Human Resources Legislative Update

Federal Budget 2013 Highlights

Human Resources Legislative Update

Federal Budget 2013 Highlights

Date: March 22, 2013

On March 21, 2013, the federal government tabled its Budget 2013, Jobs Growth and Long Term Prosperity – Economic Action Plan 2013.

Some of the highlights of interest to employers and pension plan administrators include:

  • simplified GST/HST pension plan rules for employers;
  • amendments to the Income Tax Act to permit the correction of reasonable pension plan contribution errors;
  • an update on the status of Pooled Registered Pension Plans;
  • an announcement that a consultation and changes are forthcoming to provide options for troubled pension plans;
  • GST/HST changes affecting certain health-related services;
  • an extension of the temporary hiring credit for small businesses;
  • creation of the Canada Job Grant program;
  • proposed measures to encourage the use of apprentices; and
  • the reform of the Temporary Foreign Worker Program.

For more detailed analysis of the Budget 2013 initiatives see our FTR Now “Federal Budget 2013“.