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There are a number of changes that have taken place when we rang in the new year a few days ago in terms of taxes, laws and wages. Here are some of the most significant changes:- Starting 2018, the small business tax rate dropped from 10.5% to 10%.- EI premiums have slightly increased by about $6 in new costs for the average worker and $13 per employee for the average employer.- 2018 marks the return of the sponsorship program after closing down due to backlogs.- Ontario's minimum hourly wage increase took effect last January 1, 2018 from $11.60 to $14.- Alberta's...
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With the recent announcement that the Extended Parental Benefit will be starting on December 3rd, parents now have 2 options when choosing how they want their parental benefits applied. Before going into the options, we want to review the conditions for you to be able to claim the EI parental benefits. To be eligible for EI special benefits such as maternity, parental and caregiving benefits, individuals must have 600 insurable hours of work in the 52 weeks preceding their claim. Self employed workers can opt into the EI program and become eligible as well by opting in for at least one...
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Last November 9th, the Federal Government announced that the changes to the Employment Insurance (EI) program included in Budget 2017 will come into effect starting December 3, 2017. Through a statement by the Minister of Families, Children and Social Development, the following changes to the EI program will be made beginning December 3rd: 1.    Eligible pregnant workers will be able to receive EI maternity benefits up to 12 weeks before their due date. 2.    Parents can choose to receive parental benefits over a period of 12 months at the current rate or up to 18 months at a lower benefit rate....
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As an addendum to my last blog on EI benefits I realized that I had better explain the EI benefits available to the self-employed.  The truth is the benefits are extremely limited and are not the same as you get when you are an employee and lose your job.  In fact, in my opinion the “benefits” are kind of a joke.  You have to jump through a lot of hoops, and I suspect actually trying to claim them would be similar to making a WCB claim for being hurt (that is to say extremely frustrating).  All you have to do is...
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