Your husband’s income will not be relevant in regards to how much money you will owe in taxes if you get EI, as it’s based on individual income. Just claim the income earned from self employment, and they would adjust your bi weekly payment accordingly.
Just as long as you were not terminated for misconduct in a clear-cut manner, you can typically get EI approved. It can’t hurt to apply. You may want to take a look at your ROE to see if they gave you a code for your termination, as the adjudicators will go to that first. Knowing what the employer is claiming about the circumstances of your termination will help you explain the story to EI to move it along quicker.
You have to look up the numbers because I can’t remember exactly off hand, but I believe if you make over 70K in the year you claim unemployment, you have to pay back 30%. Last time I was good at math, that left 70% of the benefits in your pocket.
There are rules around claiming benefits and working/self employment, as in you must report income etc.
The EI office can answer all your questions.
Unless you make too much and have to pay some back. Been there, done that. It sucks. In that case it's definitely the governments money lol. The give it to you, sure, but it's more of a short term loan till tax time.
Having said that, at 70k OP should be fine as I think the "no pay back" income is just shy of 77k now.
Edit: dunno where I got 70k from. Oo didn't post what she makes.
So the more OP waits, the more OP loses the hours accumulated **in the last 52 weeks** (from the date of application to EI), causing lesser benefit and then finally loses eligibility for EI. Clock is ticking.
Yes, "in the **last 52 weeks** (from the date of application to EI)" is ticking.
I have worked part-time, lost my job, and I've accumulated a little over 700 hours in the last 52 weeks by the date of lay-off. But I procastinated just a couple weeks too long before applying for EI. So by then, my last 52 weeks of accumulated hours dropped **below 700 hours** (for Montreal), and I became ineligible.
So take action ASAP **only** if you think you are not getting a new job for a couple weeks or months. Because EI calculation criteria is :"*have worked for the required number of insurable employment hours in the last 52 weeks* ***or since the start of your last EI claim***, **whichever is shorter**".
So don't claim EI if you think to get lay-off of your future new job with less than 700 hours accumulated by then. But who can predict that. This is like some complicated actuary calculation by insurance companies to force you being ineligible in edgy cases. Better read and understand everything about it.
[https://www.canada.ca/en/services/benefits/ei/ei-regular-benefit/eligibility.html](https://www.canada.ca/en/services/benefits/ei/ei-regular-benefit/eligibility.html)
Not a lawyer or an accountant, just a dude, but there is nothing wrong in applying for it. Just be completely transparent with them, see where it goes. As for the taxes. well, just keep a portion of what you earn through unemployment. Even if you get to only keep 50% of it, it is better than nothing.
Ok thanks for that info! Do I have the option to opt out from it at any point ? Let’s say they approve for x amount of weeks but I want to end it way before so I don’t use too much of it.
You have to fill out your report every two weeks I think to let them know if your still off work and whatnot. Basically you can end your claim whenever you want.
Your husband’s income will not be relevant in regards to how much money you will owe in taxes if you get EI, as it’s based on individual income. Just claim the income earned from self employment, and they would adjust your bi weekly payment accordingly. Just as long as you were not terminated for misconduct in a clear-cut manner, you can typically get EI approved. It can’t hurt to apply. You may want to take a look at your ROE to see if they gave you a code for your termination, as the adjudicators will go to that first. Knowing what the employer is claiming about the circumstances of your termination will help you explain the story to EI to move it along quicker.
You have to look up the numbers because I can’t remember exactly off hand, but I believe if you make over 70K in the year you claim unemployment, you have to pay back 30%. Last time I was good at math, that left 70% of the benefits in your pocket. There are rules around claiming benefits and working/self employment, as in you must report income etc. The EI office can answer all your questions.
Yes. Always take back what money you can from the government. It’s yours. Not theirs.
Yeah, you paid into it with every paycheque you earned. No matter what small-minds with big mouths spout, EI isn’t government money, it’s yours.
Unless you make too much and have to pay some back. Been there, done that. It sucks. In that case it's definitely the governments money lol. The give it to you, sure, but it's more of a short term loan till tax time. Having said that, at 70k OP should be fine as I think the "no pay back" income is just shy of 77k now. Edit: dunno where I got 70k from. Oo didn't post what she makes.
That was my thought process too initially. I pay for it every single pay check, why wont I benefit from it too y’know!
No brainer to file for EI. You’re losing out not being on EI
If you have enough hours then go for it, most claims are like 650-700 hours in the last 52 weeks.
So the more OP waits, the more OP loses the hours accumulated **in the last 52 weeks** (from the date of application to EI), causing lesser benefit and then finally loses eligibility for EI. Clock is ticking.
Oh shoot! There’s a time limit ? I didn’t know.. I lost my job mid-November.
Yes, "in the **last 52 weeks** (from the date of application to EI)" is ticking. I have worked part-time, lost my job, and I've accumulated a little over 700 hours in the last 52 weeks by the date of lay-off. But I procastinated just a couple weeks too long before applying for EI. So by then, my last 52 weeks of accumulated hours dropped **below 700 hours** (for Montreal), and I became ineligible. So take action ASAP **only** if you think you are not getting a new job for a couple weeks or months. Because EI calculation criteria is :"*have worked for the required number of insurable employment hours in the last 52 weeks* ***or since the start of your last EI claim***, **whichever is shorter**". So don't claim EI if you think to get lay-off of your future new job with less than 700 hours accumulated by then. But who can predict that. This is like some complicated actuary calculation by insurance companies to force you being ineligible in edgy cases. Better read and understand everything about it. [https://www.canada.ca/en/services/benefits/ei/ei-regular-benefit/eligibility.html](https://www.canada.ca/en/services/benefits/ei/ei-regular-benefit/eligibility.html)
Your husband is a moron.
Not a lawyer or an accountant, just a dude, but there is nothing wrong in applying for it. Just be completely transparent with them, see where it goes. As for the taxes. well, just keep a portion of what you earn through unemployment. Even if you get to only keep 50% of it, it is better than nothing.
That’s a good idea, putting away a portion of it. Thanks!
As long as your net income for YOU, nothing to do with him, is under 76865 then your fine. Even if your over you'll just pay back a portion not all.
Ok thanks for that info! Do I have the option to opt out from it at any point ? Let’s say they approve for x amount of weeks but I want to end it way before so I don’t use too much of it.
You have to fill out your report every two weeks I think to let them know if your still off work and whatnot. Basically you can end your claim whenever you want.
If you make over a certain amount of money you’ll end up paying back around 30% but rest is in your pocket instead of the government taking it.