Back to Home PageWelcome Guest! Register | Login | Home | Contact Us | Site Map | Advertise | FAQ | Search
Canadian Desi
    Charcha


        
  Canada Immigration Forum > About Canada > Accounting and Taxation > On EI currently and adding as a director to a company
Last Post | Newest Post
 
< [ 1 ] >

On EI currently and adding as a director to a company




Hi,

My Wife is currently on EI.

Can i open a company and add her as a director without her EI getting affected.

She wont be paid anything from the company now , but adding her to the company allows me to pay dividend to her in future without additional work.


I am asking this question because one of the online questions for her EI payment is "Do u own a company"


Thanks
The Dude..


 
Last edited by: dudewheresmycar on 14-04-09 21:15:07
dudewheresmycar

Senior Desi
Member since: Jan 07
Posts: 980
Location:

Post ID: 141816 14-04-09 20:53:36
Report Abuse
tamilkuravan
Senior Desi
Member since: Jun 05




Posts: 5756
Location: God's own country

Nope
Quote:
Originally posted by dudewheresmycar
Hi,
My Wife is currently on EI.
Can i open a company and add her as a director without her EI getting affected.
She wont be paid anything from the company now , but adding her to the company allows me to pay dividend to her in future without additional work.
I am asking this question because one of the online questions for her EI payment is "Do u own a company"


Hi Dude,
I am getting EI and filig reports every fortnight. I have never seen any question as to if you own a company. The only thing I see is if you have earned any income.
You can collect / have income of 40% of your weekly EI payout a week without having to lose any $ of EI. After the 40%, your wife will be deducted $ for $ on any income above the 40%.
So I see no problem of you adding her as a director of the company. It is your choice.
You can get extra income from the EI people (when you take a course which runs for 2-3 years) / Govt. by keeping your income as low as possible which is advisable.
See the pro's and con's...
Peace by TK

-----------------------------------------------------------------
I am a Gents and not a Ladies.

 
Post ID: 141826 14-04-09 22:43:25
Report Abuse
Fido
Senior Desi
Member since: Aug 06




Posts: 5286
Location: Canada


Deleted ---
-----------------------------------------------------------------
Fido.

 
Last edited by: Fido on 15-04-09 06:52:01
Post ID: 141839 15-04-09 06:48:53
Report Abuse
dudewheresmycar
Senior Desi
Member since: Jan 07




Posts: 980
Location:



The question says "Are u self employed"

If u look at the help for the question it says if u own a company u answer yes to the question.

I called up EI office to clarify on this..

This is how it works.

You answer yes to that question,

Ur EI payment will be held back

Then the EI office will get in touch with you to find out if u are actively looking by asking a bunch of other questions like time spent etc..

If they are satisfied then u have option of paying upto 40% of EI as wages from ur self employment and get all ur EI.



Quote:
Originally posted by tamilkuravan

Quote:
Originally posted by dudewheresmycar
Hi,
My Wife is currently on EI.
Can i open a company and add her as a director without her EI getting affected.
She wont be paid anything from the company now , but adding her to the company allows me to pay dividend to her in future without additional work.
I am asking this question because one of the online questions for her EI payment is "Do u own a company"


Hi Dude,
I am getting EI and filig reports every fortnight. I have never seen any question as to if you own a company. The only thing I see is if you have earned any income.
You can collect / have income of 40% of your weekly EI payout a week without having to lose any $ of EI. After the 40%, your wife will be deducted $ for $ on any income above the 40%.
So I see no problem of you adding her as a director of the company. It is your choice.
You can get extra income from the EI people (when you take a course which runs for 2-3 years) / Govt. by keeping your income as low as possible which is advisable.
See the pro's and con's...
Peace by TK



 
Post ID: 141876 15-04-09 18:22:11
Report Abuse
chandresh
Senior Desi
Member since: Mar 03




Posts: 2604
Location: Toronto


Without referring to the discussions others have had, I would advise you to first decide what the real issue is - directorship and ownership are two different aspects. One can be a director without being an owner and similarly, one can be an owner without being a director, and lastly, one can be a director and an owner.

What exactly do you want to do?



Quote:
Originally posted by dudewheresmycar

Hi,

My Wife is currently on EI.

Can i open a company and add her as a director without her EI getting affected.

She wont be paid anything from the company now , but adding her to the company allows me to pay dividend to her in future without additional work.


I am asking this question because one of the online questions for her EI payment is "Do u own a company"


Thanks
The Dude..



-----------------------------------------------------------------
Chandresh

Advice is free lessons I charge for!!

 
Post ID: 141883 15-04-09 22:08:32
Report Abuse
dudewheresmycar
Senior Desi
Member since: Jan 07




Posts: 980
Location:



Ok u are right Director and owner is different i should correct myself ..I want to add my wife as joint owner of the company.. but she is on EI.


Regardless Adding as owner makes her self employed in the eyes of EI department.. and hence she has to go through additional process for getting the EI..

I have got the info from EI office.. just providing updates for everyones knowledge.


Quote:
Originally posted by chandresh

Without referring to the discussions others have had, I would advise you to first decide what the real issue is - directorship and ownership are two different aspects. One can be a director without being an owner and similarly, one can be an owner without being a director, and lastly, one can be a director and an owner.

What exactly do you want to do?



Quote:
Originally posted by dudewheresmycar

Hi,

My Wife is currently on EI.

Can i open a company and add her as a director without her EI getting affected.

She wont be paid anything from the company now , but adding her to the company allows me to pay dividend to her in future without additional work.


I am asking this question because one of the online questions for her EI payment is "Do u own a company"


Thanks
The Dude..





 
Post ID: 141885 15-04-09 23:54:32
Report Abuse
tamilkuravan
Senior Desi
Member since: Jun 05




Posts: 5756
Location: God's own country

EI office
Quote:
Originally posted by dudewheresmycarOk u are right Director and owner is different i should correct myself ..I want to add my wife as joint owner of the company.. but she is on EI. Regardless Adding as owner makes her self employed in the eyes of EI department.. and hence she has to go through additional process for getting the EI..I have got the info from EI office.. just providing updates for everyones knowledge.


EI office answers the same question differently when you speak with different agents.
IMO, As long as your wife does not get any payment from being an owner / director of a company, she is fine to receive EI.
What EI questionarre asks if that "Are you self Employed"? Being 'Self Employed" may mean that if you are receiving additional income apart from EI by doing any other work. As long as your wife does not recive any income (as she is not doing any work), you may not need to disclose her being a director / owner of a dormant company.
however, if she received money from the company as well as EI, she HAS TO disclose her source of imcome.
Hope this helps.

Peace by TK

-----------------------------------------------------------------
I am a Gents and not a Ladies.

 
Post ID: 141927 16-04-09 16:18:21
Report Abuse
< [ 1 ] >
 
Show Printable version
Send this page to a friend
Add to favorites
 


 
Web
CanadianDesi
Please Contribute!
Write an Article
Send Community News
Create Photo and Video Albums
Submit Good Pictures
List Useful Websites
Post Jobs
Submit Events
List for FREE!
Businesses
Classifieds
Social Organizations
Religious Places
Employment Agencies
Email Page
Your Email
Friend\'s Email

Advertise Contact Us Privacy Policy and Terms of Usage FAQ
Canadian Desi
© 2001 Marg eSolutions


Site designed, developed and maintained by Marg eSolutions Inc.