Earlier today, the Supreme Court of Canada granted leave to appeal in Sun Indalex Finance, LLC v. United Steelworkers (“Indalex“). The appeal relates to a decision rendered by the Ontario Court of Appeal in April 2011 in which that Court granted “super priority” to pension funding deficits in a Companies’ Creditors Arrangement Act proceeding. A…
Industry: Professional & Technical Services
Bill C-13 at First Reading in the Senate
On November 22, 2011, First Reading of Bill C-13, Keeping Canada’s Economy and Jobs Growing Act, commenced in the Senate. As previously reported, the Bill was introduced on October 4, 2011.
Ontario Legislative Assembly Convenes to Elect Speaker
On November 21, 2011, the Ontario Legislative Assembly convened for the Election of the Speaker. The Speech from the Throne will be given on Tuesday November 22, 2011.
Alcohol and the Holiday Office Party
It is that time of year again when thoughts are turning to seasonal and holiday celebrations. Whether these celebrations are large or small, it is important that employers take proactive steps to ensure the health and safety of their employees who attend office parties or other celebrations. Over the years, a number of court decisions…
Are You Prepared for the AODA?
As the new year approaches, some key compliance deadlines under the Accessibility for Ontarians with Disabilities Act, 2005 (“AODA“) are also approaching. In this FTR Now, we review what needs to be done by employers by January 1, 2012. ACCESSIBILITY STANDARDS FOR CUSTOMER SERVICE By January 1, 2012, private and not-for-profit organizations should be in…
Federal Pooled Registered Pension Plan (“PRPP”) Legislation Introduced
On November 17, 2011, the Minister of State (Finance) and the Minister of Industry announced the introduction of Bill C-25, An Act relating to pooled registered pension plans and making related amendments to other Acts, new legislation implementing the framework for the federal component of the PRPP. The government will shortly release draft tax rules…
2012 EI Premium Rate Parameters Set, Work-Share Program Enhancement Extended
On November 8, 2011, the federal government announced a reduction in the maximum potential increase in Employment Insurance (“EI”) premium rates for 2012 from 10 cents, to 5 cents. Under these new parameters, the 2012 premium rate will not exceed $1.83 per $100 of insurable earnings. In addition, the government announced a temporary extension of…
Standing Committee Reports on the Federal Budget Bill (C-13)
On November 4, 2011, the Standing Committee on Finance presented its Report to the House on the federal government’s omnibus Budget implementation Bill C-13, Keeping Canada’s Economy and Jobs Growing Act. As previously reported, the Bill was introduced on October 4, 2011.
2012 Pension and Retirement Savings Limits Announced
The Canada Revenue Agency (“CRA”) has released the 2012 limits for pension plan and retirement savings plans: The 2012 annual pension for the year in which a pension commences to be paid under a Defined Benefit pension plan will be limited to $2,646.67 per year of service. The 2012 Money Purchase (Defined Contribution) limit will…
New Legislative Tax Proposals for Benefits, Tuition Awards and Shareholders
On October 31, 2011, the federal government proposed a number of legislative reforms to sections in the Income Tax Act (“ITA”), that if adopted, would in part amend the rules dealing with the valuation and deeming of benefits in respect of employment, benefits conferred on shareholders and rules respecting prohibited investments made by multi-employer pension…