Month October 2024

Why business insurance is needed

Why business insurance is needed

Insurance is crucial for businesses for several key reasons: Financial Protection: Insurance helps safeguard your business against financial losses from various risks, such as property damage, liability claims, and employee-related issues. Without insurance, you’d have to cover these costs out…

Passive income and you

In Ontario, passive income rules can be complex and are governed by federal tax regulations, as well as some provincial nuances. Here’s a summary of the key points regarding passive income rules in Ontario for 2024

How minimum wage is changing the restaurant business model

On Oct 1, 2024 the minimum wage rate for both positions in Ontario goes to $17.20.  That’s an annualized increase for kitchen staff of 4.6%, only a little higher than inflation.  And I think most people accept that kitchen staff were under-paid for many years. 

What is the CPP enhancement?

The CPP enhancement was designed to increase retirement income for working Canadians and their families. On January 1, 2019, most Canadian employees, employers, and self-employed individuals started to make additional contributions to the CPP as part of the CPP enhancement.