Each month, or less frequently depending on when income is earned by clients, ministry staff are to:. Clients are responsible for submitting all monthly income reports to the ministry using the form specified by the EAW [see Policy — Reporting Requirements].
Clients who have questions about the use of either the simplified short form HRS or long HRL form should be encouraged to get clarification from ministry staff before submitting their monthly reports to the ministry. If a client has been required to report income on the HRS simplified short form, the review is to be conducted by an EAW. If a client is required to use the HRL long form, the designated subject matter expert on self-employment is to conduct the review.
More detailed reviews of self-employment income, including re-administration of the HR Questionnaire to determine if the long form should be used to report income and business assets , may be requested of clients using the HRS short form at any time if any of the following occur:. The EAW must ensure the receipts are for items that are considered to be permitted business expenses in accordance with BCEA regulations.
Annual business reviews provide the ministry with the opportunity to look at SEP employment enterprises in greater detail on a regular basis. EAWs and designated subject matter experts in self-employment shall conduct annual business reviews of all clients participating in SEP once each year.
The amount of detail required in an annual business review will depend on the nature of the business and the level of business activity. A business plan may be required if an eligible client who wishes to participate in the Self-Employment Program SEP seeks to develop a new business opportunity to earn money through some form of self-employment, or if a client with an existing business seeks to participate in SEP. Business plans may vary in detail depending on the nature, size and complexity of the business.
In order for a business loan to be exempted as an asset when calculating monthly earnings and business assets, the client must have a business plan that is sufficiently detailed and is accepted by the ministry.
When a business plan is required, the plan must be submitted to the ministry prior to authorization of the Self-Employment Program SEP deductions and exemptions and business launch by a client starting a new business. The business plan may be as basic as a description of the business opportunity including the product or service to be sold, and projected gross revenues, expenses and monthly and yearly net income [see Questionnaire HR, regarding the description of a new business].
More detailed business plans would be required for businesses that are more complex or larger in scale e. To be acceptable by the ministry, a business plan must be a written document that minimally outlines all of the following:. If required due to a business loan, the business plan must be recommended for ministry acceptance by a designated ministry worker prior to authorization of the use of SEP deductions and exemptions by the client.
Exceptions to Business Plan Requirement: In some circumstances, ministry staff have the ability to waive the requirement for new SEP clients to have a business plan.
When the requirement to have a business plan is waived, the monthly reporting requirements and limits on deductions and exemptions continue to apply.
Any of the following are circumstances in which the requirement for a business plan may be waived:. Note: A summary of the allowable SEP deductions and exemptions follows, however, Schedule B of the Employment and Assistance Regulation or Schedule B of the Employment and Assistance for Persons with Disabilities Regulation should be consulted for the legal references to the deductions and exemptions [see Acts and Regulations].
Gross revenue derived from operating a business under SEP may be exempted if used for any of the following:. Note: Fees may include commissions that are charged against a client for short-term, occasional earnings e.
However, commissions earned as income may not be considered as permitted deductions from gross income. For clients with ministry-approved business plans, amounts for the aggregate value of assets and loans that exceed the limits established by regulation may be exempted if both of the following are met:. For clients who are to use the long form to report income and assets , HRL :.
Instructions are provided on the HR to ensure that clients may utilize the appropriate business deductions and exemptions available when reporting their monthly earnings to the EAW. EAWs may notify Self-Employment Program SEP participants of any missing monthly reports and any errors, omissions or deficiencies in their submissions.
If participants are able to promptly remedy any ministry concern of non-compliance for example, a deficient or late monthly report , EAWs may continue to authorize the SEP deductions and exemptions.
If participants do not remedy problems before monthly cheque cut-off, they will be found to be non-compliant. As a parent and former instructor I have a sincere interest in what you are doing. I sent you a quick response via email. Thanks for stopping by our blog! I would love some further guidence to see if i would qualify to start my own nursing agency as well as teaching the public service worker postion.
I would like to teach the course then employ my students. Are there any programs or funding opportunities that I could look into? Many thanks! Hello Christina, The majority of grant funding programs -probably not. However, there are a multitude of resources including the availability of free support services and loans from not-for-profit organizations.
It will also depend on where you live -i. Northern Ontario has very generous programs for start-ups. Thanks for stopping by our blog Alexis! I sent you an email requesting a bit more information about your business so that I can point you in the right direction.
I am currently unemployed and recieving unemployment insurance but would like assistance with a small business idea that I have. I have no previous business training and would very much like an opportunity to apply for this program. If you could please send me an application for this program I would very much appreciate it.
Each type of special benefit has its own maximum weekly rates of pay, as well as the maximum number of weeks you can collect the benefit.
There are some important factors to take into consideration before you decide as a self-employed worker to opt-in to the program:. An extended leave might not be suitable for a business that relies on your time and effort to keep running. Rather than opting-in to the EI program, you might consider investing the equivalent of the premiums instead. This of course is not equivalent to the dollar amount of any special benefits you may receive, so you may want to add a little extra to that account if you are planning an event such as an adoption or pregnancy.
He also writes a monthly column for the Toronto Star. Robb lives in Lethbridge, Alta, with his wife and two children. Alternatives: Self-employed individuals do have some flexibility on their CPP contributions depending on the way their business is structured. EI for Self-Employed While paying double the CPP contribution rate might seem excessive for some entrepreneurs, the good news is that self-employed workers do not have to pay EI premiums. There is, however, a misconception that only salaried employees can enjoy the protections under this scheme.
Simply, self employed individuals can register for EI special benefits as well. It can even be argued that, with greater uncertainties around work, income-replacement that EI provides is more relevant for someone who is self employed.
In this article we explain the EI special benefits scheme for the self employed. Ours is not an exhaustive explanation, so it is advisable that you get in touch with an employment lawyer Toronto to understand the specifics. Employment Insurance is the program of the Canadian government which provides temporary income support to workers who are out of employment. This can be for reasons such as unemployment, time for study, injury or illness, pregnancy and parental care.
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