RLB Blog

Ever had a threatening phone message supposedly left by the CRA? Read news stories about an unsuspecting senior bulk-purchasing iTunes gift cards to avoid more severe penalties? The truth is new ways to scam Canadians pop up daily. Robot voicemails and requests for gift cards are still happening in our communities – but there are many more scams running that you might not know. Beware of fraud! Do you know how to protect yourself and your loved ones from some of the less obvious scam attempts?

On Wednesday, March 24th, Ontario Finance Minister Peter Bethlenfalvy unveiled the province’s 2021 budget. This spending plan focused on healthcare, small businesses, and families with several key financial proposals. Read more about the 2021 budget announcement.

When COVID-19 caused worldwide closures earlier this year, businesses faced new and unprecedented challenges. Suddenly there were cash flow management questions, employee, and supply chain questions as well as new government policies to consider. One key process that also needs to be considered is how operational interruptions and market decline may impact your financial statement reporting. This is especially true if your lenders require an assurance engagement such as a review or an audit.

Like all of you, we’ve been monitoring the evolving global impact of the novel coronavirus (COVID-19). As employers, our number one priority has always been and remains the health and safety of our people.  We would like to share best practices on how you, as an employer, can uphold that commitment.  We hope that this plan adds to the health and well being of you and your employees during this time.

Further details regarding the Canada Emergency Commercial Rent Assistance (CECRA) for small businesses were announced today.  This program will be a joint effort between the Federal and Provincial governments.  Some of the key aspects of the CECRA applicable for Ontario commercial properties are outlined below:

Canada’s COVID-19 Economic Response Plan is being updated frequently. For the most up to date information follow this link:  https://www.canada.ca/en/department-finance/economic-response-plan.html

No matter how big or how small your construction company is, cash is the lifeblood of your business. There are several options for procuring funding to get started, enhance growth and invest in your company’s future. Each option has its own advantages and disadvantages so be sure to compare the different financing alternatives available to you before signing on the dotted line.

The latest round of changes to the Construction Lien Act that took effect on October 1st, 2019 making prompt payment the hot topic in the industry. As you begin working on projects that fall under the prompt payment rules, there is more to consider than just the wording of your contracts. Your staff also need to be prepared for the changes coming to their roles and processes.

On October 18th, RLB co-hosted a half-day seminar for Business Owners at Langdon Hall which addressed key issues relating to an increased change in ownership in the small and medium employers sector and the need for proactive planning. The content was structured for both buyers, sellers, and/or owners simply looking to build transferable value.