Benefits and Pension Monitor News: The Quebec government has delayed, by five years, the decrease in the compensation tax on insurance premiums, thereby depriving plan sponsors of an expected reduction of 0.18 per cent in this tax.
Changes to Saskatchewan’s provincial sales tax (PST) were announced in the recent 2017 budget.
The 2017 Federal Budget was released on March 22, 2017.
The Quebec government’s budget tabled on March 28, 2017 delayed, by five years, the decrease in the compensation tax on insurance premiums, thereby depriving plan sponsors of an expected reduction of 0.18% in this tax.
The government-appointed Advisory Council on Economic Growth has recommended that the age of eligibility for OAS, CPP and GIS be increased to “meet the reality of an ageing society and a considerably longer life expectancy”.
In recent months, there has been speculation that the federal government might be considering a major change in tax rules in the next federal budget that would make employer contributions to extended health and dental plans taxable to employees...
On December 22, 2016, CAPSA, consisting of Canada’s pension regulators, published revised Guideline No. 4: Pension Plan Governance Guideline, along with the related Self-Assessment Questionnaire and FAQ Document, in final form following industry...
On December 19, 2016, Manitoba amended its regulations to permit Manitoba-registered pension plans with a defined benefit (DB) component to extend the regular solvency amortization period from 5 to 10 years.
The Insurance & Investment Journal: Quebec is considering changes to its provincial pension plan. Depending on which proposals are implemented, they could make pension administration difficult for national employers.
Changes to premium taxes were announced by the Prince Edward Island government in October 2016.