Canadian Payroll Reporter

November 2017

Focuses on issues of importance to payroll professionals across Canada. It contains news, case studies, profiles and tracks payroll-related legislation to help employers comply with all the rules and regulations governing their organizations.

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Payroll Reporter Can R Can R adian adian a November 2017 Is cryptocurrency in payroll's future? Technological advancements could see option go mainstream BY SHEILA BRAWN WOULD YOU like your pay in dollars or in a crypto- currency like bitcoin? While most employers today are not asking their employees that question, it could be commonplace one day. As the world increasingly moves online, some think cryptocurrencies could eventually be- come a mainstream way to pay employees. At Shakepay, that is already happening. The Mon- treal-based company, which offers a Visa debit card enabling cardholders to load and spend bitcoin, gives its employees the option to receive a percentage of their salary in the cryptocurrency of their choice. "Whenever we do payroll, if someone wants to receive some crypto, they can," said Shakepay co- founder Jean Amiouny. "It could be bitcoin, ethere- um, dash or any of the other cryptocurrencies." Cryptocurrencies are essentially digital or vir- tual currencies. They exist online and not in coin or see ROUNDUP page 7 PM #40065782 Legislative Roundup Changes in payroll laws and regulations from across Canada see BUMP page 6 Credit: GeniusKp/Shutterstock EI premiums rising in 2018 Ahead of rate change, business groups are calling for breaks for employers BY SHEILA BRAWN WITH EMPLOYMENT insurance (EI) premium rates rising next year, some business groups are again calling on the federal government to implement measures to reduce employers' EI costs. In September, the Canada Employment Insurance Commission (CEIC) announced that employee EI premium rates would ri se from $1.63 per $100 of insurable earnings to $1.66 in 2018 for workers outside of Quebec. For employees in Quebec, the rate will go up from $1.27 to $1.30. (The rates for Quebec are lower because Que- bec administers its own parental insurance plan, financed by work- ers and employers in the province.) British Columbia Province names trio to Fair Wages Commission British Columbia has launched a three-member commission to di- rect the province on how to raise the minimum wage to $15. Labour Minister Harry Bains officially announced the Fair Wages Commis- sion on Oct. 5. The commission, which will function at an arm's length to gov- ernment, is tasked with putting forward a plan to raise the minimum wage to $15 an hour and making recommendations to address the discrepancy between the minimum wage and living wages. Mem- bers will also be considering and making recommendations around other wage rates under the Employment Standards Regulation. see BITCOIN page 2 News in Brief pg. 4 EI premium reduction program rates announced | Many Canadians not saving enough: Survey | Feds offering hiring incentives for Phoenix Ask an Expert pg. 5 Saturday work may trigger overtime| Completing an ROE for commission employees Change ahead pg. 3 Ontario WSIB board to implement new rate-setting structure in 2020

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