Canadian Immigration News

Breaking Down Canada's Latest Laws for the Year 2024

3 minute read
The year 2024 is bringing in some new rules and changes to Canada. From making dental care more accessible, updating the living cost requirement for international students, to improving pay equity, we're in for some big shifts in the months ahead. This article will talk about the important changes in rules and regulations happening this year.
Written by My Visa Source Team
Published on:  Jan 5, 2024
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Revamped Dental Care Plan

Dental care costs have long posed a barrier for many Canadians. Ottawa is taking strides to address this by introducing a phased rollout of the largest federal dental care plan. Commencing in May 2024, this plan will offer affordable dental services, including cleaning, x-rays, root canals, and more. Particularly beneficial for senior citizens lacking health insurance, this initiative aims to make dental care accessible to a broader demographic.

Enhanced Canada Pension Plan 

For today's workers and tomorrow's seniors, the Canada Pension Plan (CPP) is undergoing enhancements. The federal government plans to increase CPP contributions from both employees and employers, expanding pensionable earnings coverage. This move is anticipated to result in a positive impact on both employer and worker earnings.

Boosting Carbon Rebates

Come April 2024, the pollution price rebate's rural top-up rate is set to increase from 10 to 20 percent. This adjustment recognizes the unique challenges faced by rural residents, including high energy expenses, increased energy needs, and limited access to clean transportation. The change is a step toward addressing these challenges and fostering sustainability.

Cost-of-living Requirements for International Students

International students aspiring to study in Canada will see an increase in the cost-of-living requirements. Now pegged at $20,000, up from $10,000, students must demonstrate this amount in savings, in addition to covering tuition fees and travel expenses, ensuring a more realistic reflection of the living costs in Canada.

Pay Equity Regulations

In a push towards gender pay equity, federally regulated employers with over 10 employees are mandated to publish their pay equity plans by fall 2024 under the Pay Equity Act. Larger employers (100+ employees) or those with unions are required to establish a pay equity committee. The identified pay gaps must be addressed by adjusting compensation to ensure equal pay for work of equal value.

Conclusion

As Canada embraces these transformative changes, 2024 is poised to be a year of inclusivity, sustainability, and financial empowerment. From affordable dental care to bolstered pension plans and international student support, these regulations reflect a commitment to a better and more equitable future for all Canadians.

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