Parry Sound-Muskoka MP Tony Clement says the Small Business Job Credit is good news for local businesses. He says it will effectively lower small businesses’ Employment Insurance (EI) premiums from $1.88 to $1.60 per $100 of insurable earnings in 2015 and 2016.
Firms that pay employer EI premiums equal to or less than $15,000 in those years will be eligible for the credit. Clement says small businesses are the backbone of the Parry Sound-Muskoka economy. He says this payroll tax reduction will make room for them to grow.