The Ontario Liberal party under Premier Kathleen Wynne is locked in a desperate fight for its political life as the Grits seek re-election in June. Not surprisingly, the 2018 provincial budget showers goodies on virtually every constituency from parents with small children (proposed free childcare for children between the ages of two-and-a-half until they enter […]
If there’s one truism for entrepreneurs, it’s that no two years are ever the same. Whether they’re focused on growing their business or managing the myriad number of challenges that can make it difficult to achieve success—think everything from satisfying client expectations to managing costly HR issues—owners of small and medium-sized businesses have no shortage […]
Owners of small and medium-sized businesses across Canada can finally breathe a sigh of relief. For the most part, they’ve won this round in the ongoing fight with the federal government to halt contentious tax reforms for corporations. Indeed, the 2018 federal budget will be remembered for what it didn’t do, rather than introducing […]
The New Year rang in a minimum wage increase for Ontarians, as well as a double-double firestorm of controversy as many small and medium-sized businesses—particularly restaurant franchisees, who have borne the full brunt of the increase—took swift action to protect their bottom lines. With the passage in the fall of Bill 148, The Fair Workplaces, […]
Shortly after the release of the report by the Standing Senate Committee on National Finance, which is highly critical of the Department of Finance’s proposals on the taxation of private corporations, Finance Minister Bill Morneau released what he referred to as clarified rules around income sprinkling. Unfortunately, the release came with the same rhetoric used […]
A new package of labour and employment law reforms in Ontario is poised to potentially impact the competitiveness and the viability of small and medium-sized businesses across the province. Bill 148, The Fair Workplaces, Better Jobs Act, 2017, became law this week, and introduced a range of new amendments designed to modernize the province’s Employment […]
Small business owners in Ontario are getting a break on their taxes. This week Minister of Finance Charles Sousa delivered a fall economic statement that will lower the corporate small business income tax rate on the first $500,000 of business income to 3.5 per cent from 4.5 per cent, by January 1, 2018. The change […]
After several weeks of insistent rhetoric from Ottawa, entrepreneurs across Canada finally received some good news when the federal government began rolling back proposed tax changes for corporations. Although there is still a lack of detail, at least on the surface, there appears to be some compromise. However, there are still some troubling proposals on […]
As Finance Minister Bill Morneau wrapped up his cross-country ‘listening tour’ to gauge Canadians’ reaction to proposed federal tax changes this week, it would have been easy to confuse the minister’s message. He has made it clear the federal government is determined to promote greater fairness across the tax system, levelling the playing field for […]
The Federal Government’s 2017–18 Budget gives Canadians a taste of what they might expect over the next couple of years: attempted efficiencies, closed tax loopholes, steady deficits, and a touch of caution. Budget 2017 outlines only $200 million in net new spending, but also an increase to the deficit of more than $5 billion for […]
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