Pregnant!

[5 Little Monkeys]

Congrats!!!!!

[torontokids]

Does anyone know if EI is calculated based on Gross or Net income? I thought it was gross income but when I look at Service Canada's site it just states "55% of insurable earnings." Google searches are coming up not too helpful. TIA

I am going to call Service Canada with a million questions tomorrow...if I can get through. Today I was on hold for an hour until the phone disconnected me!

[CrazyEight]

I THINK it's after deductions....but don't quote me on that!! Service Canada is terrible to get a hold of - good luck!

[Suzie_Homemaker]

Does anyone know if EI is calculated based on Gross or Net income? I thought it was gross income but when I look at Service Canada's site it just states "55% of insurable earnings." Google searches are coming up not too helpful. TIA

It's your gross income but your businesses net income. Earnings less expenses claimed = your business profit.

[Lee-Bee]

Also worth noting...the EI you get is taxable but they do not take the taxes off before giving it to you. You'll need to put some money aside for tax season so you don't end up with a tax bill you weren't expecting to pay.

[Van]

Be Careful what you choose Torontokids as I was on EI in 2003 set up my home daycare in 2004 when EI was finished then 2 years later EI came looking for proof that I was not running the daycare while on EI, I had a letter setting up daycare insurance for after the EI period so it was fine
Congrats