Changes in your business that can affect the HCSB

If you hired employees in your second reporting tax year

For your second reporting tax year, you do not have to keep special records for employees that you hired or for the increased employer employment insurance (EI) premiums that you paid.

If you started a new business

If you received a new business number (BN) for a new business, you will receive the hiring credit for small business (HCSB) if you are eligible. We will use a zero value for the employer's share of EI premiums for the first reporting year when we calculate the amount of the credit that you are eligible to receive.

If you sold or closed your business

If you sold or closed your business in the first reporting tax year, you will not be eligible to receive the HCSB.

If you sold or closed your business in the second reporting tax year, you may be eligible to receive the HCSB if, before the sale or closure, you paid more employer EI premiums in that year than you did in the previous year, and your total employer EI premiums were equal to, or less to than, the threshold.

If you restructured your business

If you restructured your business in the second reporting tax year and received a new BN, you will receive the HCSB if you are eligible. We will use a zero value for your employer's share of EI premiums in your first reporting tax year when we calculate the amount of the credit that you are eligible to receive.

Date modified:

2016-01-05