Income

 Effective July 1, 2022, two significant changes to the Special Guarantee Contribution (SGC) will take effect. This will affect your business, namely: SG rate increased from 10 Present to 10.5 Present and The minimum income of $450 (or $350 for some prizes) per month will also be removed when you pay with SGC. Hence, employees are indirectly rewarded for improved performance. Employers should consider this factor when budgeting for the upcoming fiscal year. Employees under the age of 18 are also eligible for premium pay if they work more than 30 hours per week. For more information, please visit the…