The Department of Finance released draft legislative proposals in July and August of 2010 to implement a variety of tax measures, including those first outlined in its 2010 Budget along with several previously announced tax initiatives, for public consultation. The proposals outline significant changes to the tax rules applicable to employee stock options that will:…
Tag: Legislative Initiative
Ontario to Introduce Phase II Pension Reforms
On August 24, 2010, the Ontario government announced that further pension reforms to be tabled this fall will address almost 40 recommendations made by the Expert Commission on Pensions. The announcement indicates that this “broad package of pension reforms” will include: modifications to the funding requirements for multi-employer pension plans and jointly sponsored pension plans,…
Ontario Launches Safety Campaign for Construction Sites
On July 28, 2010, the Ontario government announced the launch of an eight-week campaign, together with its health and safety partners, which targets construction sites across the province. The focus of the campaign is to impress upon workers and employers the importance of putting safety first, through proper training and awareness of workplace dangers. Also…
Ontario Releases Independent Review of AODA
On May 31, 2010, the government released Charles Beer’s independent review of the Accessibility for Ontarians with Disabilities Act, 2005. The government also announced that it is in the process of combining the information and communications, employment and transportation standards into a single, integrated regulation. This initiative is intended to make them “more flexible” for…
Department of Finance Proposes Changes to HST Calculation Rules Affecting Investment Funds
On May 19, 2010, the Department of Finance released proposed changes to the Harmonized Sales Tax (“HST”) rules covering the supply of financial services relating to the calculation of the provincial component of the HST under the Excise Tax Act. As outlined in the government Backgrounder, the proposed changes would affect, among others, mutual funds,…
MOL Enforcement Blitz Targets Construction Sites
On May 13, the Ontario government announced plans to increase enforcement of violations and enhance awareness of safety measures to protect workers on construction sites. The initiative follows a 90-day provincial enforcement campaign to ensure that workplace parties are complying with the Occupational Health and Safety Act (“OHSA”) and its regulations. An expert panel will make…
New Federal Pension Regulation Amendments Proposed
On May, 8, 2010, the Federal government published proposed amendments to the Pension Benefits Standards Regulations, 1985. The proposed amendments would: amend the funding rules to adopt a new standard for establishing minimum funding requirements on a solvency basis using average (rather than current) solvency ratios to determine minimum funding requirements; introduce a solvency margin…