UPDATE: Government offers employers more flexibility on Canada Emergency Wage Subsidy

(source) Department of Finance Canada The Government of Canada is taking immediate, significant and decisive action to support Canadians and employers across the country who are struggling as a result of the global outbreak of COVID-19. Today, Finance Minister Bill Morneau provided further details on the eligibility criteria for companies to apply for the Canada […]

A few tips for the “paperless” implementation!

With the emergence of new technologies in recent years, the accounting world is in a state of transition. As a result, paper printing is no longer as necessary as it once was, and could be virtually eliminated within your organization. Have you ever thought of implementing the “paperless” model within your organization? This model involves […]

Important!

Did you know that as of June 13, 2019, federal corporations are required to create and update a register of individuals with significant control? It must be kept with the other registers and be available to shareholders, creditors, law enforcement agencies and Corporations Canada. Your financial institution may also request this information. The criteria for […]

Charles Darwin and Industry 4.0

|Charles Darwin industry 4.0

Over two hundred years ago, Charles Darwin gave us his theory on the evolution of species, or “transformism” as it is commonly known. Although this theory was already circulating within the scientific community at the time, Darwin was one of the first to set out the principle of the transformation of species through time and […]

Self-employed – How can you sell your business tax-free?

|self-employed sell company pay taxes

Did you know that you can sell shares in a small business corporation tax-free thanks to the capital gains deduction? In fact, every individual resident in Canada can benefit from a total amount of $848,252 in 2018 (indexed annually) as a capital gains deduction on the sale of eligible shares.

However, is it possible for a self-employed person who doesn’t operate his or her business within a corporation to benefit from the same exemption in the event of a sale?

70% of business transfers fail!

|business transfer failure

Still in 2018, the statistics speak for themselves. Only 3 out of 10 owners manage to pass the torch, whether for family succession, key employees or external buyers, the results remain the same, and have been for many years; 30% succeed and 70% fail in their business transfer project. Some have to take over the reins and rebuild to minimize financial losses. Others leave their families to deal with a heartbreaking conflict.

PERFORMANCE EVALUATION

|human resources performance assessment

In these times when skilled labor is becoming increasingly scarce, one of a company’s top priorities is to retain its workforce. An employee who knows his or her worth, but above all feels valued by his or her employer, will be more dedicated and therefore less tempted to leave the organization that hires him or her. The performance appraisal therefore becomes a retention tool in its own right, as it demonstrates with certainty to the employee the value and, above all, the confidence the organization feels in him/her and his/her skills.