Canadians aren’t practicing financial fitness. It’s not their fault – transportation, mortgages and food costs have fallen victim to inflation at a year-over-year increase of 6.3 per cent in December 2022. And 47 per cent of Canadians said they have found themselves purchasing cheaper alternatives, brands or items. Meanwhile, over the last six months, more than…
How to Harness the HSA – The Complete Employer’s Guide
We’ve talked previously about the importance of offering benefits to your employees. Attract, retain, reward – that’s the name of the game. We also know what it’s like to be locked into a one-size-fits-all health benefits plan: they’re rigid, you don’t have complete control over your budget, and you might have to pre-fund benefits your…
How to Leverage a Group RRSP – The Complete Employer’s Guide
It’s time to talk about employee benefits – specifically, the group RRSP (registered retirement savings plan). You’re probably familiar with regular RRSPs – a tax-deductible retirement plan to which you and your spouse contribute. As an employer, you can offer group RRSPs to your employees. So how does it work? With a group RRSP,…
What is ePayroll: Examining the early stage of Canada’s ePayroll project
In the 2021 Federal Budget, the government set aside $43.9 million over three years for the first phase of the ePayroll project. The project aims to revamp how government agencies collect Canadian employers’ payroll, employment and demographic information. Currently, the project is in its nascent stage — the CRA is consulting, researching and prototyping a…
6 Year-End Payroll Tips for Canadian Small Business Owners
It’s that most wonderful time of the year – you’re ushering in the new year and now have to think about year-end payroll, remittances and tax documents. OK, we may have oversold it a bit. Year end can be stressful for business owners, bookkeepers and accountants – especially if this is your first. To ensure…
How to Handle Employee Resignations
It’s an unfortunate reality of business ownership: eventually, one of your employees will quit. Probably more than one. And this reality isn’t changing; an ADP survey from July 2022 found that 24 per cent of Canadian workers recently changed jobs. Plus, the percentage of retiring workers in Canada has grown by a third in the…
Don’t Let Burnout Ruin Your Small Business: 7 Tips to Avoid It
The seven essential tips to avoiding burnout as a small business owner.
Five Ways to Increase Diversity and Inclusivity
It’s true — diversity in the workplace is a complex topic. But there’s one key fact that cuts through the noise: a diverse workplace is a productive workplace. The research exists: diverse companies outperform their counterparts in innovation and productivity. Another study from 2017 found that companies with diverse management teams generate 19 per cent…
Jasey-Jay Anderson: Three Secrets for Olympic Gold, and a Successful Business.
Canadian snowboarder and Olympic gold medalist Jasey-Jay Anderson is turning his passion for competition into a business. Jasey-Jay Anderson spoke with our team at PaymentEvolution to provide insights on winning and achievement on an Olympic scale. Anderson is no stranger to success—the athlete remains Canada’s most decorated snowboarder, having won countless world championship competitions, including…
How to Open a Canada Revenue Agency Payroll Program Account
As a business owner in Canada, you are an employer and need a Canada Revenue Agency (CRA) payroll program account if you pay employees or yourself. You need that CRA payroll program account to deduct and submit your payroll remittances to the Canada Revenue Agency. Fortunately, setting up that payroll program account is a simple…
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