Business – Cost of Business – Labour Costs
Historically, the Saskatoon Region has had lower wage rates than surrounding jurisdictions. This cost advantage has made the region an attractive place for companies to locate and expand. KPMG ranks Saskatoon as the lowest labour cost region in western North America.
Labour Costs Comparison
Business Cost Comparison
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Employer Paid Benefits
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Canadian Pension Plan
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4.95% (maximum $2,049.30)
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Worker’s Compensation
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1.69%
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Employment Insurance
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2.42% 2.422% (maximum $995.44)
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Paid Vacation
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3/52 Wage (4/52 after 10 years)
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Statutory Holidays
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Saskatchewan employees are entitled to nine paid general holidays
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Health Care Premiums
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$0
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Payroll Taxes
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$0
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Minimum Wage
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$8.60
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Vacation
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Fifteen days after one year; Twenty days after ten years.
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- Determined by federal law. The maximum employer and employee contribution to the plan for 2008 will be $2,049.30, and the maximum self-employed contribution will be $4,098.60. This is based on the maximum pensionable earnings of $44,900 minus a basic deduction of $3,500 times 4.95%.
- Maximum contribution of $995.44 is achieved at an annual salary of $41,100.
- Worker’s Compensation depends on the industry and experience rate (i.e. In a business office it could be $0.24 – 1.02 per $100 of payroll.). The number given is the Saskatchewan Average.
