EI premiums on their self-employed earnings are not eligible for the HCSB.
For more information on this one-time credit, you can access the website through the following link:
http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/hwpyrllwrks/stps/hrng/hcsb-eng.html