The interview is your time to shine. The following points will ensure you make the best impression:

  1. Be early. Nothing makes for a bad impression more than being late, except for maybe having your cell phone ring during the interview.
  2. Dress professionally. This is the time to bring out the iron and put on the suit.
  3. Be confident. It is okay to be nervous, but you need to be confident. Start with a firm handshake.
  4. Know about our firm. If you don’t know about us, then why do you think you would be a good fit? Hint… start with our website.
  5. Ask for clarification if you don’t understand the question. One of the key things we are testing for is active listening and communication skills. If you go off track, we won’t reel you back in.
  6. Provide personal examples in your responses. General responses won’t cut it. We need to hear examples of how you dealt with the situations we are inquiring about.
  7. Come with questions for us.

After a great interview, the last step is for our HR department to contact your references. Make sure you have told them to expect our call.

In this blog, we address what needs to be included on lists for the accounting for beneficiaries, and to prepare for probate.

Accounting for Beneficiaries

This private document, circulated to all the beneficiaries, describes bequests in the will, as well as other assets; and how they will be distributed. Personal clothing, household furnishings, etc. would not typically be listed unless specifically bequeathed. However, in case of a dispute, it’s important to make sure everything is recorded and split fairly; and for the executor to demonstrate that he/she has fulfilled their responsibilities, for the distribution of the estate assets and discharge of the liabilities.

Practically speaking, the executor would arrange for family/beneficiaries to meet, and to select items of sentimental value. The balance of the furnishings, clothing etc. could then be donated to charity such as the Salvation Army or Goodwill.

Included:

  • Assets listed in the will
  • Contents of the house
  • Contents of the safety deposit box
  • All financial assets and insurance policies
  • Vehicles
  • Real estate

Note:  It is a good idea (although not mandatory) to have beneficiaries “sign off” or approve of the accounting at various times during the process of settling the estate.

You may also need to:

  • Determine the names and addresses of those beneficially entitled to the estate property and notify them of their interests.
  • Inform any joint tenancy beneficiaries of the death of the deceased person.
  • Inform any designated beneficiaries of their interests under life insurance, or other property passing outside the will.
  • Administer any continuing testamentary trusts or trusts for minors.
  • Prepare the financial statements, a proposed compensation and final distribution schedules.
  • Distribute the estate property in accordance with the will.

Obligations and Liabilities for Probate Documents

This list goes to a lawyer who will submit assets and liabilities to the court, to ensure the protection of the executors. When a grant of probate is issued (proving the validity of the will by the Court), executors take “possession” of the Deceased’s assets on behalf of the estate, with the authority to distribute it, in accordance with the will and the laws of Alberta*.

  • Included:
    • All assignments in the will
    • Typically, assets that are left to the estate, not already designated to a beneficiary
    • Real Estate - Tenant in common
    • Financial liabilities:
      • Mortgages, loans, outstanding debts, credit card debt, and income taxes

Since executors are responsible for paying outstanding debts, you may need to advertise for claimants, check all claims and finalize the amount payable; and then make payments as funds become available.

  • Excluded:
    • Certain properties such as RRSP, RRIF, TFSA and life insurance, which can name a designated beneficiary, will transfer to the beneficiary (without the executor taking “possession” of them and administering them)
    • Real estate – joint tenant**

This usually applies to real estate but can also apply to bank accounts, and other types of properties.

Note: The final distribution of the estate may take up to two years in order for any unknown claimants’ rights to be statute barred (a legal action that cannot be brought to court because too much time has passed).

* What needs to be listed on probate documents submitted in Alberta will be different than those in Ontario, as probate is specific to each provincial jurisdiction. If properties are owned in another province - like BC - the Alberta probate documents will not list the BC property.  Probate documents would need to be filed for the BC property in BC.

**Assets held by Joint Tenancy would be excluded from the probate documents whereas assets held as Tenants in Common would be included.

Please let us know how we can assist you.

On April 16, 2024, the Deputy Prime Minister and Finance Minister, the Honourable Chrystia Freeland, presented Budget 2024 – Fairness for Every Generation, to the House of Commons.  No changes were made to personal or corporate tax rates.  Please see the following document for the complete details: 2024 Federal Budget Commentary

 The Role of the Executor

The responsibilities of an executor start within 24 hours of someone’s passing and can continue for months (for a straightforward estate), to years (for more complex estates involving real estate, out-of-country assets or the will is contested). Here is a step-by-step guide to help you know where to begin and what to do next:

  1. Locate the will

This can present some challenges, particularly if you don’t know where the will is kept. If you can’t find it, you can approach the deceased’s lawyer, but if some time has passed, many law firms don’t keep them on file.

Many people keep their will in a safety deposit box at the bank, and access to it will vary depending on the institution. Once you provide the bank with evidence that the person has passed away (such as a death certificate); the key to the safety deposit box, and your ID to prove who you are, the bank can do an inventory of the contents, and tell you if the will is in there. You cannot personally access the contents.

  1. Plan the funeral

Get in touch with the funeral home whose staff can guide you through arrangements for burial or cremation. Hopefully the deceased has been clear about his or her wishes, including their preference of service or memorial to guide you in your decisions.

The funeral director will likely need to see a copy of the will to confirm who has authorization to make the funeral arrangements, and information to register the death:

  • Full name and name at birth
  • Date and place of birth
  • Physical address
  • Marital status
  • Name of spouse (and maiden name)
  • Father's name and place of birth
  • Mother's name (and maiden name) and place of birth
  • Occupation and type of business
  • Name, address and phone number of person responsible for making arrangements.

The home will issue a death certificate or a Funeral Director’s Statement of Death. Be sure to ask for multiple copies, which you will need to forward to financial institutions, insurers, and government agencies, as you settle the estate. (See below).

3. Inform appropriate parties

To protect the deceased person’s name from identity theft, organizations such as:

  • Banks, lending institutions, and credit card companies
  • Legal and accounting firms
  • Government agencies - Canada Pension Plan, Old Age Security, Motor Vehicles, Veterans’ Affairs, Medical Service Plans, etc.
  • Insurers
  • Employers about payroll and benefits
  • Utility companies
  • Email addresses, online memberships and social media

All will require a copy of the death certificate or the Funeral Director’s Statement of Death copy, and a copy of the probated will when it’s available.

Note: Once a bank is informed, all accounts only in the deceased’s name will be frozen, and their credit cards cancelled. Those with joint accounts can still access their funds.

  1. Take inventory

Make a list of the assets and obligations of the deceased, for the lawyer dealing with probate of the will, and the accounting firm doing the final tax return.

One of the best gifts you can give your heirs is to be organized with a detailed list of all your financial affairs: your assets and their original costs, insurance policies, bank accounts, loans, real estate, etc. - and remember to keep it up to date.

  1. Probate the will

Probate is the process of proving, in court, that a deceased person’s will is the final valid will and testament, the assets and obligations are true and correct, and the executor is authorized to administer the terms of the will. Depending on the jurisdiction, this process can take anywhere from a few days to a few months.

Financial institutions and insurance companies need a certified copy of the probated will to ensure they are authorized to release any funds to appropriate people. Remember to ask for enough copies for all the organizations that require a copy for their files.

Once the probate documents are received, the executor can open an estate account, into which monies from the disposal of the deceased’s worldly goods are deposited – and then distributed to heirs, once the estate is settled. To set up the account, the bank will need the complete names and addresses of all beneficiaries, as well as their social insurance numbers. In a future blog, we’ll take a more in-depth look at the probate process.

  1. Prepare the final tax return

The executor is responsible to the Canada Revenue Agency (CRA) to make sure the taxes of the deceased are paid, or will be personally liable. To make sure the return is done correctly we recommend that an accounting firm help to prepare the taxes, and to file the return. The executor then arranges for payment of any taxes owed.

If the estate earns any income and depending on the types of assets (such as real estate holdings), other types of final returns, such as a Rights and Things, and Trust income tax return, may also be required. If applicable, estate or trust returns are filed after the terminal and/or Rights and Things returns.

At this point, the executor typically provides a list of assets, taxes triggered and paid, and liabilities paid out (such as credit card debt or mortgages), to the beneficiaries for sign off, before any distribution is done. This ensures monies are not paid out before any dispute is settled.

  1. Distribute the assets

Depending on the size of the estate and the amount of taxes owed, a partial distribution of assets to the beneficiaries can be done. Some monies should be held, however, just in case further taxes are owed (since an executor is personally liable for any unpaid taxes). Once CRA has issued a final Notice of Assessment, the executor can apply for a Clearance Certificate, and complete the distribution.

A Plan of Distribution is then filed with CRA, and the estate is wound up.

The bottom line

If you are asked to be an executor, it’s important to know that this is a serious social and a legal responsibility. If you agree, ask for a copy of the will when it is prepared, make sure you know where all documentation is kept, and talk to your friend or family member about their wishes.

If you are choosing an executor pick someone who is capable, trustworthy, and able to fulfill his or her responsibilities.

Need help?

There’s no doubt that the duties and responsibilities of an executor can be complex and overwhelming – and often take much longer than anticipated. Some tasks can be delegated to other family members, and there are professionals – such as lawyers and trustees who can help. Both usually charge a percentage of the estate, so always ask for an estimate before you begin.

At Pivotal CPA we are experienced in working closely with executors and lawyers to prepare the list of asset values for probate documents and accounting for beneficiaries, filing income tax returns, and applying for the clearance certificate. We can also help to manage money, pay bills, and disburse funds. Most importantly, we can help people with estate planning, to ensure their affairs are in order before they die. Please let us know how we can help you.

Our firm’s mission is “to positively impact the success of our clients, staff and community in a pivotal way.” That success can be impacted in many ways, not all of which are necessarily related to accounting services and tax planning. To that end, we’ve launched Pivotal’s Picks, to showcase some of our favorite tools, products, services, apps, and so on.

DISCLAIMER: Our firm will never accept requests from companies to have their products included in Pivotal’s Picks and will never receive any compensation for these picks either before or after the fact. They are simply tools that we’ve found are a good fit for our organization, and we think you should consider for yours. We hope you find a gem! Now on to our first pick: BambooHR.

What Problems Were We Encountering?

With an increasing number of staff, our Human Resources management was getting more complicated and very time-consuming, more specifically:

  • Managing everyone’s time off schedules and recording the details in all the necessary places required too many steps.
  • Overseeing our training curriculum was complicated; who had taken what, who needed what, did people need a refresher on something they had taken previously, how did people get the right training to move up in the organization, etc.?
  • The client service side of our business had embraced paperless document management tools a number of years ago, but the internal administration side was still quite heavily paper-reliant. It was time to banish the paper storm for a digital solution.
  • Our regular feedback cycles and annual review processes were based on a framework that hadn’t been updated in many years. These items were mentioned frequently when we polled our team on what they found most frustrating about their jobs, so we knew they needed attention.
  • Goal setting for everyone in the firm is an important component of supporting our firm’s Accountability core value. The problem was the recording, scheduling, updating, and measuring the success of each person’s numerous goals.
  • Our dedicated HR Professional had moved on to pursue another opportunity and her responsibilities had been distributed out among a few other staff members rather than replacing her. This placed significant time pressures on those other staff members who already had full time responsibilities of their own.

How Did We Locate Potential Solutions?

Our firm was a member of an association of independent public accounting firms throughout North America, so we started by asking that network for suggestions. BambooHR was the most frequently mentioned solution and was already being used by a number of other firms in the association. What better way to enhance the successes and avoid the pitfalls than to be able to rely on your peers who have already experienced things first hand?

We also asked for recommendations from HR Professionals in our personal networks, since they would have the most experience with such systems. And finally, we did research across the web to see which platforms were available and which came highly recommended.

The alternatives were shortlisted and a live demonstration of each of the top six products was scheduled so we could see the platforms, tools, and interfaces in action for ourselves.

What Were the Most Important Factors to Consider?

  • Security of Personal Information: Human Resources deals with the most private and personal of information, and such data simply must be secured.
  • User Friendly Interface: One of the frequent complaints about our performance management system was that it was unwieldy. We knew that our new solution could not be that way. It had to be friendly for all of us to use or we’d just end up with no one using the new system either.
  • Pricing and Contract Requirements: We were looking for an option that would allow us to recognize some cost savings by licensing on a per-user basis and not requiring an annual contract for a pre-set block of users. Obviously we also wanted to find a solution that was fair in its licensing costs, with an appropriate feature set for the cost being charged.
  • Digital Only Solution: One of the biggest problems with the old system was the paper storm and all the documents moving around the office. The new solution had to be electronic only and remove the administrative hurdles that were taking so much of our time.
  • Anytime Anywhere Accessibility: With our team members having such varied schedules and facing the demands of the modern world of work, we needed a solution that could be available to everyone in our organization at all times, regardless of where they were or when they were able to accomplish their work.

Which of the Available Options Did We Select?

BambooHR (https://www.bamboohr.com/) got the nod from our evaluation team.

The Nitty-Gritty:

Features

BambooHR dramatically reduced the amount of administrative time it was taking to cover off the many HR requirements associated with running our organization. Here are some examples of how it has positively impacted the success of our firm:

  • We’ve replaced our old filing cabinet full of employee records with the secure online database in BambooHR. Personal details, job details, training info, and benefits tracking all safe, secure, and accessible from anywhere at any time.
  • Our job postings are run through BambooHR now and we use the applicant tracking tools to sift through and find the best candidates. We can see at a glance which resources are providing the best candidates and focus our attention on those so we get the most bang for our buck.
  • New hires receive an onboarding package electronically before they start with us, so they don’t need to spend that boring first day that comes with any new job, filling out all the personnel forms and reading all the policies. Instead, they dive right in and get to work with their new colleagues.
  • Onboarding and off-boarding templates have been designed so everyone involved remembers all the steps necessary to add new staff members or remove those who have moved on.
  • Time off requests are handled either through the website or the handy mobile app that lets people make requests with a few taps on their smartphones and lets managers approve them in the same way. Time off balances are tracked and visible to staff and managers for complete clarity at all times. Balances show the current amount, and also any time already scheduled for the future. There is a great calculator feature that will let staff and managers see how much time someone will have available at a given date in the future. The time off calendar shows everyone who’s in and who’s out on any given day. As an added plus, it also keeps track of celebrations like birthdays and employment anniversaries for that personal touch.
  • BambooHR has a number of useful reports built right into the system and we’ve designed many of our own through the user-friendly report writer. Point-and-click to select the fields you want and just like that, there’s your report.
  • Our internal HR paperwork now runs through the electronic signature tools in BambooHR, meaning we don’t need to distribute paper forms to anyone anymore. Documents can even be completed and signed on a mobile device if the staff member is away.
  • There are a few standard Access Levels but additional Custom levels can be created if necessary. It is very easy to set up so anyone in any role can see exactly what they need but nothing more. HR Administrators can even see what BambooHR will look like for a given user by accessing a Preview as This User option so they can be sure things are set exactly right.
  • Asset tracking has been added to our implementation so we can track everything from who has been assigned which equipment, to when someone has borrowed a portable scanner for fieldwork, or even when someone has signed out one of the business books from our extensive Leadership Library. (As an aside, our Leadership Library is pretty awesome, if we do say so ourselves – we’d even be happy to lend you a book if you’d like!)
  • Employee Experience tools help us understand what matters most to our team members and survey them to evaluate their satisfaction and wellbeing, what is providing a great employee experience, or what is lacking and needs some work.
  • The built in Help resources guide you step-by-step through problem resolutions, Bamboo’s Support Heroes (as they are called) are very helpful and respond quickly to queries (often same day), there are lots of webinars (both live and pre-recorded) to demonstrate the many components, monthly video updates are provided to spotlight any changes or new features they have added, and all points of contact at BambooHR really do seem to love their jobs. Every message ends with a cheery “Happy Bamboo-ing!”

Pricing

  • There are three different flavours of BambooHR, the basic Core version, the middle Advantage version, and the full-featured Pro version. Our firm uses the Advantage version, which includes more advanced features like Hiring & Onboarding as well as the integrations with other products. There are also add-ons that can take care of things like Performance Management and Time Tracking.
  • Monthly billing plans are very flexible, only charging for the number of users each month. As we spin up more staff members during busy season we are charged more and when they leave we are charged less. No need to contact anyone at BambooHR to make the changes; it’s all self-serve – add and remove people whenever you need. The service has no contract period and can be cancelled at any time.

Implementation & Timeline

  • BambooHR assigned us one of their own Implementation Project Managers to assist with the initial setup process and ours was great! She guided our implementation team through the set up stages with regular phone calls, dealt with all our questions, handled much of the data importing, and got us rolling very smoothly. Tt was one of the smoothest implementations we’ve ever done.
  • The timeline from making our decision, through the implementation project, to the live rollout to all our staff took about two months. That was comprised of five weeks working with our assigned Implementation Project Manager and three weeks of getting ourselves organized so we understood everything, preparing the training documentation to share with the staff, and scheduling training sessions so everyone in the firm could attend. Given the importance that BambooHR was going to play in our firm’s HR management, it was mandatory that everyone in the organization attend a session to get up to speed.

Final Thoughts

We’d be happy to share our story with you if you’d like more information. Of course, you may also want to visit their website at https://www.bamboohr.com/ for all the details. If you don’t want to take our word for it, you can even try out BambooHR with a free trial if you would like to dive in yourself and see what you think.

Canada is known for its strong tradition of philanthropy, and the government encourages charitable giving by offering various tax incentives to individuals and corporations. One powerful strategy for optimizing your charitable contributions while minimizing your tax liability is to donate preferred shares of a Canadian Controlled Private Corporation (CCPC) to a registered charity. In this blog post, we'll explore the tax benefits and implications of this strategy, helping you make informed decisions about your charitable giving.

Understanding Preferred Shares and CCPCs

Before delving into the tax benefits, it's essential to understand the key elements involved in this strategy:

  1. Preferred Shares: Preferred shares are a type of equity ownership in a corporation. They offer certain advantages, such as priority in receiving dividends and assets in the event of liquidation. These shares are different from common shares, which typically have voting rights but may not receive dividends.
  2. Canadian Controlled Private Corporation (CCPC): A CCPC is a private corporation that meets specific Canadian ownership and business activity requirements. To qualify as a CCPC, the corporation must be resident in Canada, have at least 50% of its assets used primarily in an active business carried on in Canada, and be owned by Canadian residents or certain trusts.

The Tax Benefits of Donating Preferred Shares

  1. Capital Gains Exemption: One of the most significant tax advantages of donating preferred shares of a CCPC is the potential to eliminate the capital gains tax on their disposition. When you donate such shares to a registered charity, you are deemed to have disposed of them at their fair market value. Under the Canadian tax system, if you or your spouse has not used the lifetime capital gains exemption (for qualified small business corporation shares), you can claim this exemption and reduce your taxable capital gain to zero.
  2. Charitable Donation Tax Credit: The donation of preferred shares to a registered charity qualifies you for a charitable donation tax credit. The credit is based on the fair market value of the shares at the time of the donation. Depending on your province of residence and the total amount of your charitable donations for the year, you could receive a credit of up to 50% of your donation.
  3. Elimination of Accrued Dividends: When you donate preferred shares to a charity, any accrued but unpaid dividends on those shares are deemed to be paid, and you will not be liable for tax on those dividends. This can further reduce your overall tax liability.
  4. Enhanced Deduction Limits: Donating shares of a CCPC can result in enhanced deduction limits for charitable donations. The government provides additional incentives for gifts of certain types of property, including publicly traded securities and certain shares of private corporations, such as preferred shares of a CCPC.

Considerations and Limitations

While the tax benefits of donating preferred shares of a CCPC to a registered charity are significant, there are some important considerations and limitations:

  1. Eligibility of the Charity: Ensure that the charity you intend to donate to is registered with the Canada Revenue Agency (CRA). Only donations to registered charities are eligible for the charitable donation tax credit.
  2. Fair Market Value: The fair market value of the preferred shares must be determined accurately at the time of the donation. A qualified appraiser may be necessary for this purpose.
  3. Complexity: This strategy can be complex and requires careful planning and professional advice to ensure compliance with tax laws and regulations.
  4. Lifetime Capital Gains Exemption Limit: Be mindful of the lifetime capital gains exemption limit, as it may impact the tax benefit you can receive.

Donating preferred shares of a Canadian Controlled Private Corporation to a registered charity is a strategic and tax-efficient way to support charitable causes while maximizing your personal tax benefits. This strategy can help you reduce or even eliminate capital gains taxes, benefit from charitable donation tax credits, and eliminate tax liabilities on accrued dividends. However, it's essential to consult with tax professionals or financial advisors who specialize in charitable giving and taxation to ensure that this strategy aligns with your financial goals and circumstances. By leveraging the tax incentives offered by the Canadian government, you can make a meaningful impact on charitable organizations while optimizing your personal finances.

CPP Benefits

Canada Pension Plan (CPP) provides disability benefits to people who have made enough contributions to the CPP and who are disabled and cannot work at any job on a regular basis. Benefits may also be available to their dependent children.

  • To qualify for a disability benefit under the Canada Pension Plan (CPP):
    • A disability must be both "severe" and "prolonged", and it must prevent you from being able to work at any job on a regular basis.
      • Severe means that you have a mental or physical disability that regularly stops you from doing any type of substantially gainful work.
      • Prolonged means that your disability is long-term and of indefinite duration or is likely to result in death.
    • Be under the age of 65 and
    • Meet the CPP contribution requirements. To qualify for a CPP disability benefit you must have contributed to the CPP in:
      • Four of the last six years, or
      • Three of the last six years if you have contributed for at least 25 years.
  • How much could you receive:
    • For 2023, the average monthly CPP disability benefit is $1,127.30 and the maximum monthly amount is $1,606.78. You will receive the basic monthly amount fixed for all recipients, plus an amount based on how much you contributed to the CPP during your entire working career.
    • If you are receiving a CPP disability benefit, your dependent children may also be eligible for a children's benefit. In 2023, the flat monthly rate your child can receive is $281.72.

Workers Compensation Benefits (WCB)

WCB is here to help when an injury occurs at work. A workplace injury can be difficult and stressful for everyone involved. Workers' compensation insurance is no-fault insurance providing:

  • Medical and return-to-work support services. Your injured workers will have access to the appropriate medical services to help them safely return to work. This includes chiropractic treatments, physiotherapy, counselling, etc.
  • Protection against loss of income. Compensation for lost wages is based on 90 per cent of the worker's net earnings or income. In 2023, the maximum is $102,100., based on gross annual earnings.
  • Lawsuit protection. This includes protection for you, your workers and other parties covered by WCB. (If you're incorporated, the directors must carry optional personal coverage to be protected from lawsuit. Personal coverage provides you with access to the same benefits and services available through workers' compensation insurance.)
  • Effective Jan. 1, 2016, waged farm workers in Alberta are protected under the workers' compensation system.
    • If you are injured at work, this means you will have access to the benefits and services available under the Workers' Compensation Act. This includes replacing lost wages resulting from your injury, as well as providing medical and rehabilitation support to help you recover and return to work safely.
    • Coverage for farm and ranch owners, family members of owners, and non-waged workers is optional.
    • Industry classifications set the stage for rate setting. All employers are classified into industries to help us accurately set premiums.
    • You're classified in an industry with other employers who have similar businesses and risks as you do, rather than by the occupations of your employees. Premium rates are then set for your industry classification. The rates vary from industry to industry, reflecting the loss experience for each group.
    • When developing these industry descriptions, we consult with business and industry representatives. Although we've tried to include all of the activities within an industry, the descriptions may not list every process or activity. We've classified employers in industries that we think best reflect their overall business. Rates – 2.75 to 2.97.

Blue Cross

  • How are my benefits calculated? The payable WI (Weekly indemnity) benefit amount is usually based on a portion of the salary you were earning immediately before you stopped working. The method used to calculate your WI benefit amount is outlined in your employee benefits booklet.
  • The payable LTD benefit amount is based on a portion of the earnings you were receiving before your disability began and will commence following an elimination period as outlined in your employee booklet. This amount may be reduced by other sources of income as defined by the group policy. Examples of primary deductions are benefits payable under Worker’s Compensation or Canada/Quebec Disability Benefits (CPP/QPP).
  • LTD benefits or waiver of premium benefits typically have a maximum benefit period based on age. Unless otherwise specified under your group policy, the termination age is typically 65.

Chambers of Commerce Group Insurance Plan

  • Comprehensive Protection: Short Term & Long Term Disability Insurance.
    • Disability insurance, whether short or long term, gives employees a financial cushion in the event they become disabled due to an injury or illness and are unable to work for a period of time. Although Health insurance will typically cover the costs of treating an injury or illness, most people will have a difficult time paying for basic necessities if they aren't able to work.
  • Short Term Disability Insurance (Weekly Indemnity) We understand that each of our clients has a different budget and unique needs. You will be able to decide how long your employees must be off work before they may begin to collect benefits, and how long they may collect benefits. For employees under age 65, Short Term Disability insurance benefits represent 66 2/3% of their gross income to a maximum of $1,200 per week.
  • Long Term Disability (LTD) Insurance Insuring employees for the long term, LTD coverage can help provide financial security so a disabled employee can focus on recovery and returning to work. Chambers Plan LTD benefits provide employees with:
    • Up to $7,000 per month.
    • Benefits for 2 or 5 years, or until age 65.
    • Guaranteed coverage to groups with 3 or more employees (non-evidence limits vary from $1,200 to $3,000).

There are many fraud types and new ones are invented daily. Some are imaginative, some are aggressive, and some appear legitimate!

Be vigilant if you receive, either by telephone, mail, text message or email, a communication that claims to be from the Canada Revenue Agency (CRA) requesting personal information such as a social insurance number, credit card number, bank account number, or passport number.

These scams may insist that this personal information is needed so that you can receive a refund or a benefit payment. Cases of fraudulent communication could also involve threatening or coercive language attempting to scare you into paying a fictitious debt to the CRA. Other communications may urge you to visit a fake CRA website where you are then asked to verify your identity by entering personal information. These are scams and you should never respond to these fraudulent communications or click on any of the links provided.

Canada Revenue Agency will never:

  • Send emails with a link and ask you to divulge personal or financial information;
  • Ask for personal information of any kind by email or text message;
  • Request payments by prepaid credit cards;
  • Give taxpayer information to another person, unless formal authorization is provided by you;
  • Leave personal information in a voice mail;
  • Threaten, or use nasty language.

If you are in doubt about the validity of a communication claiming to be from the CRA, don’t panic! Ask your accountant to verify the information given, or call CRA at 1-800-959-8281 (individuals) or 1-800-959-5525 (business accounts) to verify. Don’t call the number displayed as it may be fraudulent.

If the communication is a scam, you can report it to the Canadian Anti-Fraud Centre online, or by calling 1-888-495-8501.

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