On February 29, 2024, Jill Burridge, Minister of Finance, tabled the province’s 2024 budget that includes the following upcoming payroll tax changes:
Basic Personal Amount
Starting in January 2025, the basic personal amount will increase from $13,500 to $14,250, adjusting the thresholds for each tax bracket, and reducing the tax rates for the initial four brackets.
The National Payroll Institute will monitor the progress and implementation of these changes and will keep its members informed.