Human Resources Legislative Update
Second Federal Omnibus Budget Bill Tabled
Date: October 22, 2012
On October 18, 2012, the federal government tabled Bill C-45, Jobs and Growth Act, 2012, the second omnibus budget bill giving effect to the initiatives found in its Budget 2012, Economic Action Plan 2012 – A Plan for Jobs, Growth and Long-term Prosperity.
If passed, Bill C-45 will, among other things:
- amend the rules applicable to Registered Disability Savings Plans, retirement compensation arrangements and Employees Profit Sharing Plans;
- include employer contributions made to certain types of group sickness or accident insurance plans in the income of employees;
- implement tax measures related to the introduction of the Pooled Registered Pension Plans;
- amend the Canada Labour Code with respect to: the calculation of holiday pay; aspects of the complaint process; the time limits for the period to which a payment order relates; and the process for requesting a review of a payment order or a notice of unfounded complaint, including an appeal process;
- amend the Employment Insurance Act to refund a portion of employer premiums for small businesses, as a temporary measure and where applicable; and
- amend the Public Service Superannuation Act regarding the maximum current service costs of the plan to be paid by contributors and the pensionable age with respect to persons who become contributors on or after January 1, 2013 (to be raised from 60 to 65).
On October 15, 2012, the federal government also tabled a Notice of Ways and Means Motion to implement certain tax measures contained in its Budget 2012.