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

N.L. budget raises exemption threshold on payroll tax • Think-tank suggests payroll tax to fund Ontario drug program • Hiring to remain steady in second quarter • H1N1 more potent than seasonal flu for absenteeism: Study • Restaurant fined for failing to provide payroll records to labour standards officer • Index Sask. minimum wage to CPI: Report • Almost 8 per cent of people aged 45 to 64 had bankruptcy in adulthood: StatsCan
|Canadian Payroll Reporter|Last Updated: 05/04/2011

N.L. budget raises exemption threshold on payroll tax

St. John’s, N.L. — Newfoundland and Labrador is raising the threshold on payroll tax exemptions from $1 million to $1.2 million, retroactive to Jan. 1, 2011. Finance Minister Tom Marshall announced the changes in the province’s 2011 budget. Raising the threshold will remove 90 businesses from the tax rolls and reduce the tax burden for 845 others. “This measure will put $2.3 million back in the hands of our province’s employers,” he said. Prior to the budget, the St. John’s Board of Trade advocated for the elimination of the province’s payroll tax, saying it decreased motivation for hiring workers and increasing salaries. But Marshall said eliminating the payroll tax completely would have cost the government $63 million, according to a report in The Telegram.