The taxpayers’ federation also says clean fuel regulations set to take effect on Jare expected to increase the price of gas. The Canadian Taxpayers’ Federation says that will increase the current 11.05 cents per litre carbon price to 14.31 cents per litre of gas.Īt that higher rate, the federation says the carbon price will "cost a family about $10.88 every time they fuel up their minivan" - about $2.48 more than at the current rate - based on a 76-litre fuel capacity. The federal government’s carbon pricing is set to increase from $50 per tonne to $65 per tonne on April 1, 2023. Parliament approved the ban last summer in an effort to address housing shortages and affordability issues, but many people will be exempt from the new rule, including those with temporary work permits, refugee claimants and international students who meet certain criteria. 1, 2023, foreign commercial enterprises and people will be prohibited from buying residential properties in Canada for two years. The Canadian Federation of Independent Businesses says the CPP and EI contribution increases mean that every Canadian worker will see up to $305 less in annual take-home income next year.Īs of Jan. In a separate notice, the federal government said that changes to employment insurance rates will result in workers paying a maximum annual EI premium of $1,002.45 in 2023, compared to $952.74 in 2022.
That means the maximum employee contribution to the CPP plan for 2023 will be $3,754.45, up from $3,499.80 in 2022. The employee and employer CPP contribution rates will increase to 5.95 per cent in 2023 from 5.70 per cent in 2022, the Canada Revenue Agency announced in November. Here are some of the new laws and rules you need to know about:Ĭanada Pension Plan (CPP) contributions and employment insurance (EI) premiums are increasing in 2023, meaning less take-home pay for Canadian workers. Here's a look at what's going to cost you more, and less, in 2023.From minimum wage increases in some provinces, to Canada’s ban on foreign property buyers, the new year will usher in a number of new regulations and laws.Ĭhanges coming into effect in 2023 also include higher payroll deductions for Canadian workers, the introduction of federal carbon pricing in three Atlantic provinces, and new medication-prescribing powers for Ontario pharmacists.
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