Small businesses relief from the employer's share of Employment Insurance (EI) premiums paid in a year is provided through HCSB. The credit of up to $1,000 will be credited to the employers payroll account automatically. The amount credited (up to $1,000) is the difference in EI premiums paid by a business in 2012 over those paid for during 2011.
Who are eligible?
Businesses and employers who:
have paid EI premium of $10,000 or less in 2011.
have started a new business in 2012.
How will you get this credit?
When a business files a 2012 T4 information return; HCSB is automatically credited in the payroll account, provided the return is filled before January 1, 2016. A cheque can be requested as well.
From January 2013, employers can also opt to receive their refund amount online through 'My Business Account'.
For more information about doing business overseas or to know more about our international tax consulting team and our international accounting services please contact us.
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About Nair & Co.
Nair & Co. provides you with your one touch outsourced finance, HR, legal and global tax compliance department for your international operations. If you are expanding abroad for the first time or increasing your global footprint, our turnkey solutions help you do so with minimal risk, stress and cost. We support 4000+ client operations in over 56 countries and have core offices in U.K., India, China, U.S., Japan and Singapore. Nair & Co. was named among the top 100 outsourcing services providers in the world by the International Association of Outsourcing Professionals (IAOP). Learn more at www.nair-co.com
Get the latest press releases and updates on international tax, HR, Finance, compliance and other legal news at Nair & Co. Industry Alerts.
Nandita Verma
Nair & Co.
1250 Oakmead Parkway, Suite 210 Sunnyvale, CA 94085, U.S
Sunnyvale CA, 94085
408-515-6887
More information you can also find on website: Business
Source:
Canada extends Hiring Credit for Small Business: Updates from International Tax Consulting Team
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