My name is Ray Cuthbert. I am the director of the Canada Pension Plan and employment insurance rulings division in the Canada Revenue Agency.
We are here to talk about part 4, division 15, the hiring credit for small business for 2012. Essentially, it is the same as the hiring credit for 2011, except for the reference to the years involved.
Small businesses that had employer EI premiums for 2011 of $10,000 or less and whose employer EI premiums in 2012 have increased are eligible for a credit. The credit is equal to the difference between the employer EI premiums in 2012 and 2011. It must be greater than two dollars and it cannot exceed $1,000. The credit is calculated automatically by the Canada Revenue Agency upon processing of the employers' 2012 T4 information return.
We would be pleased answer any questions.