EI to farm families

[Hopperbin]

Crusher why wouldn't you pay yourself a wage? If you don't pay yourself a wage you have no CPP when you retire. From what I understand dividends are taxable to the corporation so you pay the corporate tax rate right from 0 up. At least wages are deductible to the corp and the tax rate is 0 to start and low up to a certain point. You should be paying yourself some wage. As far as the EI is concerned I would not pay in unless we were planning to have a baby, then opt back out after done making the family.

[Hopperbin]

I think if your not paying yourself a wage you need a new accountant.

[fjlip]

To get EI special benefits, self-employed individuals would need to have earned at least $6,000 in self-employed earnings over the preceding calendar year.
The self-employed could also opt out of the EI program at the end of any tax year, as long as they have never claimed benefits. If they have claimed benefits, they would have to contribute on self-employed earnings for as long as they are self-employed.

Wages are NOT self-employed, and you can NEVER opt out. Won't work.

[crusher]

Hopperbin,

I've got an accounting firm and I pay them large. I prefer to take the 10% and invest it myself. We've run the numbers enough time to see corp tax with dividend beats paying a wage. I'm still young enough, if the CPP numbers look sexy, I can opt into the program.

[Hopperbin]

Have to stay in for life because want to claim while having a family? Screw that then.

[skhadenuf]

WOW WOW WOW another clusterfu$$ in the making how many thousands of civil servants gonna be needed for this one. You're getting a loan basically to have a child and you pay the loan for the rest of your life HA HA HA HA HA HA HA HA HA I can see the headlines now Government pumping more money into farm families, we just won't mention that you have to pay it all back and more. Man we have all the genious people at their finest hours on this one, must be the same ones that developed the CAIS program. The question I have is which political riding will all of those thousands of civil servants be working out of?
I have no problem of the idea of help for those having kids but come on a loan????

[Choice2U]

If memory serves me correct from a paycheque years back, I calculated that it would take only 2-3 months on EI to get back what you would have paid over 10 years through EI deductions. Me thinks this is a better cash cow in the short term for an individual than the government. The collective good of sharing the EI payer's wealth is as strong as ever.

[skhadenuf]

Yeah you're probably right to some extent, and there are those untold side contibutions to the economy, you know those 55 to 65 year old grandma and grandpas with 70 % of their crop in the field and no income until spring nothing to do, now there is an option. Buy a case or two of viagra light up the wood stove pop in a bottle or so and maybe even if you need help you could rent cotton's 5 ton boom truck, rig something up with the extendable ram to get the job done and somehow by spring just in time to harvest you'll qualify for EI. You'd have to lie just a little about not working all winter. But just think you only have to pay back for what another 20 or 30 years and not 50 to 60 years. Yeah this thing could really fly about as good as bullshit does.