2017 - Dehoney Financial Group

Expanded Parental Leave Takes Effect Dec 3, 2017

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The much-anticipated legislation around Employment Insurance (EI) maternity benefits, parental leave, and caregiver benefits comes into effect Dec 3, 2017. This implementation date was recently announced by Jean-Yves Duclos, Minister of Families, Children and Social Development. The Canada Labour Code has been amended to include these recent changes. And, for employees in federally-regulated workplaces, they can choose the extended benefit option as of Dec 3, 2017, with job protection. For provincially-regulated workers, selecting the 18-month option as of Dec. 3, will not have the same job protection until their province or territory amends their individual […]

Saving for retirement is not easy

Education

Are retirement saving plans secure?

Retirement saving plans have been making news headlines for a variety of reasons. One of those includes the security of pension plans when an employer runs into financial problems or is sold. Take for example the situation for workers at Sears Canada and Northstar Aerospace who may face a 19-24% reduction in pension benefits due to insolvency and layoffs. For all the details read more here.

Defined benefit and target benefit plans

Sears Canada has a defined benefit plan and Northstar Aerospace has a target benefit plan. Both […]

Rediscover the tax-saving ability of life insurance.

tax savings of life insurance

Over the past couple of weeks, a lot has been written about Finance Minister Bill Morneau’s proposal to fix the perceived unfairness in the way that private-business owners, family businesses, and incorporated professionals pay tax. While the proposal was not a surprise, it was the scope of the changes that many found alarming. In the days after the proposal became public, doctors’ associations, farmers, and small and medium-sized businesses have let the Minister and his government know that these changes will have a significant and negative effect on practicing doctors, the economy, and on the future of […]

Bill 92 amendments reduce drug costs, but so too will Quebec’s latest agreement

real cost of drugs

At the close of last year, the Quebec government passed Bill 92, An Act to extend the powers of the Régie de l’assurance maladie du Québec and to amend various legislative provisions.

Among the eighty-four amendments contained in Bill 92, is the requirement for pharmacies to detail drug cost, markup, and dispensing and/or professional fees on the pharmacy receipt.

A consumer website has been created to help Quebec residents understand the new and more detailed pharmacy receipts.

While this kind of detailed breakdown is common practice in other Canadian provinces, it is new […]