E.I. (Employment Insurance) premiums will be frozen for the next - TopicsExpress

E.I. (Employment Insurance) premiums will be frozen for the next three years. Finance Minister, Mr. Jim Flaherty announced today, that employment insurance premiums will be frozen for the next three years. “Previously planned rate hikes are no longer necessary and the freeze will save businesses and employees hundreds of dollars” The premium rate will remain at the 2013 level of $1.88 per $100 of insurance earnings. Mr. Flaherty said the unemployment rate has been falling and EI account is OnTrack to return to balance sooner than expected. He also noted that 60 per cent of the cost of EI premiums is borne by employers, and the freeze will promote hiring. The Canadian Federation of Independent Business says it is happy with the announcement. For more info. on how this may affect your small business, or if you need help with your payroll. Feel free to contact us at 416.454.8812 or visit us at accountingontrack

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