Canada has confirmed that they will be introducing new laws effective January 1, 2016.
These laws and policies will be implemented on Federal and Provincial levels so take note if you are currently in the country or are planning to work there.
- Tax-Savings Account (TFA)
Beginning 2016, the annual Tax-Free Savings Account will be significantly lowered from $10,000 to $5,500.
- Canada Student Loan Program
Also, education will be one of the focuses for the new policies since the Canada Student Loan Program will continue supporting working students earning more than $100 per week.
- Middle-Class Income Tax
Middle-class income tax will likewise decrease come the New Year since it will drop from 22% down to 20.5% for taxable earnings amounting $45,282 to $90,563.
In Alberta, drivers who will be caught using their mobile phones will be penalized with $287. On top of that, the offending driver will also get a 3 demerit points.
- British Colombia
Meanwhile, healthcare premium is expected to increase by 4% this 2016 in British Colombia. This is in line with the approved budget for the province.
Manitoba, on the other hand will be implementing a Post-Traumatic Stress Disorder (PSTD) Legislation. This is the first of its kind in Canada. Workers who will be diagnosed with PSTD will be allowed to take advantage of the Workers Compensation Board coverage.
- New Brunswick
Beginning January 1, the province of New Brunswick will ban flavored tobacco products which includes menthol and other flavors. By the same date, e-cigarettes and e-juices will be prohibited for sale for those 18 years old and below.
In the past, Ontario required a nuclear plant charge of $5.60 per month for hydro customer’s bills. That will be removed for residential users come 2016, although businesses will still be required to pay it.
Insurance companies, on the other hand, will be required to offer discounted rates for drivers with winter tires.
Speaking of driving, drivers will now have to wait for a pedestrian to reach the other end of a school crossing or pedestrian. Violators to this new rule will be fined $150 to $500.
Taxi drivers in Quebec will now have to follow a dress code, as proposed and approved by the city council. They will now have to wear white shirts with dark pants or shorts whenever they’re working.