Payroll News

Prince Edward Island Raises Workers’ Comp Taxable Limit for 2020

Oct. 2, 2019, 8:25 PM

Prince Edward Island is to increase its maximum insurable earnings amount for workers’ compensation premiums to C$55,300 (U.S. $41,521.50) for 2020, up from C$55,000 (U.S. $41,296.25) for 2019, the Canadian province’s workers’ compensation board said Oct. 2.

Workers’ compensation premium rates applicable to work performed in the province are subject to adjustment in January and vary among employers, the Workers Compensation Board of Prince Edward Island said in a news release.

Each Canadian province and territory has an amount of maximum insurable earnings, also known as maximum assessable earnings, maximum annual earnings, and maximum wage rates, for assessment of...

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