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Budgeting With a Surplus

Budgeting With a Surplus

Budgeting: Should last year’s surplus be used to fund a pet sanctuary? It’s that time of year again for the Annual General Meeting (AGM) and then comes the process of forming next year’s budget.

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COVID-19 Business Support Update

COVID-19 Business Support Update
December 6, 2021

On November 24th Bill C-2 was introduced to Parliament to implement the new subsidy programs announced in October. This bill included the following supports for businesses:

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Fraud Awareness Week

Fraud Awareness Week

November 14th marks the beginning of Fraud Awareness Week. Are you or your business vulnerable to fraud? What is it and what should you look out for? Let’s take a look at the “Fraud Triangle”. 

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2022 Minimum Wage Increase

2022 Minimum Wage Increase

One month after the last minimum wage increase the province has announced that they would like to increase it again.  On October 1st the minimum wage increased to $14.35 per hour.  The proposed changes would see this increased to $15.00 per hour on January 1, 2022.  The Ontario government has stated the reason for the increase is to keep up with the cost of living that has increased considerably during the pandemic.

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Government Subsidy Update

Government Subsidy Update

There are changes happening in the CRA’s subsidy programs this fall.  The Canada Emergency Wage Subsidy (CEWS) and Canada Emergency Rent Subsidy (CERS) end on October 23, 2021.  These programs have provided wage and rent subsidy income to businesses that have been affected by the COVID pandemic.  There is a 6-month filing deadline on these programs, so the final periods will be due September 20, 2022.

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October is Small Business Month

October is Small Business Month

At RLB, we’re passionate about client success. We go beyond traditional accounting services and offer our clients experienced business advisory services. In honour of Small Business Month, some of RLB’s business experts have shared with us their personal secrets for growing your small business.

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Minimum Wage Increase

Minimum Wage Increase

Ontario will see another minimum wage increase this fall.  The minimum wage will increase from $14.25 per hour to $14.35 per hour.  This new rate is effective October 1, 2021.  The last increase was a year ago, which saw a $0.25 per hour increase.

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What is the Canada Recovery Hiring Program?

What is the Canada Recovery Hiring Program?
July 4, 2021

The 2021 Budget proposed a new program called the Canada Recovery Hiring Program to help eligible employers with the costs of re-hiring or hiring new staff as their business opens back up. Employers can only claim one subsidy per qualifying period; the Canada Recovery Hiring Program (CRHP) or the Canada Emergency Wage Subsidy (CEWS). There are many similarities between the two programs, however, there are a couple of subtle differences.

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GST/HST Changes Effective July 1st, 2021

GST/HST Changes Effective July 1st, 2021

GST/HST Changes Effective July 1, 2021 As many of us have been confined to our homes during the pandemic for some or all of the past year, it should come as no surprise that online shopping platforms have flourished. Canadians have enjoyed the convenience and safety of shopping from their living rooms, confirmed in the Government of Canada's Fall Economic Statement, where it was noted that retail e-commerce was up nearly 70% in the first eight months of 2020.

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Making the Most of Your Financing

Making the Most of Your Financing

Many companies rely on financial leverage such as loans, mortgages, and credit facilities to sustain and grow their businesses. Current economic conditions may place higher reliance on financing for the operational success and continuance of your company. Once you have acquired financing from a bank, a private lender, or another financial institution, it is essential to plan for what comes next. The following tips will help you get the most out of your financial leverage.

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