All Canadian citizens need to keep a close eye on law changes throughout the country. For business owners, it is particularly critical to keep abreast of any changes to Ontario business law. The new year has brought several legislative changes that will affect employers and workers across the province and country.
On a national level, small businesses will be facing tax changes starting in January 2018. Among the changes is the tightening of rules allowing small business owners to engage in “income sprinkling,” the practise of redistributing some income to lower-earning family members. Additionally, new federal legislation has begun that affects parents and caregivers planning to begin parental or compassionate leave on or after December 3, 2017. This includes the ability to spread 12 months of benefits over 18 months for parents as well as a 15-week leave to care for critically ill or injured adults.
Ontario business owners will also see province-wide changes come into effect in 2018. One of these changes is the increase of minimum wage from $11.60 per hour to $14 per hour. Employees will also have a right to three weeks of paid vacation after working for a company for five years. Parents whose children die will have access to up to 104 weeks of unpaid leave, while employees of small companies will have access to personal emergency leave.
Businesses in Ontario will be affected in different ways by this legislation. There may also be disputes that emerge as companies work to implement these changes. Those who need legal support for a business law issue should contact a lawyer as soon as possible.
Source: CTV News, “Canada’s new laws and rules in 2018: Everything you need to know“, Sonja Puzic, Dec. 18, 2017