The Small Business Job Credit is a two-year measure that will help small businesses by lowering their Employment Insurance (EI) premiums from the legislated rate in 2015 and 2016.
You are eligible for this credit if you meet all of the following conditions in 2015 and/or 2016:
- you deducted EI premiums from the remuneration you paid to your employees, or paid the worker's share of EI premiums for barbers, hairdressers, fishers, or drivers of taxis and other passenger-carrying vehicles, and you remitted these premiums (along with your businesses' share of EI premiums) to your payroll program (RP) account;
- you reported the income and deductions on a T4 slip and filed this information on your RP account for 2015 and/or 2016; and
- the total of employer EI premiums you paid for all of your RP accounts in 2015 and/or 2016 was $15,000 or less