Legislative roundup: Changes in payroll laws and regulations from across Canada

CRA stops mailing T244 to registered pension plan administrators • National Aboriginal Day a statutory holiday • New B.C. pension legislation introduced • Saskatchewan government to consult on renewal of labour legislation • Manitoba announces minimum wage hike • National holiday in Quebec is June 24 • Nova Scotia WCB approves changes to policies that affect assessment rates • CRA revises TD1NS

ALBERTA

CRA stops mailing T244 to registered pension plan administrators

The Canada Revenue Agency (CRA) has stopped mailing the Annual Information Return (form T244) to registered pension plan administrators.  Previously, the CRA mailed blank copies of this form to plan administrators who did not have an agreement covering these returns with their provincial authority or another regulator. In accordance with paragraph 8409(1)(b) of the Income Tax Regulations, this information return must be filed with the CRA within 180 days following the registered pension plan fiscal year end.  This form must still be completed by plan administrators and sent to the CRA. The T244 can be found online at www.cra-arc.gc.ca/E/pbg/tf/t244/README.html.

This change is in line with the sustainable development strategy released by the federal government in October 2010, according to the CRA. Questions or concerns can be directed to the CRA’s general enquiry group at www.craarc.gc.ca/tx/rgstrd/cntct-eng.htm.

NORTHWEST TERRITORIES

National Aboriginal Day  a statutory holiday

June 21, National Aboriginal Day, is a statutory holiday in the Northwest Territories.
 
BRITISH COLUMBIA

New B.C. pension  legislation introduced

The government of British Columbia has introduced legislation to modernize the Pension Benefits Standards Act and allow the private sector to offer a wider choice of pension plan options. Bill 38 brings improvements to pension legislation by reducing administrative costs and enhancing the rights of pension plan members, including immediate entitlement to employer-paid contributions and more information about how a plan is operating, said the government. The bill will extend the same right to receive plan information to retired members. It also establishes a framework that will give former pension plan members the option of withdrawing locked-in funds in a registered retirement savings plan (RRSP) or life income fund in cases of financial hardship. The changes permit innovative alternatives to existing plans, such as jointly sponsored cost-sharing pension plans and target benefit plans. Under the jointly sponsored cost-sharing plan model, similar to what currently exists in public sector pension plans, employers and employees would contribute equally to all elements of the pension plan, said the government. Other key amendments include requiring governance and funding policies for defined benefit (DB) and target benefit plans. The bill provides the superintendent of pensions the power to levy administrative penalties and appoint replacement administrators or actuaries. The changes will also ensure legislative support exists for the regulation of pension plans that have members located in more than one province, the government said.

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