Saskatchewan minimum wage now $10.20
Effective October 1, Saskatchewan’s minimum wage will increase to $10.20 from $10 per hour.
Since 2007, Saskatchewan’s minimum wage has increased by 28.3 per cent, with six increases from $7.95 to $10.20 over the past seven years.
“Saskatchewan’s economy has been growing and it is important that the minimum wage increases as well,” Labour Relations and Workplace Safety Minister Don Morgan said. “By increasing the minimum wage, youth, students and other minimum wage earners will have more disposable income and improve their standards of living.”
This spring, the Government of Saskatchewan passed regulations to index the minimum wage following Cabinet consideration. The indexation formula will be calculated using changes in the Consumer Price Index and the Average Hourly Wage in Saskatchewan for the previous year.
Changes to the minimum wage must be announced on or before June 30 of each year and will take effect October 1 of the same year to give business owners the ability to plan for the change.
Along with the increase to minimum wage, the Government of Saskatchewan has also significantly reduced the tax burden on minimum wage earners by increasing the basic personal, spousal and child benefit and creating the Saskatchewan Low Income Tax Credit. Individual taxpayers now pay no Saskatchewan income tax on their first $18,650 of income.
Saskatchewan also has the highest tax-free income threshold in Canada for a family of four who pay no Saskatchewan income tax on their first $48,320 of income.
For more information on minimum wage, please visit http://ift.tt/1oA6Hmn.
via SW Sask News – Prairie Post – Prairie Post http://ift.tt/1rI5Apr