Starting July 1, 2017 you may have noticed some changes with your payroll if you’re in the province of Saskatchewan or Prince Edward Island (PEI).
Here are some of the changes for you to look for:
Prince Edward Island – On April 7, 2017 the PEI budget announced that as of January 1, 2017 personal tax exemptions will increase from $8,000.00 to $8,160. For the first six months of the year a basic exemption of $8,000.00 was applied, so a pro-rated exemption of $8,320 will be apply for the remainder of 2017 commencing on the first payroll in July. Starting January 1, 2018 the basic provincial exemption for the province of PEI will be $8,160.
Saskatchewan – On March 22, 2017 the province of Saskatchewan announced that effective July 1, 2017 the personal tax rates of 11%, 13% and 15% will be changed to 10.5%, 12.5% and 14.5% respectively.
For more information check out the Canada Revenue Agency (CRA) website:
Jennifer Miller / Payroll Administrator / PEO Canada