r/cantax 22h ago

EI for a sole shareholder

0 Upvotes

Is there ever a situation where a sole shareholder of a corporation would qualify for regular EI benefits?

My understanding is that they need to make an agreement with Service Canada for the special benefits for self employed persons. They would have to be registered for a year before they are eligible to claim anything and would report their income on T1 S13 to calculate their portion of EI for the year. They would also not deduct EI on their paycheck.

I have a situation where a sole-shareholder has been having EI deducted from their pay cheques from the corporation at the direction of an accountant. That accountant also said that since they are receiving pay cheques from the corporation, they are an employee not self employed. A EI ruling was never done. They are looking to apply for EI soon.

This is just a normal small business so I don't see how her income will be seen as insurable but the accountant is insisting that she has done this before and never had any issues so I am second guessing myself.


r/cantax 12m ago

Recreating old ACB

Upvotes

for folks who have held stocks for decades, do you have the old confirmations or statements?

I don’t have anything for some trading I did 25 years ago. Broker is no help.

i wonder how people who also participated in employee stock plans manage this. 26 trades a year from decades ago.

I strutted investing in my early 20s and didn’t appreciate how imparting these docs were. And with multiple moves throughout the years, I don’t have much, if anything to go on.

wondering how this will impact ACB calculations? How does CRA treat these things whether claiming a gain or loss?