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Hiring credit for small business (HCSB)

| November 12, 2011

In the 2011 federal budget a new one-time hiring credit for small businesses was created. The purpose is to stimulate new employment and support small businesses by giving relief from the employer’s share of employment insurance (EI) premiums paid in 2011.

Below, we have summarized for our readers. You can read the full article on the Canada Revenue Agency (CRA) website.

WHO IS ELIGIBLE?

  • Employers and Businesses that pay the employer’s share of Employment Insurance (EI) premiums to a payroll account.
  • Individuals who have chosen to pay EI premiums on their self-employed earnings are not eligible.

Click here for complete publication.