Health Spending Account CRA | Olympia Benefits Blog (2)

Everything you need to know about small business bankruptcy in Canada

For a small business, filing for bankruptcy is usually considered a “last resort” since it will mean the end of your company. In this article, we talk about how bankruptcy works in Canada – and discuss other options that are not as drastic. You’ve worked hard to build up your business, so do what...

November 10, 2022

New tax credits for 2022 in Canada

No one likes to pay more taxes than they have to – so be sure to take advantage of all of the tax credits available. In this article, we’ll look at the new tax credits for...

How does inflation affect small businesses?

Rising costs hurt everyone, including small businesses. Your employees may be demanding higher wages and suppliers may be increasing prices every time you place an order. And...

Six key things when planning for retirement in Canada

There are many articles offering advice on how to plan financially for your retirement. Money is important and we’ll certainly dive into finances in this article. However,...

To Buy or Not To Buy - Health Insurance for Small Business

With worker shortages in many sectors across Canada, small businesses are increasingly providing health benefits to recruit and retain top employees. However, health...

Everything you need to know about Canadian employee benefits

Employees at Canadian organizations have access to a variety of benefits. Some of these are mandated government programs – so every employee receives them. Others are...

What is long term care insurance in Canada?

Many Canadians think that the government health care system will cover all of their costs if they need to move to a long-term-care facility or require at-home assistance with...

What’s the difference between a partnership and a corporation?

When you start a business in Canada, one of the most important decisions that you must make is what kind of legal structure it will have. There are three main options: sole...

What is a Professional Corporation in Canada? - Examples

If you work in certain professions in Canada, you may be able to save taxes by forming a professional corporation. These are similar to regular corporations but do not limit...

Unanimous Shareholder Agreement - Explained

These types of agreements are usually used by companies with a small number of shareholders, which are often called “incorporated partnerships.” A unanimous shareholder...

What is an arm's length employee?

When you own a family business, you may have two types of employees: arms-length and non-arm’s length. In this article, we’ll discuss non-arm’s length employees, who are...