James D. Peros C.A. C.P.A

Management-  New WSIB Rules for Workplace Stress New legislation facilitates workplace stress claims.   The Canadian Centre for Occupational Health and Safety defines workplace stress as the “harmful physical and emotional responses that can happen when there is a conflict between job demands on the employee and the amount of control an employee has over meeting these demands.”   The growing recognition of the problem of workplace stress has led the Ontario government to pass the Stronger, Healthier Ontario Act (Budget Measures) 2017 last May that amended the Workplace Safety and Insurance Act, 1997 to entitle workers to benefits as a result of mental stress. These amendments are effective January 1, 2018. Most other provinces already have or are in the process of initiating legislation that recognizes how mental stress impacts workers.   WSIB Adds Two New Policies Since then, however, the Workplace Safety and Insurance Board (WSIB) of...

INVESTMENT-  Investing for Retirement   Saving for retirement can be approached in several ways. Media ads constantly bombard us with images of happy, attractive couples enjoying their retirement years on a sunny beach in Jamaica or on a cruise ship in the Mediterranean. But to reach that dream, it is necessary to invest today’s earnings so that they will grow into tomorrow’s retirement fund. Certainly, the earlier one starts a systematic investment program, the greater the probability that today’s fantasy will become tomorrow’s reality. Investing is more than just putting money in Guaranteed Investment Certificates or the stock market. From the start until you actually retire, you must keep reassessing your financial and other life circumstances to determine whether the strategy chosen yesterday is still valid today. Several approaches to investing are available but each is dependent upon your personality, your age and your life situation. Traders ...

TAXATION-  Changes to Income Tax Rules for 2017 Be aware of changes to the income tax rules that will affect your 2017 filing. For those already thinking about their 2017 income taxes, the following summarizes some of the changes from 2016.   Tax Credits The child tax credit for arts and fitness is gone. Since this tax credit was capped at a maximum of $500 for fitness and $250 for arts per child in 2016, its removal will not likely have a major impact on most people's 2017 return.   Education The tax credit for education and textbooks for full- or part-time students was eliminated effective December 31, 2016. Taxpayers with unused tax credits from 2016 or prior years will be able to carry them forward and apply them against future taxes. The tuition tax credit is, however, still in effect. In recognition of the need to support education in technical skills, the number of courses eligible for the tuition tax credit will be increased...