The federal government announced late last week that it is once again extending the repayment deadline for outstanding Canada Emergency Business Account (CEBA) loans. Organizations with outstanding balances will now have until January 18, 2024 (extended from December 31st, 2023), to repay their loans and still qualify for partial loan forgiveness. Ottawa last extended the CEBA […]
SHAREHOLDER AGREEMENTS Whenever a private corporation has shareholders from more than one family (and sometimes even within the same family), shareholder agreements should be considered. A typical situation is where two or three individuals go into business together, and incorporate their business, with each one owning an equal or unequal number of shares of […]
After more than two years of pandemic-related bad news, massive deficits and dire fiscal predictions, the Progressive Conservatives were clearly eager to drive home a message with the 2022 Ontario budget: We plan to build. That includes highways, schools, hospitals—you name it. The pre-election budget is not short on spending. In fact, it proposes a […]
RRSP VS. TFSA – WHICH IS BETTER? This is a question that comes up regularly in financial planning and tax planning circles. But before we attempt to answer the question, we need to know the difference in the tax treatment between these plans. Although some commentators call the first 60 days of the year the […]
In the old days (e.g., prior to the coronavirus pandemic), many organizations dedicated a less-than-optimal percentage of their HR resources to employee retention. Why bother working to retain staff when new employees were lining up for their positions? Even then, top employers understood that it not only makes more financial sense to retain and engage […]
TAX PLANNING AND ADVANCED LIFE-DEFERRED ANNUITIES (ALDAs) If you own a registered retirement savings plan (RRSP), you must wind it up by the end of the year in which you turn 71. At that point, you have the following options. First, you can take out all the funds in one lump sum. However, since the […]
The New Year brings with it a change in the leadership ranks here at KRP. After 40 years as an integral member of our management team, our friend and colleague Marshall Egelnick is calling it a career. Egelnick replaced Founding Partner Ralph Rabinowicz (since retired) as Managing Partner in 2014, and in early 2020 was […]
The federal government’s announcement Wednesday of an $82 billion stimulus package to offset the devastating economic impact of the COVID-19 outbreak provided a modicum of reassurance to Canadian businesses. Ottawa’s message was simple: we’re here for you in tough times. The package introduced $27 billion in direct support for businesses and individuals, as well as […]
Thank goodness for the so-called ‘unicorns’ of the knowledge economy. They’re the ones powering innovation, transforming markets—or creating entirely new ones—and helping their CEOs become ultra-wealthy rock star business luminaries along the way. But sometimes when their companies grow quickly, those magazine cover-worthy leaders run smack into an insurmountable wall of managerial challenges. That’s when […]
When General Motors announced plans to shutter its Oshawa assembly plant after more than a century of production, headlines bemoaned the end of an era, not to mention the further decline of the once-impressive Canadian automotive industry. Commentators debated whether the move—which GM said was part of its wider global restructuring plans, and not reflective […]
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