Hodge Podge September 2021
MINIMUM WAGE IN ONTARIO
Minimum wage rates in Ontario will increase on October 1, 2021. Under the Making Ontario Open for Business Act this increase is tied to the Ontario Consumer Price Index for 2020.
The increase to the general minimum wage is 10 cents, which brings the new rate to $14.35 an hour.
The general and specialized minimum wage rates that also take effect on October 1, 2021 are detailed in the chart below.
*chart is from Ontario.ca
For more information please go to:
CANADA EXTENDS RENT AND WAGE SUBSIDIES TO OCTOBER 2021
The Canada Emergency Wage Subsidy (CEWS) and the Canada Emergency Rent Subsidy (CERS) were set to expire on September 25, 2021, however, for certain employers, qualifying tenants and property owners, Canada has extended these subsidies through to October 23, 2021. The announcement indicated they will maintain the current CEWS and CERS rate of up to a maximum of 40% of eligible wages or eligible rent or property expenses from August 29, 2021 until September 25, 2021. Starting September 26, 2021 through to the end of the extended period (October 23, 2021) the maximum CEWS and CERS rate of 20% will apply and the Lockdown Support will continue to apply at a rate of 25%.
The wage subsidy for furloughed employees ended on August 28, 2021.
OTHER COVID-19 BENEFIT PROGRAMS EXTENDED
The Canada Recovery Benefit (CRB) has been extended to October 23, 2021. It had previously been set to end on September 25, 2021. The government has also increased the maximum number of weeks for the CRB from 50 weeks to 54 weeks at a rate of $300 per week. The CRB will be available to individuals who have exhausted their employment insurance (EI) benefits.
The Canada Recovery Caregiving Benefit (CRCB), and The Canada Recovery Sickness Benefit (CRSB) have also been extended from September 25, 2021 to October 23, 2021.
The Ontario Government has extended the three days of paid sick leave from the original end date of September 25, 2021 to December 31, 2021. Employers can apply for reimbursement of sick leave paid up to $200 per day.
TAX CHANGES FOR INTERGENERATIONAL TRANSFERS - NOW LAW
On July 19, 2021 the Department of Finance issued a press release which confirmed that the provisions of Bill C-208, which was granted Royal Assent on June, 29, 2021, will take effect immediately for intergenerational transfers of shares of small businesses or family farm and fishing corporations. The intent of this bill is to provide tax relief for families wishing to transfer shares of their small businesses and farm/fishing corporations to their children. The Department of Finance indicated that there will be some amendments to the bill to ensure that these rules are only being used to aid genuine intergenerational transfers, and that they won’t be used for artificial tax planning purposes. These amendments will address:
The requirement to transfer legal and factual control of the corporation carrying on the business from the parent to their child or grandchild;
The level of ownership in the corporation carrying on the business that the parent can maintain for a reasonable time after the transfer;
The requirements and timeline for the parent to transition their involvement in the business to the next generation; and
The level of involvement of the child or grandchild in the business after the transfer.
For a full description of the changes to the Income Tax Act, please visit this link:
Babies born during the Autumn months are more likely to live to 100 than those born during the rest of the year.
No film with Autumn in its title has ever won an Oscar; all the other seasons have.
Butterflies, like birds, also migrate south in the Fall.
The aurora borealis is more likely to occur in the Fall.
Pumpkin spice, a favourite fall flavour, actually tastes nothing like pumpkins.
NATIONAL DAY OF TRUTH AND RECONCILIATION
The government has recently announced that September 30th is now the National Day of Truth and Reconciliation. This is a Federal Statutory holiday that was created to recognize and commemorate the legacy of residential schools. Since this is a day of awareness, this day may present itself as a day of quiet reflection or participation in a community event. This will operate the same as other statutory holidays in the country, which is a paid day off for those who work in federally regulated jobs, which means Federal offices as well as banks will be closed for this day.
For more information please visit this link:
CHANGES TO THE ONTARIO BUSINESS CORPORATIONS ACT
Effective July 5, 2021, the Ontario Business Corporations Act (OBCA) was updated for the Bill 213 – Better for People, Smarter for Business Act, 2020.
eliminate the requirement that, generally, at least 25% of a corporation’s directors be residents of Canada
Generally lower the approval threshold for a written shareholder resolution in lieu of a meeting for privately held corporations for certain actions requiring ordinary resolutions to at least a majority of the voting shares. The current requirement is a unanimous vote of shares
Clarify the types of shareholder decisions that require ordinary resolutions and addressing notice requirements for written ordinary resolutions passed at the lower threshold
Other technical amendments to various provisions of the Act
Corporations must continue to include resident Canadian data in their Articles of Incorporation (form 1) and their initial/annual returns under the Corporations Information Act.
The amendments will create more flexibility for foreign business owners incorporating in Ontario. The changes will help to align the OBCA with the regulations in some other Canadian jurisdictions.
For more information, visit:
NEW ONTARIO BUSINESS REGISTRY AND ENACTMENT OF THE NOT-FOR-PROFIT CORPORATIONS ACT
Service Ontario will be launching the Ontario Business Registry on October 19, 2021. The Not-for-Profit Corporations Act will also come into effect the same date.
The profiles for existing corporations and Not-for-Profit Organizations (NPOs) will be transitioned to the new system when it is launched.
In order to access a profile, a company key is required. The company key should be kept confidential as the holder can change profile information and make filings.
More information on obtaining a company key will be available closer to the launch date.
There will be a procedure available to authorize qualified intermediaries to file information on behalf of the corporation or NPO.
The types of services available through the new registry include incorporating or dissolving a corporation in Ontario and filing an annual return.
The process to enact the Not-for-Profit Corporations Act has been in the works since 2010. NPOs will have three years to transition to the new regulations.
For more information on the Not-for-Profit Corporations Act, please see:
65 UNBELIEVABLY EASY FALL DINNER RECIPES FROM DELISH.COM
Harvest Chicken Casserole
A satisfying casserole with all of your fall favourites - #13 on the list,
These fall recipes from delish.com couldn't be easier. When you want a dinner that screams fall, make one of these hearty casseroles, pureed soups, or skillet dinners—they're way better than anything store bought.