CPP and EI

[mickyc]

1) When I file my taxes next year, (Ontario) I'd like to pay into EI. Would I just let my accountant know at that time, or do I have to sign up for it with service Canada?

In Manitoba we just sign up through Service Canada, I imagine it is the same there.

2) Also, once we do pay into EI, how does it work. When we have no children are we able to collect, or is it a certain of amount of $ per work you are able to claim, even if you have 1 child or 2? How does the EI work when providing care from home?

You have to pay into EI for a year before applying for it. It is calculated on your net income. you only would receive 55%. I think the max you can pay into it a year is around $850. There again check the service Canada website for full details.

3) Currently I am on EI. I hold a position in which lays me off each summer due to slow season, however I return every September. If I were to quit my job, and open am in home daycare, would I be able to continue to collect EI or some of it until I get some clients?

This is also something that you would be best to call Service Canada and ask about. There will likely be an amount you are allowed to earn before it gets deducted from your current EI payments. Any amount you make over that would be deducted from your EI that are paying you. You need to check and see what the amount is that you can make without it being deducted from your EI payments.

4) how much percentage of home expenses (electricity, etc) are we able to claim when filing our taxes and what expenses can we claim?

I claim 50% of my home for daycare as it is in my full basement. That means I claim 50% of all expense - hydro, water, TV, internet. I claim a portion of my vehicles (insurance, gas, interest on loans), my property taxes, my interest on mortgage, house insurance, household repairs/renos, huge purchases like a new fridge/computer/washer etc. (my accountant figures out what percentages of everything, I just give him the totals). As far as all daycare supplies like daycare furniture/toys/crafts supplies/office supplies etc I claim 100%.

5) How much percentage of daycare expenses (toys etc) are we able to claim?

100%, see above


When it comes to CPP and EI my accountant figures out what I owe for each when he does my taxes.