The war for talent is over and the talents have won. Under these circumstances, how can you offer distinctive total rewards and beat the labour shortage? Take action by avoiding frequent pitfalls.

The 2022 federal budget contains several measures that could directly or indirectly affect total rewards programs. In light of the available information, our specialists have identified the most relevant elements to monitor.

OFFICE SUPPLIES AND COMPUTER EQUIPMENT

For the 2021 tax year (just like the 2020 tax year), the Canada Revenue Agency (CRA) and Revenu Québec have indicated that if an employer provides an allowance or a refund for the purchase of office supplies and computer equipment, this amount will not be considered to be part of the employee’s taxable income, up to a maximum of $500 combined for 2020 and 2021 per employee, if the equipment is used for telework.

On February 8, 2022, the Financial Services Regulatory Authority of Ontario (“FSRA”) published its last 2021 Quarterly Update on Estimated Solvency Funded Status of Defined Benefit Pension Plans in Ontario, which outlines up-to-date information on the estimated solvency ratios of defined benefit pension plans in Ontario as at December 31, 2021.

Similar to 2020, 2021 will have been notable for the COVID-19 pandemic. Despite this, the prescription drug insurance industry has been constantly changing. Here is the 7th edition of our top prescription drug developments.