News in brief: A look at news, facts and figures shaping the world of payroll professionals

Demand for specialized payroll professionals increasing: Survey

TORONTO — The demand for payroll professionals with specialized skills is increasing, says a new salary survey by Hays Canada. The survey results were released with the launch of the company’s first Canadian payroll salary guide.

"Based on the results from this year’s guide, we learned not only that payroll is becoming more specialized, but also that the profession is changing as employers aim to become more lean and efficient," said Antony McElwee, senior manager with Hays Accounting and Finance.

"The demand for specialized skills sets and experience is rising, resulting in competition for payroll professionals, particularly those with complex experience in multi-province and international (particularly the U.S.) payroll and unionized environments, as well as professionals with payroll compliance knowledge. Hybrid roles with an element of HR and benefits experience are also becoming more sought after by mid-sized companies."

The survey, done in collaboration with the Canadian Payroll Association, polled more than 2,000 Canadian payroll professionals and practitioners. It found employers are having a difficult time finding entry-level payroll professionals with certain specialized experience in specific technical systems (such as PeopleSoft, SAP or cloud-based systems).

As a result, salaries for these workers are going up as employers compete to hire them.

OTTAWA — The prescribed rate for taxable benefits to employees and shareholders from interest-free and low-interest loans is one per cent from April 1 to June 30 the Canada Revenue Agency has announced. The rate is unchanged from the previous quarter. The interest rate for unpaid source deductions, overdue taxes and insufficient instalments is five per cent for the second quarter.

Payroll earnings up 0.9 per cent in December: StatsCan

OTTAWA — Average weekly earnings of non-farm payroll employees were $933 in December, up from $928 in November, Statistics Canada reports. On a year-over-year basis, weekly earnings increased 2.9 per cent.

The increase in weekly earnings during the 12 months to December reflected a number of factors, including wage growth, changes in the composition of employment by industry, occupation and level of job experience, as well as average hours worked per week. Non-farm payroll employees worked an average of 33.1 hours a week in December, up from 32.9 hours in November and 33 hours in the previous December.

Year-over-year earnings of non-farm payroll employees increased in all provinces, with the highest growth in Alberta, Newfoundland and Labrador, Saskatchewan and Prince Edward Island.

OTTAWA — Canada’s economy lost 7,000 jobs in February, but the unemployment rate remained at seven per cent, Statistics Canada reports. The results are a change from the previous month when the economy gained 29,400 jobs.

The public sector lost 50,700 jobs, while the private sector gained 35,200 jobs. Job losses tended to be in part-time work. Part-time employment was down 25,900 jobs from January, while full-time employment rose by 18,900 jobs.

On a provincial basis, Saskatchewan had the lowest unemployment rate at 3.9 per cent, while Newfoundland and Labrador had the highest at 11.8 per cent.

In the United States, the U.S. Bureau of Labor Statistics reports the American economy added 175,000 jobs in February; however, unemployment rate went up slightly from 6.6 per cent to 6.7 per cent.

EDMONTON — The 2014 Alberta provincial budget, which Finance Minister Doug Horner delivered on March 6, did not contain any changes affecting personal income tax rates or tax brackets. Budget documents did note the government plans to provide new funding to increase workplace safety, produce better labour market information and assist businesses in finding skilled workers.

Manitoba budget proposes minimum wage hike

WINNIPEG — The Manitoba government is planning to raise the provincial minimum wage rate this year, Finance Minister Jennifer Howard announced in the province’s 2014 budget. Budget documents, which were released on March 6, did not contain any details on when the rate change might occur or how much the increase would be. The government last raised the minimum wage on Oct. 1, 2013, to $10.45 an hour.

The budget did not propose any changes to personal income tax rates or tax brackets or to the Health and Post Secondary Education Tax Levy.

REGINA — The 2014-2015 Saskatchewan budget, which Finance Minister Ken Krawetz delivered on March 19, did not contain any changes affecting personal income tax rates or tax brackets.

No new taxes were announced.