With the increase in the Bank of Canada rate back in July and the second in September, there’s a looming possibility of an impact on prescribed rates. If they rise, what will that mean for employee loans? Fortunately, prescribed rates won’t rise this year, as is evident in the calculations below. Still, an increase is inevitable. While […]
Many employees look forward to this time of year as they await their bonuses for the previous year. Many employers plan to pay them out before the end of February, in part so employees can use the funds to make registered retirement savings plan contributions against the previous year’s income. Often, employers will go further by […]
There were a few items of significant interest to small business owners in the 2012 Federal Budget. Most of them are reflected in the government’s expressed concern for closing perceived tax loopholes.