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Changes in the new year: Taxes, Laws, Wagesin Canadian Government News and Updates
- Starting 2018, the small business tax rate dropped from 10.5% to 10%.
- EI premiums have slightly increased by about $6 in new costs for the average worker and $13 per employee for the average employer.
- 2018 marks the return of the sponsorship program after closing down due to backlogs.
- Ontario's minimum hourly wage increase took effect last January 1, 2018 from $11.60 to $14.
- Alberta's minimum hourly wage will increase to $15 on October 1, 2018.
- In Alberta, the carbon tax have risen to $30 a tonne from $20 starting this year.
- Quebec dropped its lowest income tax bracket from 16% rate to 15%.
Source: New year rings in changes to laws, taxes, wages