Increased Employment Incentive (IEI)
“British Columbia. Finance”
The funder does not disclose this information
Maximum Eligible Amount
Tax Credit
Fund Type
The increased employment incentive allows employers to apply for a one-time tax credit. The credit is 15% of the amount that the employer’s total eligible remuneration for all eligible employees in the qualifying period exceeds the employer’s total eligible remuneration for all eligible employees in the base period.
The base period is from July 1 to September 30, 2020. The qualifying period is from October 1 to December 31, 2020. The credit: does not have a maximum amount but a credit amount less than $10 will not be paid; is not reduced by any provincial or federal support you may receive, such as the B.C. training tax credits or the federal Canada Emergency Wage Subsidy (CEWS); will offset any provincial tax debts an employer has outstanding at the time the credit is payable, such as the employer health tax or the provincial sales tax.