| NEWS
The Federal Fall Economic Statement: Improving ROI on New Capital Investments
The federal government’s Fall Economic Statement is proposing three important immediate changes to Canada’s tax system:
· Allowing businesses to immediately write off the cost of machinery and equipment used for the manufacturing or processing of goods.
· Allowing businesses to immediately write off the full cost of specified clean energy equipment.
· Introducing the Accelerated Investment Incentive, an accelerated capital cost allowance (i.e., larger deduction for depreciation) for businesses of all sizes, across all sectors of the economy, that are making capital investments.
What this means for you: quicker write-offs means that asset is off the balance sheet faster which improves your financial position. Talk to your financial/tax advisor for implications.
What to do: Capital investments are a big decision for every size business. Companies that re-invest in new equipment and technology can improve productivity, lower labour costs through automation, improve food safety and produce new products – all of which will help make you more profit.
What else: Some equipment may be eligible for grant support under the Canadian Agricultural Partnership. Ask Kevin for details.
Bill 47, Making Ontario Open for Business Act, 2018
On October 23, 2018, the Ontario government introduced Bill 47, Making Ontario Open For Business Act, 2018, to repeal numerous provisions of the previous government’s Fair Workplaces, Better Jobs Act, 2017 (Bill 148). Employers must continue to comply with the requirements of Bill 148 until the proposed repeal comes into force. One primary change is minimum wage will remain at $14.00 per hour.
An electronic version of the Bill is available on the Legislative Assembly website at: www.ola.org.
The Ministry is proposing changes to O. Reg. 31/05 (Meat) made under the Food Safety and Quality Act, 2001. The changes would reduce burden for provincially licensed meat plant operators in Ontario while maintaining food safety.
The proposed amendments are now on the Regulatory Registry, with comments accepted until January 10, 2019.
Proposed amendments to Regulation 761 under the Milk Act
The Ontario Farm Products Marketing Commission (Commission) is proposing amendments to Regulation 761: Milk and Milk Products, under the Milk Act.
The proposed amendments are intended to help reduce burden for existing dairy processors, new and expanding dairy processors, and small foodservice and retail operations.
The proposed amendments are now on the Regulatory Registry, with comments accepted until January 10, 2019.
FUNDING
Yves Landry Foundation
The Yves Landry Foundation has established the AIME (Achieving Innovation and Manufacturing Excellence) Global initiative, offering manufacturers in south, central and eastern Ontario up to $100,000 to offset the costs of training expenses related to supporting innovation and achieving a competitive advantage.
The AIME Global initiative will support two types of eligible training activities:
1.Training that supports the adaption of new technology, new processes or procedures or a change within the company to support innovation.
2.Training that supports and develops highly skilled personnel in any area that leads to innovation.
Program details are available on-line at: www.yveslaundryfoundation.com
or contact Kevin Montgomery for a program guidebook.
Canada-Ontario Job Grant
- Employers can get up to $10,000 in government support per person for training costs.
- The training has to be delivered by an eligible, third-party trainer.
- Employers with 100 or more employees need to contribute 1/2 of the training costs. Small employers with less than 100 employees need to contribute 1/6 of training cost
Contact Kevin for program guide or who to contact.
EVENTS
Safe Food for Canadians Regulations Outreach Sessions
To help ensure that your business will be prepared – the Canadian Food Inspection Agency is hosting the following outreach sessions in your area to learn more about what the SFCA and SFCR mean for your business:
Guelph – Monday December 3, 2018 10:00 am – 12:00 pm
Canadian Food Inspection Agency – 259 Woodlawn Road West, Suite A,
Guelph, Ontario N1H 9J1
Chatham – Friday December 7, 2018 10:00 am – 12:00 pm
Canadian Food Inspection Agency – 120 Wellington Street West,
Chatham, Ontario N7M 3P3
Hamilton – Tuesday, December 11, 2018 10:00 am – 12:00 pm
Canadian Food Inspection Agency – 709 Main Street West,
Hamilton, Ontario L8S 1A2
London – Thursday, December 13, 2018 at 10:00 am – 12:00 pm
Canadian Food Inspection Agency – 19-1200 Commissioners Road East,
London, Ontario N5Z 4R3
Kingsville – Monday, December 17, 2018 10:00 am – 12:00 pm
Canadian Food Inspection Agency – 1-106 Wigle Avenue,
Kingsville, Ontario N9Y 2J8
St. Catharines – Tuesday, December 18, 2018 10:00 am – 12:00 pm
Canadian Food Inspection Agency – 13-395 Ontario Street,
St. Catharines, Ontario L2N 7N6
Please R.S.V.P. to Sumitra Meetun, Sumitra.meetun@canada.ca by November 28, 2018 to secure your spot. Please indicate which session you are interested in attending and number of attendees. If you are unable to attend in person, virtual participation by teleconference or WebEx will be available. Please RSVP for connection details. |
