Legislative roundup

Government tables budget bill; Reminder: Victoria Day is a statutory holiday in most jurisdictions; Manitoba bill proposes measures to protect temporary help workers; Minimum wage going up in P.E.I.; Reminder: Minimum wage increased May 1 in Quebec; Minimum wage going up in Sask.; Yukon bill proposes changes to child-related leaves
|Canadian Payroll Reporter|Last Updated: 05/13/2014

Government tables budget bill

Finance Minister Joe Oliver recently tabled legislation that would implement some of the proposals put forward in this year’s federal budget, as well as other measures.

Bill C-31, the Economic Action Plan 2014 Act, No. 1, would amend the Income Tax Act Regulations to reduce the frequency of source deduction remittances for small and medium-sized employers. In the budget, the government proposed to increase the thresholds for accelerated remitters from $15,000 to $25,000 for threshold 1 and from $50,000 to $100,000 for threshold 2. The change would take effect Jan. 1, 2015.

The bill also proposes to amend the Income Tax Act to introduce a non-refundable tax credit for eligible search and rescue volunteers. The proposed tax credit would allow an eligible individual to claim a 15 per cent non-refundable tax credit based on an amount of $3,000. To be eligible for the tax credit, individuals would have to carry out a minimum of 200 hours of search and rescue services per year. The proposal would apply to 2014 and later tax years.