Posts By: Kelly Bird

Retail industry turnarounds and the post-pandemic market

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At the outset of 2020, the retail industry was expected to see a 5% rise in sales. Canada’s unemployment rate was at a 45-year low of 5.7%, and consumer spending was looking promising, with a 1.4% year-over-year gain following the holidays. I’m sure you can see where we’re headed. As soon as the COVID-19 pandemic ….

59 Days Later: A follow up COVID-19 discussion with Dr. Peter Andersen

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Dr. Peter Andersen joins us again, for a second economic update, 59 days after the initial COVID-19 business shut-down. During this webinar Peter addresses the following: Made in Canada problems US recession will end this summer Construction and Manufacturing will be the first to show momentum Canada will not reopen as quickly Get ready for ….

The Restart Part 2: The Automotive Industry’s Challenges

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After several months of shutdown, the North American auto industry has announced their intention to restart manufacturing near the end of May.  General Motors and FCA announced that May 18, 2020 will be the restart manufacturing date – Ford plans to follow suit.  Canadian plants have announced similar plans.  While Mexico is somewhat unclear on ….

Prescribed rate reductions could mean savings for your family

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Back in April of 2018, the prescribed rate increased from 1% to 2%. Previously, the rate had remained stable for several years, aside from a brief hike for one quarter in 2013. The CRA’s prescribed rate directly impacts the amount charged by the CRA for late payments, the rate that is paid out on overpayments ….

The Restart: More Challenging than the Shutdown

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Recent analysis from the Royal Bank of Canada (“RBC”) indicates the Canadian economy shrank by 10% annualized in the first quarter of this year.  With a significant increase of Canada’s unemployment rate to 7.8% in March – double the largest one month increase on record – the unemployment rate is expected to climb to 20% ….

COVID-19 and commercial property owners: Here’s how to mitigate risk

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Commercial property owners are facing increasing uncertainty amidst the COVID-19 pandemic. Following the closure of non-essential businesses, there is understandable concern about whether tenants will have the income necessary to pay rent. And while the Canadian government is introducing new measures to assist both tenants and property owners, it remains to be seen whether such ….

US tax developments relating to COVID-19

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Current as of April 9, 2020 In March, President Trump signed a $2.2 trillion coronavirus rescue package.  Our March 30 post outlined the highlights of that package as they apply to companies doing business in the US as well as US citizens resident in Canada. On April 9, 2020, the Department of Treasury and the ….

The Zeifmans Family Business Handbook

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The Zeifmans Family Business Handbook: Understanding the 6 facets of family business success Family businesses are the backbone of the Canadian economy, producing 90% of the jobs created by small and mid-sized companies, and accounting for 35% of the country’s real GDP[1]. At Zeifmans, we understand the importance of family-run businesses from both a financial ….

Andersen’s Economic Update in these Uncharted Waters

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As the economic and financial disruptions associated with the COVID-19 pandemic are expected to continue to effect the global economy, Zeifmans hosted the webinar, Andersen’s Economic Update in these Uncharted Waters, featuring economist, Dr. Peter Andersen, to address the following topics: When and how will it end? Key indicators to watch Is there any good news? Differences ….

COVID-19 – Government benefits, subsidy and loan programs

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Current as of April 16, 2020 Following the official declaration of the COVID-19 pandemic by the World Health Organization, Canada’s Federal Government has introduced a number of stimulus benefits for individuals and businesses alike. These financial programs (some of which have been legislated) are meant to cushion the blow that so many Canadian business owners ….