Changes Introduced With Cancellation Of A Minimum Salary Bill

>

Changes Introduced with Cancellation of a Minimum Salary Bill

Are you studying in Ontario? Or living nearby? If your answer is yes to any of this question, then you may have heard about the bill 148. The bill holds the importance for office going people along with the students who are building their career in economics. Also known as Fair Workplaces, Better Jobs Act, 2017, the Bill 148 catch the headline for $14 minimum wage but is it the only thing about the bill that students must know? Actually, apart from the wages hike, there are so much that catches the eye of the economists. Now, students who are writing an impressive assignment on the subject may need to hire economics assignment help to further elaborate those changes in their assignment.

Changes that took place after Bill 148

The minimum wage increase

It is like stating the obvious fact! The minimum wage in Ontario has reached $14/ hour which is 20% more than the previous wage ($11.60). This is both boon and bane for the economy depending on who you ask. Though, it is essential to note down that there is a group of 53 reputed Canadian economists who stood up in support and signed a public letter, stating the fact that the rise in the income will surely offset job loss in the economy. The economists are also expecting to see a better change in the wages in 2019.

The tax rate cut for the small businesses

With the bill148, the provincial tax rate has been reduced for the small businesses. The companies are expected to witness the downfall in the taxes from 4.5% to 3.5%. What is the purpose to introduce this change? The main objective to make this change is to support the small businesses so, they won’t have to face the consequences of the minimum wage increase.

The paid vacation or holiday pay

Who doesn’t want to get paid to enjoy the holidays? But as we know not all of the employees get the holiday pay let alone paid vacation but Bill 148 has also taken this into the consideration. According to the change, employees who are serving their employers for more than 5 years are now entitled to 3 weeks of paid holidays in a year. Plus, employees who are serving for less than 5 years still the minimum 2 weeks of holidays. So, win-win situations for employees with the twist.

Instead of the traditional method of calculation, the new formula will be used to calculate the total holiday pay. Students can hire economics essay writing help to elaborate on the concept of introducing the new holiday calculator. 

The notice period for temporary workers

An organisation always hires temporary workers on a time-to-time basis to fulfil the labour requirement of the development projects. If a project will take more than 3 months to complete, then the temporary worker you have hired should be given the notice 1-week advance notice if it is supposed to end early. In case, if the company fail to give the notice, then it liable to pay the lieu of notice.  

Apart from these, there are several more changes that have been introduced with Bill 148. So, there is a fair chance that those who are writing the academic assignment on the subject may require homework help from expert writers at BookMyEssay. Explore the website to learn more!

Share:

Keywords: assignment help

Comments

Other related blogs

A Beginner's Explanation to Corporate Law and Commercial Law

By : Datalaw Ltd

Numerous Legal Secretaries and individuals working beyond law find it useful to get an understanding..


A Beginner's Explanation to Corporate Law and Commercial Law

By : Datalaw Ltd

Numerous Legal Secretaries and individuals working beyond law find it useful to get an understanding..


How to Choose a Web Design Agency

By : Wirralwebdesign

Every company is putting the very best foot ahead to prosper in today's highly affordable globe, whe..


How to Choose a Web Design Agency

By : Wirralwebdesign

Every company is putting the very best foot ahead to prosper in today's highly affordable globe, whe..