DFG Blog - Dehoney Financial Group

New: PST to be charged on insurance premiums in Saskatchewan

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In an Information Notice dated March 22, 2017, issued by the Government of Saskatchewan, the government announced both an increase and expansion of the Provincial Sales Tax (PST) from 5% to 6% effective March 23, 2017.  Read the notice here.

Of significance to employers with employees who reside in Saskatchewan is the expansion of the PST to include insurance premiums. This new tax applies to all insurance premiums that are due on or after July 1, 2017, regardless of when the policy was issued. This includes:

Life Insurance
Accidental Death & Dismemberment Insurance
Extended […]

Wondering if Financial Advisors make a difference to the growth of assets?

Financial Advice

A new study confirms financial advisors deliver results for investors.

Two researchers from the Center for Interuniversity Research and Analysis of Organizations (CIRANO), working with survey data gathered by Ipsos-Reid in 2013, set out to measure the impact of financial advisors on asset growth. The study titled, The Gamma Factor and the Value of Financial Advice was released in the summer of 2016 and was most recently shared at a financial industry event in Toronto.

Who hires financial advisors?

Perhaps unsurprising, the research found that people with greater wealth and financial […]

Taxing employer-paid health and dental benefit plans?

UPDATE: Trudeau says that his government will not impose a tax on health and dental benefits.

Global News reported that, during yesterday’s question period in the House of Commons, Prime Minister Justin Trudeau finally answered the question he’s been avoiding for weeks. When asked by Official Opposition Leader Rona Ambrose about whether his government would ask Canadians to pay an additional $1,000 for their health and dental benefits, the Prime Minister answered, “We are committed to protecting the middle class and that’s why we will not be raising the taxes the member […]

Changes to Employment Insurance (EI) Waiting Period Begin January 1, 2017

UPDATE: Changes to Employment Insurance (EI) Waiting Period Begin January 1, 2017

The 2016 Federal Budget introduced significant changes to Employment Insurance eligibility and benefits in response to fluctuating unemployment rates. Most notably, the waiting period for EI benefits, including sickness benefits, has changed from 2-weeks (14 days) to 1-week (7 days). The benefit payment period remains unchanged at 15-weeks of paid benefit.

Impact to Employers of the new EI Waiting Period

If you are an employer who currently coordinates EI sickness benefits with a […]