December 2018
While there has been increased discussion surrounding Artificial Intelligence (AI) in Human Resource practices, it's important to acknowledge that AI has been prominent in recruitment for many years. Consider your Applicant Tracking System (ATS) for example. Does it recommend top candidates? Have you ever received personalized job or candidate recommendations from platforms like Indeed or LinkedIn? These actions and more are powered by AI.
Continue ReadingFor businesses beginning to provide goods and/or services into a new jurisdiction, a frequent question is whether they have an obligation to register and collect sales tax. An often-underappreciated aspect of the Canadian federal value added tax system was the decision to harmonize the provincial sales tax with the administration of the federal goods and services tax, together forming GST/HST. Currently five provinces have opted for their provincial sales tax to form part of the federal GST/HST system (Ontario, New Brunswick, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island). The GST/HST system requires one registration and return that covers the federal tax and the provincial tax for each of the harmonized provinces.
Continue ReadingNexus refers to a connection or presence in a state that gives the state authority to require a business to collect and remit sales tax on transactions within that state. Historically, physical presence, such as having a store or warehouse in a state, was the primary factor in determining nexus. However, with the rise of e-commerce and remote sales, the physical presence requirement has become less clear, leading to confusion for both businesses and states.
Continue ReadingMany people are unaware that there is more than one way to prepare financial records. There are two methods: cash accounting which involves recording revenue and expenses at the time they are paid, and accrual accounting which records revenue and expenses in the period that services are applicable to. Although cash accounting can be easier than accrual accounting, it does not provide an accurate picture of a corporation’s annual revenue and expenses. Accrual accounting not only gives a more accurate picture of the corporation’s revenue, expenses, assets, and liabilities, it is also required under the Generally Accepted Accounting Principles (GAAP). This means that auditors only audit based on the accrual method, therefore, if cash accounting was used to prepare the financial records, the books must be updated to reflect accrual accounting before having an audit completed.
Continue ReadingZACHARY BRONSTEIN JOINS RLB AS ASSOCIATE PARTNER
Continue ReadingBill C-47, Budget Implementation Act, 2023, No. 1 was enacted on June 22, 2023, after receiving Royal Assent. Bill C-47 outlines various tax measures such as the extended mandatory disclosure rules, extension of residential property flipping rule to assignment sales, and new reporting requirements for digital platform operators.
Continue ReadingEvery employee has an employment agreement. Whether it be verbal or written, implied or explicit, indefinite, or limited. Sometimes, despite best efforts, employment agreements can even be created unintentionally, which can present unnecessary liability for the parties involved. Should any form of dispute arise, enforceable employment agreements are much more reliable and can result in less costly remediation.
Continue ReadingWhether you are a US resident or not, it is important that all individuals understand US estate tax and how it can affect them upon death. Estate taxes are taxes that are imposed on the transfer of a person’s estate after their death. These taxes can be imposed by both the United States government and the Canadian government, and they can significantly impact the value of an estate.
Continue ReadingIn the dynamic landscape of Ontario's labour market, staying informed about the latest legislative developments is crucial for both employers and employees alike. In 2023, the realm of employment laws underwent a profound transformation, introducing a series of impactful changes. These latest revisions to the Working for Workers Act, 2023 continue to reshape the landscape for both employers and employees.
Continue ReadingIt is the start of a new year and RLB is thrilled to share the news of the advancement of four of our team members within the organization. We are excited to welcome these individuals into leadership positions within RLB and look forward to their contributions to our team.
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