The Canadian government has announced the Small Business Job Credit for 2015 and 2016 with, which effectively reduces payroll taxes by ~15% for qualifying businesses. The credit is equal to the difference between premiums paid at the legislative rate of CAD 1.88 per CAD 100 of insurable earnings and a reduced rate for small businesses of CAD 1.60 per CAD 100.

The credit applies for small busin…