Human Resources Legislative Update
Federal Government Announces Budget Bill No. 2
Date: October 22, 2013
On October 22, 2013, the federal government announced the introduction of the Economic Action Plan 2013 Act, No. 2. The Bill would, if passed, implement key measures from Economic Action Plan 2013 (the Budget), as well as certain previously announced tax measures. Among other things, the Bill would:
- freeze Employment Insurance premium rates for three years;
- improve the efficiency of the Temporary Foreign Worker Program by expanding electronic service delivery;
- phase out the Labour-Sponsored Venture Capital Corporations tax credit; and
- extend and expand the Hiring Credit for Small Business.
The Bill has not yet been posted on the Parliamentary website.
For more detailed analysis of the Budget 2013 initiatives see our FTR Now, “Federal Budget 2013”.