Third quarter prescribed interest rates set • Reminder: Labour Day a stat holiday across Canada • Alberta minimum wage increasing • Manitoba minimum wage increasing
CANADA
Third quarter prescribed interest rates set
The prescribed rate for taxable benefits to employees and shareholders from interest-free and low-interest loans is one per cent from July 1 to September 30. The rate is unchanged from the previous quarter.
The interest rate for unpaid source deductions, overdue taxes and insufficient installments is five per cent for the third quarter.
Reminder: Labour Day a stat holiday across Canada
Sept. 2 is a statutory holiday under employment/labour standards laws in all Canadian jurisdictions.
ALBERTA
Alberta minimum wage increasing
Effective Sept. 1, the general minimum wage rate in the province rises from $9.75 per hour to $9.95.
The minimum wage rate for employees who serve liquor as part of their regular job will remain at $9.05 per hour. When the government implemented the minimum wage for liquor servers last year, it announced the rate would stay at $9.05 until the general minimum wage reaches $10.05 an hour. When this occurs, both minimum wage rates will increase, but the general rate will be $1 higher.
Also effective Sept. 1, 2013, the following minimum wage rates change:
• the minimum wage for many salespersons increases from $389 per week to $397
• the minimum wage for domestic employees who live in the employer's residence rises from $1,854 per month to $1,893.
MANITOBA
Manitoba minimum wage increasing
Effective Oct. 1, 2013, the minimum wage rate in the province will rise from $10.25 per hour to $10.45 per hour.
