In the upcoming months, a number of compliance changes will come into effect across the country. The following aspects of your business may be affected:
- Saskatchewan’s new PST on insurance
For periods of coverage after August 1, 2017, Saskatchewan Provincial Sales Tax (PST) of six per cent will be applied to certain insurance contracts that cover Saskatchewan residents, including life insurance; accident, sickness and disability insurance; group insurance contracts; and self-insurance and Administrative Services Only (ASO) arrangements
- British Columbia’s minimum wage increase
Effective September 17, 2017, British Columbia’s minimum wage will increase from $10.75 to $11.25. For more information on minimum wage changes, please access their Provincial website.
- Canada Savings Bonds / Canada Premium Bonds to be discontinued
As of November 2017, the Government of Canada is discontinuing the sale of Canada Savings Bonds (CSBs) and Canada Premium Bonds (CPBs). The last contribution file will be accepted on October 31, 2017.
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
