Canada is a highly developed country with a high ranking in the human development index among the world countries. It has a mixed-market economy and is the 8th largest economy as of 2022.
Toronto, Ottawa, British Columbia, Brampton
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The top local universities in Canada are as follows:
Some of the top jobs in Canada and their annual salary are listed below:
|Job Title||Average Monthly Salary (CAD)||Average Monthly Salary (USD)|
|Financial Manager||20,100 CAD||14743.35 USD|
|General Manager||18,300 CAD||13423.05 USD|
|Business Development Manager||15,900 CAD||11662.65 USD|
|Financial Analyst||13,300 CAD||9755.55 USD|
|Business Analyst||12,800 CAD||9388.80 USD|
|Project Manager||11,700 CAD||8581.95 USD|
Payroll frequency followed in the top Canadian provinces:
The minimum wage in Canada varies with provinces. Below is a list of the top provinces in Canada along with their minimum wage. Please note, these are for general workers, and there shall be exceptions in the data depending on the age of the employee ( for those under 17) and the industry related.
The standard working hours in Canada are 40 hours in a week. If an employee works overtime, they must be compensated at 1.5 times their hourly rate.
No statutory mention of 13th-month pay in Canada.
|Payroll Category||Tax Contribution %|
|Canada Pension Plan (except for Quebec)*||5.95%|
|Quebec Pension Plan** (Retirement Pension)||6.4%|
|Employment Insurance (except for Quebec)||2.21%|
|Quebec Employment Insurance||1.63%|
|Payroll Category||Tax Contribution %|
|Canada Pension Plan* (except for Quebec)||5.95%|
|Quebec Pension Plan* (Retirement Pension)||6.4%|
|Employment Insurance (except for Quebec)||1.58%|
|Quebec Employment Insurance||1.27%|
**Quebec Pension Plan (QPP): This plan provides the employee from Quebec with three different benefits:
To know more about the contributions, check here.
Federal Income tax on employees (except for Quebec):
|Annual Taxable Income||Tax on the first Amount||Tax rate on excess|
|0 to 50,197 CAD||0||15%|
|50,197 to 100,392 CAD||7,530 CAD||20.5%|
|100,392 to 155,625 CAD||17,820 CAD||26%|
|155,625 to 221,708 CAD||32,180 CAD||29%|
|221,708 CAD and Above||51,344 CAD||33%|
Quebec Personal Income Tax:
|Annual Taxable Income||Tax rate on excess|
|0 to 46,295 CAD||15%|
|46,296 to 92,580 CAD||20%|
|92,581 to 112,655 CAD||24%|
|Above 112,655 CAD||25.75%|
Federal Income Tax In Canada:
In addition to federal income tax, an individual who resides in, or has earned income in any province or territory is subject to provincial or territorial income tax.
Note: The tax will be calculated based on the slabs the income falls under. Once tax is calculated from the first slab, the remaining income (if any) is to be calculated from the second slab of taxation, and so on(Except Quebec).
|Province / territory||Taxable income with corresponding Rates|
|Prince Edward Island||
The standard GST rate in Canada is 5% while PST (provincial sales tax) rate varies in different provinces.
The Canada Labor Code explains the procedure to follow while terminating the employment of an individual employee or a group termination involving 50 or more employees from a single industrial establishment who are dismissed simultaneously within four weeks. If an employee believes the dismissal as unjust, they can file a complaint alleging unjust dismissal within 90 days, from the dismissal date.
The notice period for employees on probation and permanent employees is between one to twelve weeks.
Employees have the right to collect severance pay if they complete continuous employment of at least 12 consecutive months before their layoff or dismissal. They are entitled to two days of regular wages for each full year they worked for the employer before their termination from employment. The minimum benefit is five days’ wages.
Both Canadian citizens and permanent residents have a right to work in Canada. In case of non-Canadian nationals, a valid work permit will usually be required.
|Provinces & Territories||Minimum Wage|
|Alberta||CA$15.00 per hour|
|British Columbia||CA$15.65 per hour|
|Manitoba||CA$13.50 per hour|
|New Brunswick||CA$13.75 per hour|
|Newfoundland and Labrador||CA$13.70 per hour|
|Northwest Territories||CA$15.20 per hour|
|Nova Scotia||CA$13.60 per hour|
|Nunavut||CA$16.00 per hour|
|Ontario||CA$15.50 per hour|
|Prince Edward Island||CA$13.70 per hour|
|Quebec||CA$14.25 per hour|
|Saskatchewan||CA$13.00 per hour|
|Yukon||CA$15.70 per hour|