I had a T4 for my first 6 mos as Self Employed. What box from the T4 would I use for "Employment Insurance Premiums on Self-Employment and Other Eligible Earnings"?

[lamanhcb]

Employed workers would have an amount for Employment Insurance Premiums deducted from their pay cheque, and their employer would also pay a premium as well. A self-employed person would have to pay both the employee and employer’s premium amounts.

On the T4, Box 24 - EI Insurable Earnings is the amount of income that you would base your Employment Insurance Premium calculations on. You would multiply the amount in Box 24 by 1.58% (the 2021 EI premium rate) or 1.18% if you are in Quebec. This will give you the premium that the employee must pay (normally shown in Box 18 on the T4). Then you would times this by 1.4 to calculate the employer premium.

This Canada Revenue Agency (CRA) page has more information on Employment Insurance Premiums for the Self-Employed: EI special benefits for self-employed people

This Canada Revenue Agency (CRA) page has more information on calculating Employment Insurance Premiums: Calculating EI premiums

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