Finance Minister Flaherty announced today that the proposed 2012 hike in EI rates will be slashed.

EI premiums were going to increase in the 2012 by 10 cents per $100 for employees and by 14 cents per $100 for employers. That has been slashed in half to 5 cents and 7 cents.

In real dollars, this isn’t a lot of money actually saved per employee. In my opinion, it’s more of a way for the Canadian government to acknowledge that the job market is not strong.

Filed under: Business tax, Personal Tax by David Boese No Comments »