Bill C-300
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1st Session, 36th Parliament, 46 Elizabeth II, 1997
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The House of Commons of Canada
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BILL C-300 |
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An Act to amend the Employment Insurance
Act, 1997 (refund)
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| 1996, c. 23
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1. Subsections 96(4) and (5) of the
Employment Insurance Act are replaced by
the following:
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| Refund -
insurable
earnings up to
$5,000
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(4) If a person has insurable earnings of not
more than $5,000 in a year, the Minister shall
refund to the person the aggregate of all
amounts deducted as required from the
insurable earnings, whether by one or more
employers, on account or the person's
employee's premiums for that year.
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| Refund -
insurable
earnings over
$5,000
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(5) If a person has insurable earnings of
more than $5,000 in a year, but the insurable
earnings minus the aggregate of all amounts
mentioned in subsection (4) are less than
$5,000 , the Minister shall refund to the person
an amount calculated in accordance with the
following formula if that amount is more than
$1:
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$5,000 - (IE-P)
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where
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P is the aggregate of all deducted amounts
mentioned in subsection (4); and
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IE is the person's insurable earnings in the
year.
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