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Fall 2018 Newsletter 

October 16, 2018

 

Accounting 

Human Resources Solutions

Wealth Management

Company News

 

Update – The Revised Income Sprinkling Measures

 

In our January 2018 Tax Alert, we summarized the revised income sprinkling measures and explained what changed and what these changes may mean to your family.

 

These new income splitting rules (Tax on Split Income or “TOSI” rules) are currently applicable (as of January 1, 2018). In evaluating your 2018 and future remuneration plans, these new rules should be reviewed to ensure they are properly planned for.  If a change to your corporate structure is required, this change may be required to be implemented before January 1, 2019 to avoid certain negative implications.

Women advising a couple

 

There are some additional developments since our previous Tax Alert in respect of the two primary “bright-line” tests that were introduced on December 13, 2017 being the “excluded business” exemption and the “excluded share” exemption.

 

“Excluded business” exemption

The “excluded business” exemption is available to adults aged 18 or over who have made a substantial labour contribution to the business (generally at least 20 hours on average per week) during the year or any cumulative five prior years.

 

The Canada Revenue Agency (“CRA”) has recently clarified a few uncertainties with how they will assess the excluded business exemption.

 

Issue #1 – What will be the burden of proof for a business owner to show that a spouse or child worked at least 20 hours in the business in a given year?

The CRA noted that “records such as timesheets, schedules, logbooks or payroll records retained by either an individual or a business will be sufficient to establish the number of hours the individual worked in a given year.”

 

Issue #2 – What will be the burden of proof for a business owner to show that a spouse or child worked at least 20 hours in the business in previous years if they did not keep any formal records of their work?

The CRA has noted that it will consider factors such as: “the type of business and duties performed as they relate to the main activities of the business; the individual’s education, training and experience; and any particular knowledge, skills or know-how that the individual possessed.”

 

Issue #3 – Will companies that operate multiple businesses in one corporate entity be required to trace funds if relying on the “excluded business” exemption?

The  CRA has stated that companies that operate several businesses in one corporate entity will require separate accounting for each business and a tracing of funds to meet the “excluded business” exemption.  

 

“Excluded share” exemption

The “excluded share” exemption is available when

  1. Adults aged 25 or over directly own shares that carry a minimum of 10% of votes and value of the corporation;
  2. The business income of the corporation for the last year was derived less than 90% from the provision of services;
  3. The corporation is not a professional corporation; and
  4. Less than 10% of the income of the corporation for the last year was derived from a related business (not carried on by the corporation).

The Department of Finance released additional changes on March 22, 2018.  These changes include:

 

Change #1 – Removed the historical “related business” taint in certain situations. 

This change cleared up many uncertainties for those retired business owners with corporations that previously carried on an active business. 

The legislation has been revised to clarify that for purposes of the “excluded shares” definition a “related business” does not include a business of the same corporation.  Therefore, assuming all other conditions are met, it would be possible for spouses of retired business owners to avoid the TOSI rules.

It is important to note that in situations where the retained earnings of a previous business has been moved to another corporation, the “excluded shares” exemption will remain problematic.

 

Change #2 – Fixed the 10% votes and value threshold

The legislation has been revised by shifting the 10% votes and value threshold requirement from the tested shares to the shareholder.  Under the new legislation, there is no longer a need for votes and value to reside on the same class of shares.  A shareholder only needs to hold shares that in aggregate provide 10% or more votes and value.

 

Issue #1 – What is considered “provision of services”? 

The phrase “provision of services” is an undefined term and the CRA has provided little guidance to taxpayers with the exception of the following:

“Where a corporation has income from the provision of both services and non-services (including a service business that also involves a sale of property such as a business carried on by plumbers, mechanics or other contractors that sell replacement parts or building materials), the income from the provision of services and non-services should be computed separately and the non-service income should generally be taken into account in determining whether shares of a corporation are excluded shares of an individual unless such income can reasonably be considered to be necessary but incidental to the provision of services (for instance as would be the case in an office cleaning service if it billed separately for the cleaning supplies used).”

 

How is your family trust and/or holding company structure impacted?

Due to the inability to meet the excluded share exemption in a structure that includes a family trust or a holding company, business owners will need to evaluate if their current structure is still effective or whether it should be restructured to minimize the implications from the new TOSI rules.

 

It is important to consider pro-active planning to ensure you understand how these tax changes will impact you, your family and your business.  We encourage you to review this with your accountant.

 

Top of Page

 

What Do We Require for Your Year End Financial Statements?

 

Woman writing on notepad

Shortly before your business’ year end, we send an information request letter.  This letter is customized to each client based on what was needed to complete your previous year’s financial statement and income tax return.

 

Most clients use computerized bookkeeping software. Providing us with access to your information electronically is very helpful. This allows us access to the general ledger.  When inputting information try to ensure all expenses have a note or description associated with the expense. This saves time as we do not need to enquire into the nature of the expense or request supporting receipts to understand the nature of the expense.

 

It is very helpful that you provide signed consent forms for the Canada Revenue Agency. A signed Business Consent on file allows us access to your account with CRA to review previous notices of assessment, payroll remittances, HST and corporate tax information.  Your consent only has to be provided once and is valid until you withdraw it.  If you have not already provided your consent you will notice a completed consent form in your year end package.  We ask that you sign and return it to us at your earliest convenience.

 

Next time you receive the year end letter, consider using it as a checklist to help us be as efficient and effective as possible. If we require additional information we will contact you with that specific request.  Do not hesitate to call us to discuss any particulars of the letter that you may not understand. 

 

Top of Page

 

How to Protect Yourself from Online Fraud

 

Gone are the days where all you needed was a good anti-virus program and firewall to protect you, now criminals are using technology to gather information to access online banking accounts,  credit card information, PayPal accounts, Amazon and other online shopping accounts. 

 

Criminals are doing this by one of two methods

  1. They are gaining access to computers to gather information by searching files, monitoring usage, or searching log files such as browser history. 
  2. They are using social engineering tactics to trick people to just outright tell them the information through a phone call, email or website.   This includes methods such phishing or phone scams where the criminal falsely represents themselves as a company you may deal with, as friends and family using known names and email addresses, and playing on emotion by making you feel like something is extremely urgent and there will be consequences unless you take immediate action, or the opposite there will be a reward if you take suggested action.
Websites on multiple screens

Anti-Virus software and firewalls are still important to help combat method # 1 above but even those are being circumvented by criminals using method #2 to get people to override the security measures.  More and more the weakest link is the end user themselves.

 

So what can you do to help protect yourself?  Below are 7 tips and suggestions to help protect you.

  1. Question anything that asks you to click a link, open an attachment, provide personal information or take some form of action.  Stop to consider if the request or message is out of character or unexpected, even if from a sender you are familiar with.  For example, if a company, friend or family is requesting you to take an action or requesting personal information and you are unsure it is legit,  call for confirmation.  Call them back at a number you are familiar with or have on record, or go online look up the company’s phone number, don’t use a phone number provided in the original email or provided by the caller.  CRA and banking institutions will not ask for personal information or ask for payment by credit card through email or by phone unless you have initiated the call.
  2. Check online activity for bank accounts, credit cards, and other online accounts regularly for odd activity that was not generated by you.
  3. Change your passwords multiple times a year and use different passwords for different sites.  I.E.  The website for something like a Hockey Pool may not be as secure as your banking site but if that hockey pool site is hacked and uses the same password as your banking site the criminals may try that password to access your bank account.
  4. Avoid entering personal information on websites or any financial transactions while connected to public Wi-Fi (e.g. hotel, restaurant or airport), unless using security software such as a VPN or some sort of other encryption method.  If using a smartphone, disconnect from the public Wi-Fi and use your carrier’s data network for these actions if needed.
  5. Backup your data on PCs and other devices regularly.  A backup of this data can be used to recover from device failure, ransomware, or user error.  If using a form of online backup make sure it is secure and reputable.
  6. Keep your Anti-Virus, Firewall, and software up to date. 
  7. Never give remote control of your PC to anyone unless you initiated the contact.

For more information on cyber security, your bank website likely has a security page to educate users on online fraud and latest scams or visit:

Government of Canada Cyber Security
Canadian Anti-Fraud Centre
 

Top of Page

 

Cannabis Legislation is Looming…

 

Ontario is moving forward with the legalization of recreational cannabis October 17, 2018.  To be duly diligent and to maintain a healthy and safe workplace, employers should review their current policies that could be impacted by this change; such as smoking, driving, social events, impairment in the workplace, and accommodation, to name a few. 

 

It is important that workers notify the employer of their personal accommodation needs, the potential hazard of impaired co-workers, and that they report to work fit for duty.

 

The employer should ensure that policies protect the rights of the workers relating to privacy and accommodation, but also the employer’s right to enforce zero tolerance. 

 

Top of Page

 

The Increasing Visibility of Health & Safety

 

Construction and manufacturing sectors are very aware of the Occupational Health & Safety Act, however are you aware that the Industrial Regulations also apply to workplaces such as offices, retail operations, service businesses, arenas, some veterinary practices, and factories (manufacturing, assembly, cleaning, repairing, warehousing, refinishing, etc.)?

 

If your business is in Ontario, you employ people, or you work in Ontario, you are likely covered by the OHSA.  Exemptions to this general rule include:

Our HR and H&S consultants have seen an increasing focus on Workplace Health and Safety, with some recent trends:

  • An increase in workplace harassment claims and investigations, as well as Ministry of Labour (MOL) orders regarding violence and harassment policies, procedures, and worker training.
  • The MOL is continuing its 2018/2019 initiatives including the focus on ergonomics in Municipal environments, and the implementation of the internal responsibility system in new and small businesses in the industrial sector.  Click here for more information.
  • In October the MOL is holding stakeholder consultations regarding their Safe At Work Ontario strategy.  Ward & Uptigrove Health & Safety specialist, Jennifer Goertzen, is attending a session, so look for a summary of the updates in our year end newsletter. 
Munipal park employee

To learn more about your responsibilities, how to maintain a safe workplace and comply with legislation, contact Jennifer at JenniferG@w-u.on.ca or 519-291-3040 ext. 708

 

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Leadership Learning Program

 

Man leading 3 team members at a table

This is our 20th time running this highly successful training program. The Leadership Learning Program is designed to give you and/or your employees the tools to lead and to supervise effectively. It covers leadership and self-awareness, productive time management, communicating for reduced conflict, coaching for engagement and developing high functioning teams.

 

Our fall series is just around the corner, and we only have a few spaces left!

We’ll be running this session again in spring 2019 as well:

To register or get more information email us at hrresults@w-u.on.ca, call 519-291-3040 or visit wardanduptigrove.com/leadership

 

This series usually sells out so register early to guarantee your spot.

 

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Becoming a Dementia Friendly Practice

 

Ward & Uptigrove Wealth Management recently took steps to become a Dementia-Friendly Practice so that we can continue to offer exceptional and relevant lifelong service to our clients.

WM team at Dementia Friendly training

 

With advancing age, the risk of experiencing a change in cognitive function increases significantly and could adversely affect one’s ability to manage their finances and make decisions with full insight and understanding.   This could have unintended, devastating, and potentially irreversible consequences for both the individual and their loved ones.  

 

Our goal is to ensure we can maximize the rights of our clients to achieve their financial goals, make their own decisions and choices, without putting their financial and personal wellbeing at risk as a result of changing cognitive abilities. 

 

Ward & Uptigrove Wealth Management is committed to working proactively to address issues that have the potential to affect our clients’ financial goals, needs, and priorities.  

 

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What is a Power of Attorney?

 

A Power of Attorney is a legal document in which you entrust someone, known as your attorney, to hold the right to make decisions for you if you are no longer able to do so on your own. 

 

There are two types of Power of Attorney:

  1. Power of Attorney for Personal Care: A person you name that can make decisions about your healthcare, housing, and other aspects of your personal life if you become mentally incapable of making said decisions.  The person you choose as your power of attorney for personal care must be at least 16 years of age.
  2. Power of Attorney for Property: An individual that can make decisions about your financial affairs. The person you choose as your power of attorney for property must be at least 18 years old. 
advisor helping client with paperwork

Choosing your attorney for personal care
The person you decide to appoint as your attorney for personal care should be someone you trust to make decisions about your housing, food, health, safety, hygiene and clothing. This could be a family member or a close friend. It is important to consult with the person you hope to make your attorney and make sure that he or she is willing to take on this responsibility if needed.

 

Choosing Your Power of Attorney for Property

The person you choose should understand your wishes and agree to this important responsibility, which includes keeping detailed records of all transactions involving your money and assets. You may want to include a statement in your Power of Attorney that says the attorney can only make decisions if you become mentally incapable. 

 

Choosing a POA to make decisions regarding your property is a very important decision and needs a lot of careful thought. Therefore, it is essential to consider whether the person is willing to take on this responsibility if need be. There is a lot of work involved, and the law expects your attorney to meet very high standards. Consider whether the person is trustworthy, responsible and good at handling finances. Will the person make sure you have all the things you need? Will your privacy be respected? Can you trust the person not to misuse your money? These are just a few of the things you should consider before you decide.

 

Also, note that your attorney is entitled to take payment from your funds at a rate specified by law unless you say otherwise in your CPOA (Continuing Power of Attorney for Property). If you want to set the amount yourself, or you don’t want your attorney to be paid at all, you must include this in the document.

 

If your CPOA is silent on the matter of payment, your attorney will be entitled to:

When Should You Start This Process?
There is no benefit to waiting.  Being young and healthy does not mean the unthinkable can’t happen.   Car accidents alone have, and can, lead to mental incapacity or at best a long hospital stay hindering your ability to contribute to any major financial decision.  


Talk to your advisor if you are looking to have a lawyer write your power of attorney. Consider this if your personal or business affairs are complicated.  Always store legal documents in a safe place. Make sure that your attorney, your bank and anyone else who needs to know about these documents has a copy or knows where to get one. The government does not keep a registry of powers of attorney.

 

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United Way Perth-Huron 2018 Campaign

 

On September 19, Ward & Uptigrove hosted a BBQ to help United Way Perth-Huron (UWPH) kick off their annual fundraising campaign and our workplace campaign. 

 

United Way goal revealed at BBQ UWPH Campaign Co-Chair Martin Ritsma was on hand for the campaign goal announcement of $1,446,625, along with UWPH Executive Director Ryan Erb and North Perth Community Committee (NPCC) Chair Shelley Blackmore. The community and local dignitaries were also on hand to celebrate the number and show support for United Way’s efforts to overcome unignorable issues in the community, such as hunger and homelessness, youth mental health and social isolation, with local love.

 

In addition to the BBQ, we had 13 Partner, Principal and Manager nominees for an Ice Bucket Challenge.  Tied for the highest donation amount, Kris Uptigrove and Paul Hak were the fortunate winners of the ice water dump.

 

We thank all who came and donated, we were able to raise over $4,500 for United Way Perth-Huron.

 

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Client Communications and Email

 

We’ve always strived to provide value added information with our client newsletters and communications.   With the ever changing world of business and finance, we are moving to more timely digital communications such as more regular email newsletters, social media and website news sections.  

 

As almost all clients have email, our Newsletter will now be distributed digitally, so please ensure we have your correct email address. 

 

Our communications are often segmented by

All clients and subscribers receive our Newsletters.  If you would like to update your email preferences, please email info@w-u.on.ca or visit wardanduptigrove.com/subscribe

 

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Ward & Uptigrove’s New Online Presence

 

wardanduptigrove.com received a refresh!  Modern and simplified, clients can visit the website to read our communications in the News section, download Resources or see Events.

 

With our new website, we also entered into social media.  Like and follow us for timely updates on regulations changes, invitations, reminders, and team news. 

 

Ward & Uptigrove 

 

Ward & Uptigrove Wealth Management

 

Ward & Uptigrove HR Solutions

 

For an understanding of the things we are sharing, here are some of our top posts.

 

Facebook - Free Swim post Twitter - 1234 poster update post Linkedin - Public Holiday Pay change post

 

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Firm’s 60th Anniversary

 

It was September 1958 when Jack Ward opened the first accounting firm in Listowel under the name J.C. Ward Chartered Accountant.   Now 60 years later, Ward & Uptigrove Chartered Professional Accountants currently has 8 partners and 7 principals and approximately 100 employees.  This team is dedicated to providing over 6,000 clients high quality service through three integrated entities:

Ward & Uptigrove team photo

 

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Ward and Uptigrove Logo

Fall 2018 Newsletter 

October 16, 2018

 

 

Accounting 

Human Resources Solutions

Wealth Management

Company News

 

 

Update – The Revised Income Sprinkling Measures

 

In our January 2018 Tax Alert, we summarized the revised income sprinkling measures and explained what changed and what these changes may mean to your family.

 

These new income splitting rules (Tax on Split Income or “TOSI” rules) are currently applicable (as of January 1, 2018). In evaluating your 2018 and future remuneration plans, these new rules should be reviewed to ensure they are properly planned for.  If a change to your corporate structure is required, this change may be required to be implemented before January 1, 2019 to avoid certain negative implications.

 

There are some additional developments since our previous Tax Alert in respect of the two primary “bright-line” tests that were introduced on December 13, 2017 being the “excluded business” exemption and the “excluded share” exemption.

 

“Excluded business” exemption

The “excluded business” exemption is available to adults aged 18 or over who have made a substantial labour contribution to the business (generally at least 20 hours on average per week) during the year or any cumulative five prior years.

 

The Canada Revenue Agency (“CRA”) has recently clarified a few uncertainties with how they will assess the excluded business exemption.

 

Issue #1 – What will be the burden of proof for a business owner to show that a spouse or child worked at least 20 hours in the business in a given year?

The CRA noted that “records such as timesheets, schedules, logbooks or payroll records retained by either an individual or a business will be sufficient to establish the number of hours the individual worked in a given year.”

 

Issue #2 – What will be the burden of proof for a business owner to show that a spouse or child worked at least 20 hours in the business in previous years if they did not keep any formal records of their work?

The CRA has noted that it will consider factors such as: “the type of business and duties performed as they relate to the main activities of the business; the individual’s education, training and experience; and any particular knowledge, skills or know-how that the individual possessed.”

 

Issue #3 – Will companies that operate multiple businesses in one corporate entity be required to trace funds if relying on the “excluded business” exemption?

The  CRA has stated that companies that operate several businesses in one corporate entity will require separate accounting for each business and a tracing of funds to meet the “excluded business” exemption.  

 

“Excluded share” exemption

The “excluded share” exemption is available when

  1. Adults aged 25 or over directly own shares that carry a minimum of 10% of votes and value of the corporation;
  2. The business income of the corporation for the last year was derived less than 90% from the provision of services;
  3. The corporation is not a professional corporation; and
  4. Less than 10% of the income of the corporation for the last year was derived from a related business (not carried on by the corporation).

The Department of Finance released additional changes on March 22, 2018.  These changes include:

 

Change #1 – Removed the historical “related business” taint in certain situations. 

This change cleared up many uncertainties for those retired business owners with corporations that previously carried on an active business. 

The legislation has been revised to clarify that for purposes of the “excluded shares” definition a “related business” does not include a business of the same corporation.  Therefore, assuming all other conditions are met, it would be possible for spouses of retired business owners to avoid the TOSI rules.

It is important to note that in situations where the retained earnings of a previous business has been moved to another corporation, the “excluded shares” exemption will remain problematic.

 

Change #2 – Fixed the 10% votes and value threshold

The legislation has been revised by shifting the 10% votes and value threshold requirement from the tested shares to the shareholder.  Under the new legislation, there is no longer a need for votes and value to reside on the same class of shares.  A shareholder only needs to hold shares that in aggregate provide 10% or more votes and value.

 

Issue #1 – What is considered “provision of services”? 

The phrase “provision of services” is an undefined term and the CRA has provided little guidance to taxpayers with the exception of the following:

“Where a corporation has income from the provision of both services and non-services (including a service business that also involves a sale of property such as a business carried on by plumbers, mechanics or other contractors that sell replacement parts or building materials), the income from the provision of services and non-services should be computed separately and the non-service income should generally be taken into account in determining whether shares of a corporation are excluded shares of an individual unless such income can reasonably be considered to be necessary but incidental to the provision of services (for instance as would be the case in an office cleaning service if it billed separately for the cleaning supplies used).”

 

How is your family trust and/or holding company structure impacted?

Due to the inability to meet the excluded share exemption in a structure that includes a family trust or a holding company, business owners will need to evaluate if their current structure is still effective or whether it should be restructured to minimize the implications from the new TOSI rules.

 

It is important to consider pro-active planning to ensure you understand how these tax changes will impact you, your family and your business.  We encourage you to review this with your accountant.

 

Top of Page

 

 

What Do We Require for Your Year End Financial Statements?

 

Shortly before your business’ year end, we send an information request letter.  This letter is customized to each client based on what was needed to complete your previous year’s financial statement and income tax return.

 

Most clients use computerized bookkeeping software. Providing us with access to your information electronically is very helpful. This allows us access to the general ledger.  When inputting information try to ensure all expenses have a note or description associated with the expense. This saves time as we do not need to enquire into the nature of the expense or request supporting receipts to understand the nature of the expense.

 

It is very helpful that you provide signed consent forms for the Canada Revenue Agency. A signed Business Consent on file allows us access to your account with CRA to review previous notices of assessment, payroll remittances, HST and corporate tax information.  Your consent only has to be provided once and is valid until you withdraw it.  If you have not already provided your consent you will notice a completed consent form in your year end package.  We ask that you sign and return it to us at your earliest convenience.

 

Next time you receive the year end letter, consider using it as a checklist to help us be as efficient and effective as possible. If we require additional information we will contact you with that specific request.  Do not hesitate to call us to discuss any particulars of the letter that you may not understand. 

 

Top of Page

 

 

How to Protect Yourself from Online Fraud

 

Gone are the days where all you needed was a good anti-virus program and firewall to protect you, now criminals are using technology to gather information to access online banking accounts,  credit card information, PayPal accounts, Amazon and other online shopping accounts. 

 

Criminals are doing this by one of two methods

  1. They are gaining access to computers to gather information by searching files, monitoring usage, or searching log files such as browser history. 
  2. They are using social engineering tactics to trick people to just outright tell them the information through a phone call, email or website.   This includes methods such phishing or phone scams where the criminal falsely represents themselves as a company you may deal with, as friends and family using known names and email addresses, and playing on emotion by making you feel like something is extremely urgent and there will be consequences unless you take immediate action, or the opposite there will be a reward if you take suggested action.

Anti-Virus software and firewalls are still important to help combat method # 1 above but even those are being circumvented by criminals using method #2 to get people to override the security measures.  More and more the weakest link is the end user themselves.

 

So what can you do to help protect yourself?  Below are 7 tips and suggestions to help protect you.

  1. Question anything that asks you to click a link, open an attachment, provide personal information or take some form of action.  Stop to consider if the request or message is out of character or unexpected, even if from a sender you are familiar with.  For example, if a company, friend or family is requesting you to take an action or requesting personal information and you are unsure it is legit,  call for confirmation.  Call them back at a number you are familiar with or have on record, or go online look up the company’s phone number, don’t use a phone number provided in the original email or provided by the caller.  CRA and banking institutions will not ask for personal information or ask for payment by credit card through email or by phone unless you have initiated the call.
  2. Check online activity for bank accounts, credit cards, and other online accounts regularly for odd activity that was not generated by you.
  3. Change your passwords multiple times a year and use different passwords for different sites.  I.E.  The website for something like a Hockey Pool may not be as secure as your banking site but if that hockey pool site is hacked and uses the same password as your banking site the criminals may try that password to access your bank account.
  4. Avoid entering personal information on websites or any financial transactions while connected to public Wi-Fi (e.g. hotel, restaurant or airport), unless using security software such as a VPN or some sort of other encryption method.  If using a smartphone, disconnect from the public Wi-Fi and use your carrier’s data network for these actions if needed.
  5. Backup your data on PCs and other devices regularly.  A backup of this data can be used to recover from device failure, ransomware, or user error.  If using a form of online backup make sure it is secure and reputable.
  6. Keep your Anti-Virus, Firewall, and software up to date. 
  7. Never give remote control of your PC to anyone unless you initiated the contact.

For more information on cyber security, your bank website likely has a security page to educate users on online fraud and latest scams or visit:

Government of Canada Cyber Security
Canadian Anti-Fraud Centre
 

Top of Page

 

 

Cannabis Legislation is Looming…

 

Ontario is moving forward with the legalization of recreational cannabis October 17, 2018.  To be duly diligent and to maintain a healthy and safe workplace, employers should review their current policies that could be impacted by this change; such as smoking, driving, social events, impairment in the workplace, and accommodation, to name a few. 

 

It is important that workers notify the employer of their personal accommodation needs, the potential hazard of impaired co-workers, and that they report to work fit for duty.

 

The employer should ensure that policies protect the rights of the workers relating to privacy and accommodation, but also the employer’s right to enforce zero tolerance. 

 

Top of Page

 

 

The Increasing Visibility of Health & Safety

 

Construction and manufacturing sectors are very aware of the Occupational Health & Safety Act, however are you aware that the Industrial Regulations also apply to workplaces such as offices, retail operations, service businesses, arenas, some veterinary practices, and factories (manufacturing, assembly, cleaning, repairing, warehousing, refinishing, etc.)?

 

If your business is in Ontario, you employ people, or you work in Ontario, you are likely covered by the OHSA.  Exemptions to this general rule include:

  • Workplaces and jobs such as teachers, farms, emergency responders, personal work at private residences, and federally regulated workplaces.
  • Employment sectors that have their own regulations, including mining, farming, construction, and healthcare.

Our HR and H&S consultants have seen an increasing focus on Workplace Health and Safety, with some recent trends:

  • An increase in workplace harassment claims and investigations, as well as Ministry of Labour (MOL) orders regarding violence and harassment policies, procedures, and worker training.
  • The MOL is continuing its 2018/2019 initiatives including the focus on ergonomics in Municipal environments, and the implementation of the internal responsibility system in new and small businesses in the industrial sector.  Click here for more information.
  • In October the MOL is holding stakeholder consultations regarding their Safe At Work Ontario strategy.  Ward & Uptigrove Health & Safety specialist, Jennifer Goertzen, is attending a session, so look for a summary of the updates in our year end newsletter. 

To learn more about your responsibilities, how to maintain a safe workplace and comply with legislation, contact Jennifer at JenniferG@w-u.on.ca or 519-291-3040 ext. 708

 

Top of Page

 

 

Leadership Learning Program

 

This is our 20th time running this highly successful training program. The Leadership Learning Program is designed to give you and/or your employees the tools to lead and to supervise effectively. It covers leadership and self-awareness, productive time management, communicating for reduced conflict, coaching for engagement and developing high functioning teams.

 

Our fall series is just around the corner, and we only have a few spaces left!

  • Five consecutive Thursdays October 25, November 1, 8, 15, and 22, 2018 from 8:30 am to 12:30 pm
  • $995.00 + HST per participant

We’ll be running this session again in spring 2019 as well:

  • Five consecutive Thursdays April 4, 11, 18, 25, and May 2, 2019 from 8:30 am to 12:30 pm
  • Early bird discount: $925.00 + HST if you sign up & pay before January 31, 2019
  • $995 + HST per participant if you sign up after January 31, 2019

To register or get more information email us at hrresults@w-u.on.ca, call 519-291-3040 or visit wardanduptigrove.com/leadership

 

This series usually sells out so register early to guarantee your spot.

 

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Becoming a Dementia Friendly Practice

 

Ward & Uptigrove Wealth Management recently took steps to become a Dementia-Friendly Practice so that we can continue to offer exceptional and relevant lifelong service to our clients.

   

With advancing age, the risk of experiencing a change in cognitive function increases significantly and could adversely affect one’s ability to manage their finances and make decisions with full insight and understanding.   This could have unintended, devastating, and potentially irreversible consequences for both the individual and their loved ones.  

Our goal is to ensure we can maximize the rights of our clients to achieve their financial goals, make their own decisions and choices, without putting their financial and personal wellbeing at risk as a result of changing cognitive abilities. 

 

Ward & Uptigrove Wealth Management is committed to working proactively to address issues that have the potential to affect our clients’ financial goals, needs, and priorities.  

 

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What is a Power of Attorney?

 

A Power of Attorney is a legal document in which you entrust someone, known as your attorney, to hold the right to make decisions for you if you are no longer able to do so on your own. 

 

There are two types of Power of Attorney:

  1. Power of Attorney for Personal Care: A person you name that can make decisions about your healthcare, housing, and other aspects of your personal life if you become mentally incapable of making said decisions.  The person you choose as your power of attorney for personal care must be at least 16 years of age.
  2. Power of Attorney for Property: An individual that can make decisions about your financial affairs. The person you choose as your power of attorney for property must be at least 18 years old. 

Choosing your attorney for personal care
The person you decide to appoint as your attorney for personal care should be someone you trust to make decisions about your housing, food, health, safety, hygiene and clothing. This could be a family member or a close friend. It is important to consult with the person you hope to make your attorney and make sure that he or she is willing to take on this responsibility if needed.

 

Choosing Your Power of Attorney for Property

The person you choose should understand your wishes and agree to this important responsibility, which includes keeping detailed records of all transactions involving your money and assets. You may want to include a statement in your Power of Attorney that says the attorney can only make decisions if you become mentally incapable. 

 

Choosing a POA to make decisions regarding your property is a very important decision and needs a lot of careful thought. Therefore, it is essential to consider whether the person is willing to take on this responsibility if need be. There is a lot of work involved, and the law expects your attorney to meet very high standards. Consider whether the person is trustworthy, responsible and good at handling finances. Will the person make sure you have all the things you need? Will your privacy be respected? Can you trust the person not to misuse your money? These are just a few of the things you should consider before you decide.

 

Also, note that your attorney is entitled to take payment from your funds at a rate specified by law unless you say otherwise in your CPOA (Continuing Power of Attorney for Property). If you want to set the amount yourself, or you don’t want your attorney to be paid at all, you must include this in the document.

 

If your CPOA is silent on the matter of payment, your attorney will be entitled to:

  • 3% of money received;
  • 3% of money paid out on your behalf; and
  • 3/5 of 1% of the average annual value of your assets.

When Should You Start This Process?
There is no benefit to waiting.  Being young and healthy does not mean the unthinkable can’t happen.   Car accidents alone have, and can, lead to mental incapacity or at best a long hospital stay hindering your ability to contribute to any major financial decision.  


Talk to your advisor if you are looking to have a lawyer write your power of attorney. Consider this if your personal or business affairs are complicated.  Always store legal documents in a safe place. Make sure that your attorney, your bank and anyone else who needs to know about these documents has a copy or knows where to get one. The government does not keep a registry of powers of attorney.

 

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United Way Perth-Huron 2018 Campaign

 

On September 19, Ward & Uptigrove hosted a BBQ to help United Way Perth-Huron (UWPH) kick off their annual fundraising campaign and our workplace campaign. 

UWPH Campaign Co-Chair Martin Ritsma was on hand for the campaign goal announcement of $1,446,625, along with UWPH Executive Director Ryan Erb and North Perth Community Committee (NPCC) Chair Shelley Blackmore. The community and local dignitaries were also on hand to celebrate the number and show support for United Way’s efforts to overcome unignorable issues in the community, such as hunger and homelessness, youth mental health and social isolation, with local love.

In addition to the BBQ, we had 13 Partner, Principal and Manager nominees for an Ice Bucket Challenge.  Tied for the highest donation amount, Kris Uptigrove and Paul Hak were the fortunate winners of the ice water dump.

 

We thank all who came and donated, we were able to raise over $4,500 for United Way Perth-Huron.

 

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Client Communications and Email

 

We’ve always strived to provide value added information with our client newsletters and communications.   With the ever changing world of business and finance, we are moving to more timely digital communications such as more regular email newsletters, social media and website news sections.  

 

As almost all clients have email, our Newsletter will now be distributed digitally, so please ensure we have your correct email address. 

 

Our communications are often segmented by

  • Accounting News
  • Farming Matters
  • Human Resources Solutions
  • Wealth Management

All clients and subscribers receive our Newsletters.  If you would like to update your email preferences, please email info@w-u.on.ca or visit wardanduptigrove.com/subscribe

 

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Ward & Uptigrove’s New Online Presence

 

wardanduptigrove.com received a refresh!  Modern and simplified, clients can visit the website to read our communications in the News section, download Resources or see Events.

 

With our new website, we also entered into social media.  Like and follow us for timely updates on regulations changes, invitations, reminders, and team news. 

 

Ward & Uptigrove 

        

 

Ward & Uptigrove Wealth Management

    

 

Ward & Uptigrove HR Solutions

 

For an understanding of the things we are sharing, here are some of our top posts.

 

 

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Firm’s 60th anniversary

 

It was September 1958 when Jack Ward opened the first accounting firm in Listowel under the name J.C. Ward Chartered Accountant.   Now 60 years later, Ward & Uptigrove Chartered Professional Accountants currently has 8 partners and 7 principals and approximately 100 employees.  This team is dedicated to providing over 6,000 clients high quality service through three integrated entities:

  • Ward & Uptigrove Chartered Professional Accountants
  • Ward & Uptigrove Wealth Management
  • Ward & Uptigrove Human Resources Solutions

 

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