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”.
Hiring an apprentice is an excellent human resource strategy. It helps reduce the challenges of skill shortages as tradespersons retire, and ensures a regular supply of trained workers.
It’s a new tax year and your tax return has now been filed. That means ç
Koroll & Company welcomed Michael Falcone, CPA, CGA, LPA to the company in February, 2021. We are excited to share the announcement with you, and to introduce you to Michael, a most valued new member of our team.
As of July 1, 2021, new rules will be imposed on employee stock options.
Employee stock options are a form of compensation that some companies offer their employees. They give an employee the right to buy a specific number of shares at a pre-set price. But they must be purchased within a specific time frame.
Earlier this year the provincial government announced an additional relief measure to support businesses. This included increasing the exemption on Employer Health Tax from $490,000 to $1 million. The exemption will return to $490,00 on January 1, 2021. It will be further adjusted based on inflation in 2024. They are also providing 5 months of relief to businesses that are not able to file/remit their taxes. Today we are going to provide some clarity about EHT and whether you need to file it.
