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In the ever-evolving legal landscape, 2024 brings forth pivotal changes set to impact the realms of construction, property, and labour. As we step into this transformative year, it’s crucial to stay abreast of the latest developments that may shape the future of your business in Toronto and across Ontario. Here’s your comprehensive guide to the game-changing updates:
Land Transfer Tax Overhaul
The Toronto City Council, recognizing the dynamic real estate scene, approved a revamped Municipal Land Transfer Tax in 2023. Effective January 1, 2024, this update introduces additional thresholds for high-value residential properties containing at least one, and not more than two, single-family residences.
Temp Agencies Licensing
The employment landscape is undergoing a paradigm shift as of January 1, 2024. Temporary work agencies are now mandated to obtain a license under the amended Employment Standards Act, reshaping the dynamics of the temporary work sector. Additionally, clients are prohibited from using the services of unlicensed agencies.
Crane Safety Revolution
Safety takes center stage against the iconic Toronto skyline. Updated provincial inspection policies for cranes are experiencing a comprehensive overhaul. Starting January 1, 2024, crane owners are now required to implement rigorous testing, logbooks, and inspections under the supervision of a professional engineer. The change has been put in place to prevent further crane accidents within the city.
Anti-Forced Labour Legislation
The enforcement of the Forced and Child Labour in Supply Chains Act heralds a new regulatory era. Effective as of 2024, covered companies must release board-approved reports detailing anti-child labour efforts in their supply chains, with penalties for non-compliance or misleading statements.
Dive deeper into these transformative changes and explore how they might impact your business by reaching out to us. At Corestone Law, we don’t just view ourselves as legal advisors; we see our role as an integral part of your team, contributing to your success story. As you navigate the evolving legal landscape in 2024 and beyond, consider us your trusted companion, always ready to provide transparent and pragmatic advice.
Need personalized guidance? Book a consultation at https://www.corestone.ca/book-an-appointment/. Let’s navigate these legal changes together.
