The sad reality is that only about one-third of small business’s survive into the second generation. – Are you prepared? As a business owner, you have worked hard and tirelessly to get your business to where it is today. But the sad reality is that only about one-third of small business’s survive into the second generation. Experts agree that the thorn in the side of family-owned businesses stems from a lack of preparation – on everything from succession planning to taxes…

The possibility of taxing employer paid group benefits was raised last year, when the government’s report on federal tax expenditures calculated that doing so would add $2.9 billion to the federal coffers in 2017. The current tax exemption for employee benefits was introduced in 1948 and the deduction for self-employed individuals was introduced in 1998. Both of these measures were put in place to “improve access to supplementary health and dental benefits” the report notes. Taxing employee benefits will likely…

HERE’S THE FIX……. Changes to the Employment Insurance waiting period brings employers focus back to managing short-term disabilities. The 2016 Federal Budget released earlier this year included a change that will impact disability coverage on plans.  The waiting period for Employment Insurance (EI) benefits will be reduced from two weeks to one week starting JANUARY 1, 2017. With this renewed focus on short-term benefits, many employers are struggling with how to best manage employee absenteeism due to sickness or injury. …

There’s an alternative form of compensation that business owners may have overlooked: a group benefits plan that provides health protection for their employees – and cost effectiveness for them. For those employers who have already implemented a group benefits program, it may be worth a look to add some enhanced features and benefits in lieu of a salary increase to their employees.  A study done by SunLife Financial conducted in 2011 on Generation Y (made up of employees currently in…