Anglais

Your tax bill could change in 2019. Here’s what to expect.

Published

5 années ago

décembre 31, 2018

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A whole host of federal tax changes come into effect in the new year. Some will hit your paycheque, others your bills — and if you’re a small business owner, there are a couple of changes coming for which you’ve likely been preparing for months.

Starting in January, Canadians’ Canada Pension Plan contributions increase from 4.95 per cent to 5.1 per cent on earnings between $3,500 and $57,400. It’s the first of five years of graduated increases running until 2023, when the rate will reach 5.95 per cent.

The increases are going to pay for what eventually will be an enhanced CPP. The Quebec Pension Plan will see similar changes.

« You can think of it as a cost right now, but you’re actually going to be contributing toward an enhanced Canada Pension Plan benefit over time, ultimately leading to a higher amount of pensionable earnings, » said Jamie Golombek, managing director of tax and estate planning with CIBC.

« So you’re actually going to get something in return for that extra contribution. »

Partially offsetting that increased CPP contribution on your paycheque will be a drop in Employment Insurance premiums, from $1.66 to $1.62 per $100 of insurable earnings.

2019 also will be the first tax year when low income workers can qualify for a more generous Canada Workers Benefit, a program intended to help the working poor stay employed.

The maximum benefit will increase by between $300 and $400, based on whether the applicant is single or part of a family. That brings the maximum benefits to $1,355 for a single person or $2,335 for a single parent or couple, depending on personal incomes.

However, as 2019 is the eligibility year, low income workers will have to wait until 2020 to get the boosted benefit.

Experts say more than half of Canadians who live in poverty are working.

« Gone is this idea, I hope … that people live in poverty because they just need to find a job, they need to pull up their boot straps and get off their couch, » said Michele Bliss of the non-profit advocacy group Canada Without Poverty. « That idea is so antiquated. »

Small business tax changes

One of the big news stories of the past year and half has been the changes the federal government is making to small business taxes. The most controversial change affects the rules on how much passive income an incorporated small business can hold.

Passive income is money earned in interest on funds that sit idle within an incorporated business, without being reinvested or used to cover operating expenses. As of January 1, business owners can hold up to $50,000 in passive income before they start to lose access to the advantageous small business tax rate.

Small businesses pay a relatively low tax rate — currently 10 per cent — on the first $500,000 of business earnings. But staring in January, if those businesses hold in excess of the new limit on passive income, some of that first half-million in earnings will be subjected to the much higher corporate rate, depending on how far over the new limit they are.

The federal government’s goal is to encourage business owners to reinvest their passive earnings into their businesses, or into hiring more people, rather than sitting on the cash.

« I think a lot of small businesses are still unaware that some of the changes are coming, » said Dan Kelly, president of the Canadian Federation of Independent Business.

« In fact, that’s one of my biggest worries. I think a lot of firms are sitting ducks for the Canada Revenue Agency. »

However, the small business tax rate is going down from 10 to 9 per cent in 2019 — a move long promised by the Liberal government, one that many saw as an attempt to placate a small business community angered by the passive income changes.

« But the passive investment increases are going to eclipse any reduction in taxes that a small business might feel, » said Kelly.

Still, the federal government estimates the average small business — one that has eligible business income of $107,000 — will keep an extra $1,600 per year after the cut.

And for some really small businesses — especially those not incorporated and with no passive income to worry about — that tax cut will be very welcome.

« 2018 was actually one of the toughest years we’ve had. We sell a niche product that’s been copied and is now sold in box stores. So we’re competing with a lot of big businesses here, » said Katrina Barclay of Malenka Originals in Ottawa. Her store refurbishes outdated furniture with a special chalk paint.

« At the end of the day, at the end of the month, if there’s a little bit of extra money left over that we can reinvest into the business, then it definitely helps. »

Higher prices at the pump

Possibly the most politically charged tax change coming in 2019 is Ottawa’s new carbon pricing system. In jurisdictions that don’t have carbon pricing mechanisms of their own, Ottawa will levy a tax on fossil fuels of $20 per tonne of greenhouse gas emissions starting in the new year, rising by $10 each year to $50 a tonne by 2022.

Emissions over set limits from large, industrial emitters in provinces without carbon pricing systems will fall under the federal governments carbon pricing rules starting in January. For consumers, the cost of fossil fuels and the services they support will start going up in April.

The government estimates that, once the carbon tax is in place in the provinces where it will be imposed, the cost of a litre of gasoline will go up 4.42 cents, natural gas will go up 3.91 cents per cubic metre and propane will go up 3.10 cents a litre.

People in those provinces will get direct rebates to offset the increased costs. The amount will vary based on the province and the number of people in the household. In Ontario, for example, the rebate for the average household (defined as 2.6 people) would be about $300 a year, or about $248 in New Brunswick, or $336 in Manitoba, or $598 in Saskatchewan.

« I think the government has designed this system in a way that will prevent us from getting a big ding from the carbon pricing system, » said Nick Rivers, Canada Research Chair in Climate and Energy Policy at the University of Ottawa.

In Yukon and Nunavut, consumers will see the cost of fossil fuels rise due to carbon pricing — but because the territories themselves are adopting the federal system, the revenue will go to the territorial governments, not to individual households.

Other tax and price changes coming:

Postage stamp prices are set to increase.

Many personal income tax credit and benefit amounts are being indexed to inflation:

The basic personal amount rises to $12,069
The annual contribution limit to tax-free savings accounts will increase to $6,000 from $5,500

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Anglais

Nostalgia and much more with Starburst XXXtreme

Published

3 années ago

août 10, 2021

admin

Get a taste of adventure with Starburst XXXtreme based on the legendary NetEnt Game. The nostalgic themes are sure to capture fans of the classic version as they get treated to higher intensity, better visuals, and features. The most significant element of the game is its volatility. Patience will not be an essential virtue considering the insane gameplay, and there is a lot of win potential involved. It retains the original makeup of the previous game while adding a healthy dose of adrenaline.

Starburst Visuals and Symbols

The game is definitely more conspicuous than before. The setting happens over a 5-reel, 3-row game grid with nine fixed win lines, which function if a succession from the left to the right reel is present. Only those players that that attain the highest win per bet line are paid. From a visual standpoint, the Starburst XXXtreme slots illustrates lightning effects behind the reels, which is not surprising as it is inherited from the original version. Available themes include Classic, Jewels, and Space. The game is also available in both desktop and mobile versions, which is advantageous for players considering the global pandemic. According to Techguide, American gamers are increasingly having more engaging gaming experiences to socialize to fill the gap of in-person interaction. Starburst XXXtreme allows them to fill the social void at a time when there is so much time to be had indoors.

Starburst XXXTreme Features

Players get to alternate on three features which are Starburst Wilds, XXXtreme Spins, and Random Wilds. The first appears on reels 2,3, or 4. When these land, they expand to cover all positions while also calculating the wins. They are also locked for a respin. If a new one hits, it also becomes locked while awarding another respin. Starburst XXXtreme offers a choice between two scenarios for a higher stake. In one scenario with a ten times stake, the Starburst Wild is set on random on reels 2,3, or 4, and a multiplier starts the respin. The second scenario, which has a 95 times stake, starts with two guaranteed starburst wilds on reels 2,3, or 4. it also plays out using respin game sequence and features. The game also increases the potential with the Random Wilds feature to add Starburst Wilds to a vacant reel at the end of a spin. Every Starburst Wild gives a random multiplier with potential wins of x2, x3, x5, x10, x25, x50, x100, or even x150.

The new feature is sure to be a big hit with the gaming market as online gambling has shown significant growth during the lockdown. AdAge indicates the current casino customer base is an estimated one in five Americans, so Starburst XXXtreme’s additional features will achieve considerable popularity.

What We Think About The Game

The gambling market has continued to diversify post-pandemic, so it is one of the most opportune times to release an online casino-based game. Thankfully Starburst XXXtreme features eye-catching visuals, including the jewels and space themes. These attract audience participation and make the gameplay inviting. The game also has a nostalgic edge. The previous NetEnt iteration featured similar visuals and gameplay, so the audience has some familiarity with it. The producers have revamped this version by tweaking the features to improve the volatility and engagement.

That is characterized by the potential win cap of 200,000 times the bet. Starburst XXXtreme does not just give betting alternatives for players that want to go big. The increase of multipliers also provides a great experience. If the respins in the previous version were great, knowing that multipliers can go hundreds of times overtakes the game to a new level.

Players should get excited about this offering. All of the features can be triggered within a single spin. Whether one plays the standard game or takes the XXXtreme spin route, it is possible to activate all of the features. Of course, the potential 200,000 times potential is a huge carrot. However, the bet size is probably going to be restricted and vary depending on the casino. It is also worth pointing out that a malfunction during the gameplay will void all of the payouts and progress. Overall, the game itself has been designed to provide a capped win of 200,000 times the original bet.

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Anglais

‘We’re back’: Montreal festival promoters happy to return but looking to next year

Published

3 années ago

juillet 23, 2021

admin

In downtown Montreal, it’s festival season.

In the city’s entertainment district, a musical act was conducting a sound check on stage Friday evening — the second day of the French-language version of the renowned Just For Laughs comedy festival. Tickets for many of the festival’s free outdoor shows — limited by COVID-19 regulations — were sold out.

Two blocks away, more than 100 people were watching an acoustic performance by the Isaac Neto Trio — part of the last weekend of the Festival International Nuits d’Afrique, a celebration of music from the African continent and the African diaspora.

With COVID-19 restrictions continuing to limit capacity, festival organizers say they’re glad to be back but looking forward to next year when they hope border restrictions and capacity limits won’t affect their plans.

Charles Décarie, Just For Laughs’ CEO and president, said this is a “transition year.”

“Even though we have major constraints from the public health group in Montreal, we’ve managed to design a festival that can navigate through those constraints,” Décarie said.

The French-language Juste pour rire festival began on July 15 and is followed by the English-language festival until July 31.

When planning began in February and March, Décarie said, organizers came up with a variety of scenarios for different crowd sizes, ranging from no spectators to 50 per cent of usual capacity.

“You’ve got to build scenarios,” he said. “You do have to plan a little bit more than usual because you have to have alternatives.”

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Anglais

MELS new major movie studio to be built in Montreal

Published

3 années ago

juillet 23, 2021

admin

MONTREAL — MELS Studios will build a new film studio in Montreal, filling some of the gap in supply to meet the demand of Hollywood productions.

MELS president Martin Carrier said on Friday that MELS 4 studio construction will begin « as soon as possible », either in the fall or winter of next year. The studio could host productions as early as spring 2023.

The total investment for the project is $76 million, with the Quebec government contributing a $25 million loan. The project will create 110 jobs, according to the company.

The TVA Group subsidiary’s project will enable it to stand out « even more » internationally, according to Quebecor president and CEO Pierre Karl Péladeau. In the past, MELS Studios has hosted several major productions, including chapters of the X-Men franchise. The next Transformers movie is shooting this summer in Montreal.

Péladeau insisted that local cultural productions would also benefit from the new facility, adding that the studio ensures foreign revenues and to showcase talent and maintain an industry of Quebec producers.

STUDIO SHORTAGE

The film industry is cramped in Montreal.

According to a report published last May by the Bureau du cinéma et de la télévision du Québec (BCTQ), there is a shortage of nearly 400,000 square feet of studio space.

With the addition of MELS 4, which will be 160,000 square feet, the company is filling part of the gap.

Carrier admitted that he has had to turn down contracts because of the lack of space, representing missed opportunities of « tens of millions of dollars, not only for MELS, but also for the Quebec economy. »

« Montreal’s expertise is in high demand, » said Montreal Mayor Valérie Plante, who was present at the announcement.

She said she received great testimonials from « Netflix, Disney, HBO and company » during an economic mission to Los Angeles in 2019.

« What stands out is that they love Montreal because of its expertise, knowledge and beauty. We need more space, like MELS 4, » she said.

There is still not enough capacity in Quebec, acknowledged Minister of Finance, the Economy and Innovation Eric Girard.

« It is certain that the government is concerned about fairness and balance, so if other requests come in, we will study them with the same seriousness as we have studied this one, » he said.

Grandé Studios is the second-largest player in the industry. Last May, the company said it had expansion plans that should begin in 2022. Investissement Québec and Bell are minority shareholders in the company.

For its part, MELS will have 400,000 square feet of production space once MELS 4 is completed. The company employs 450 people in Quebec and offers a range of services including studio and equipment rentals, image and sound postproduction, visual effects and a virtual production platform.