New Satutory Holiday and Government Wage Update
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A new statutory holiday will have a significant impact on payroll
On June 3, 2021, the federal government has adopted a bill to create a statutory holiday called the National Day for Truth and Reconciliation, which seeks to honour First Nations, Inuit, and Métis Survivors.This new holiday will be observed yearly on September 30th and will apply to employers who are under the Canada Labour Code, that is, businesses under federal jurisdiction. Therefore, only employees of federally regulated employers will be entitled to a day off with pay.
It is important to note that on this new holiday, like Remembrance Day (November 11th), banking institutions will be closed which will significantly impact many employers. Consequently, there will be no deposit of wages or banking transactions on September 30th.
Minimum wage increase in Ontario as of January 1, 2022
We wish to inform you of the minimum wage increase that went into effect on Saturday, January 1, 2022, in Ontario. The minimum wage increase has gone from $14.35 to $15.00 per hour. Refer to Ontario's government website in order to verify if any other change of rate is applicable to your business.
