Alberta Adopts Canadian Payroll Association Recommendations on Red Tape Reduction
Payroll Efficiencies Central to Proposed Employment Standards Bill will Save Employers Over $100 Million Annually
TORONTO, July 7, 2020 /CNW/ - The Canadian Payroll Association commends the Government of Alberta for changes proposed today in Bill 32, the Restoring Balance in Alberta's Workplaces Act, that will reduce red tape, support job creation, and eliminate unnecessary costs for businesses.
Representing payroll, the profession responsible for ensuring $34 billion in personal income tax and workers compensation premiums are accurately remitted to the Alberta government, the Canadian Payroll Association provided several recommendations to the government which were reflected in today's announcement.
One such recommendation will collectively save Albertan employers $100 million annually by allowing more time to provide terminated employees with their final pay. Currently, businesses have just three days to dispense these funds, significantly shorter than the time provided in other provinces. Businesses can now reduce reliance on manual expedited payroll processes, reducing errors — saving time and money.
"Advocating to improve the efficiency and effectiveness of payroll-related legislation and administration for employers, government, and Albertans is mission-critical for the Canadian Payroll Association," says Peter Tzanetakis, President of the Canadian Payroll Association. "I applaud Jason Copping, Minister of Labour and Immigration and Grant Hunter, Associate Minister of Red Tape Reduction for the common sense approach that the government has taken."
Payroll efficiencies introduced today also include:
- The ability for employers to deduct overpayments of wages;
- Simpler and more flexible rules for general holiday pay, hours of work averaging arrangements, and group terminations;
- Allowing for electronic pay statements; and
- The introduction of a new industry-specific regulatory framework that will enable better collaboration between employer groups and the government.
The Canadian Payroll Association looks forward to working with the government to help employers implement the payroll-related initiatives announced today. This is just the start. By collaborating with the Alberta government, the Payroll Profession can help businesses save money and realize efficiencies.
About the Canadian Payroll Association
Canada's 1.5 million employers rely on payroll to ensure the timely and accurate annual payment of $1.02 trillion in wages and taxable benefits, and $345 billion in statutory remittances, while complying with more than 200 federal and provincial regulatory requirements. As the authoritative source of Canadian payroll compliance knowledge, the Association promotes payroll compliance through advocacy and education. For more information, please visit payroll.ca.
SOURCE Canadian Payroll Association
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