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Wednesday, April 4, 2018

2018 Budgets for Certain Provincial and Territorial Governments (addition of Manitoba, Ontario, Newfoundland and Labrador, Alberta, Nova Scotia, Manitoba and the Yukon)

The governments of Ontario (March 28), Newfoundland and Labrador (March 27), Alberta (March 22), Nova Scotia (March 20), Manitoba (March 12), the Yukon (March 1), British Columbia (February 20), the Northwest Territories (February 8) and New Brunswick (January 30) recently tabled their budget. Here is the impact that these budgets will have on payroll.

Ontario (March 28)

The Finance Minister tabled a budget that will have an impact on payroll production.

The government is proposing to simplify the personal income tax (PIT) by eliminating the surtax and replacing it with new rates and brackets starting in the 2018 tax year. The changes to PIT withholding would normally begin on July 1, 2018.

We will advise you via the SMB Portal as soon as the government provides details on the application of these measures.

Read about the budget.

Newfoundland and Labrador (March 27)

The Finance Minister tabled a budget that will have no impact on payroll production.

Read about the budget.

Alberta (March 22)

The Finance Minister tabled a budget that will have no impact on payroll production.

Read about the budget.

Nova Scotia (March 20)

The Finance Minister tabled a budget that will have no impact on payroll production.

Read about the budget.

Manitoba (March 12)

The Finance Minister tabled a budget that will have an impact on payroll production.

The basic personal amount will be increased for 2019 and 2020.

Read about the budget.

Yukon (March 1)

The Finance Minister tabled a budget that will have no impact on payroll production.

Read about the budget.

British Columbia (February 20)

The Finance Minister tabled a budget that will have an impact on payroll production.

The government has announced that starting January 1, 2020, the premiums for the Medical Services Plan (MSP) will be eliminated.

The government has also announced that starting January 1, 2019, a new health contribution will be paid by the employer in order to replace the MSP premiums. The contribution rate will be established based on the employer’s payroll.

We will advise you via the SMB Portal as soon as the government provides details on the application of these measures.

Read about the budget.

Northwest Territories (February 8)

The Finance Minister tabled a budget that will have no impact on payroll production.

Read about the budget.

New Brunswick (January 30)

The Finance Minister tabled a budget that will have no impact on payroll production.

Read about the budget.