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Which Employee Benefits are Taxable in Canada?

It is important to understand your tax position (and the position of your employees) when providing benefits to your workforce.  As an employer, you must report premiums paid for certain group benefits. The value of some benefits is considered taxable, so which employee benefits are taxable in Canada and which ones aren't? Some employee benefits…
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Group RRSPs for Canadian Businesses – What You Need to Know

It is no secret there is a huge talent shortage in Canada. Across the industry spectrum there are businesses desperate to hire top producers to replace an aging workforce. In this competitive environment, savvy employers see group RRSPs for Canadian businesses as a big incentive to attract and retain top talent. Here is what you…
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New BC Payroll Tax Now in Effect

The new BC Payroll Tax, also known as the BC Employer Health Tax, is in effect as of January 1st 2019.  The BC Employer health tax is designed to assist the government in eliminating MSP premiums paid by employees scheduled for January 1st, 2020. Over the next calendar year there will be an overlap for…
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Common Myths about Group RRSPs for Small Businesses in Canada

There has been a long-standing myth in the Canadian workforce that you need to work for a large corporation or in the public sector to secure a comfortable retirement. Group RRSPs for small businesses in Canada were a pipe dream in the past, after all how were they going to compete with the Canadian government…
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Group Benefits 2019 – Building a Culture of Wellness in Canada

When employers value and acknowledge the needs of their employees, productivity and profitability are the results. Of all the group benefit trends anticipated in 2019, a focus on wellness is expected to be a major factor in the Canadian market. Building a culture of wellness in Canada is playing an integral role in the success…
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Financial Education in the Workplace

Financial education should be a critical part of our public-school system. While calculus and trigonometry can be important depending on your chosen field, simple financial education is much more relevant to the entire population of young Canadians graduating high-school. Reforming our public education system aside, financial education in the workplace is the next best option…
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How Cancer Affects the Workplace

Hearing the word “cancer” from a doctor used to mean a short-term death sentence. However, now with fast rising survival rates, cancer is one of Canada’s fastest-growing chronic diseases. Most people don’t think of it as a “chronic disease.” We are used to hearing more about the death rates and end stages of the disease,…
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Health Spending Accounts and Traditional Health Insurance

There is a lot of confusion in the industry about the different types of group health benefits, what they cost and what is really the best option for a small business owner. The biggest confusion lies in the difference between Health Spending Accounts and traditional health insurance. To understand the difference, we first need to…
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New Details Emerge on the BC Employer Health Tax

As we discussed in our previous article about the new Employer Health Tax, the NDP government announced its new tax would take effect starting January 1st 2019.  The BC Employer health tax is designed to assist the government in eliminating MSP premiums paid by employees scheduled for January 1st, 2020. The government will be releasing…
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