BC Government Proposed Amendments to Employment Standards Act
On April 9, 2018, the Minister of Labour announced proposed changes to B.C. employment law that would provide mothers more time off work before and after giving birth, as well as giving parents more leave if they are suffering from the death or disappearance of a child. The proposed amendments include: Pregnancy leave: Allowing mothers to… Read more »
Improving Fairness in the Tax System by Closing Loopholes and Addressing Tax Planning Strategies
On July 18, 2017, the federal Liberal government released a consultation paper on proposed tax measures designed to close tax advantages used by certain high-income Canadians. This consultation paper follows their commitment in the March 2017 federal budget “to crack down on tax avoidance and evasion.” Specifically, the proposed measures are targeted at high-income Canadians… Read more »
Health and Wellness in the Workplace
According to the 2017 SANOFI Canada healthcare survey, only 51% of employers offer wellness programs and just 31% plan to invest more in health and wellness. However, employees in work environments that encourage health and wellness are more satisfied, more positive about their benefits and even more willing to help control costs. Wellness programs include… Read more »
No Tax Status Change for Employee Health and Dental Plans
The Federal Government was looking at the taxation of health and dental plans as part of their Spring 2017 budget. In a review, it was estimated health and dental plans as a source of tax reform could raise as much as $2.9 billion. With the proposed changes, employers or employees would pay tax on their… Read more »
Manage Your Energy, Not Your Time
As demands at work increase, employees often increase hours to keep up with workflow. The age-old adage “the early bird gets the worm” may not have as much applicability today as it once did, or at least not at the cost of charging up one’s energy levels… In this fascinating article from the Harvard Business Review, Tony Schwartz and Catherine… Read more »
Employee Benefits Plan Administration
With all businesses, your workforce evolves as time goes by. The Plan Administrator is responsible for keeping your benefits plan up-to-date, to ensure your employees receive their full benefits coverage and the correct premiums are being paid. Employee benefit plan administrators are often different in every business. Administration may be handled by the owner, accountant,… Read more »
Blockchain
I watch TED talks daily to increase my awareness of what is taking place in technology, education and design fields around the world. I find TED lectures and presentations broaden my perspective and keep me open to new ideas, whether I agree with them or not. It also provides a break from the financial services focus… Read more »
Upcoming Insurance Changes
As of January 1, 2017, changes will be made to the Insurance Act that will impact insurance benefits. New mortality tables and new rules are being adopted in the insurance industry which reflect the fact that people are living longer and their insurance policies will pay out at an older age. Any insurance policies issued… Read more »
Health and Wellness is the Key to Growth
Over the past 20 years employee health and wellness has been on the decline (read more about this concerning trend here). Encouraging your employees to engage in a healthy lifestyle will not only make them more productive on the job, it can also help reduce the costs of your Employee Benefits Program. To help your… Read more »
Maximize Idle Cash in Your Company
Many of our clients are holding fairly high cash cushions in their business. This enables them to respond to the unexpected – whether it’s a drop in sales or an acquisition opportunity. In today’s low interest rate environment, the challenge is getting much of a yield on your short-term cash. Perhaps a bigger challenge is… Read more »