Some things never change, but the compilation standard isn’t one of them. The Auditing and Assurance Stands Board (AASB) has revised the standard for compilation engagements. The changes are effective for periods ending on or after December 14, 2021. Under these standards, a new compilation engagement report will replace Notice to Reader (NTR).
Earlier this year we shared that the Employment Standards Act (ESA) was providing eligible employees with up to three days paid leave for infectious disease emergency leave (IDEL) related to COVID.
This paid leave started retroactively on April 19, 2021 and will continue until December 31, 2021. Paid IDEL is available for the following reasons:
Since 2020 the Canadian government has been helping business owners across Canada with benefit programs to help cover fixed costs during lockdowns, as well as to boost rehiring as the country begins to reopen.
If you have set up shop in Ontario and only sell to customers in Ontario, sales tax is straightforward. But what happens when you start shipping goods to other provinces that have different rates of HST or use GST and PST instead? Your business tax starts to become more complex!
Earlier this year, on June 29, Bill C-208 was made law, allowing tax relief for the intergenerational transfer of small businesses and family farms.
As businesses open up again, there’s still a lot of economic uncertainty. In response, the Government of Canada has extended COVID-19 support for individuals and businesses to help support those who continue to need it.
On April 29, the government of Ontario introduced a new sick day program that provides time off (paid and unpaid) for situations related to COVID and vaccination. This program is called the Worker Income Protection Benefit.
In Ontario, there are nine official public holidays. This includes New Year’s Day, Family Day, Good Friday, Victoria Day (May 24), Canada Day, Labour Day, Thanksgiving, Christmas Day and Boxing Day.
If you are the owner or manager of a business, these public holidays may impact how you pay your employees. In order for your employees to qualify for holiday pay on these public holidays, they must meet the “last and first rule”.
