May 5, 2021

Tax measures included in the 2021 Budget

  On April 19, 2021, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, delivered the 2021 Federal Budget: A Recovery Plan for Jobs, Growth, and Resilience – the first Federal Budget since 2019. There were a significant number of tax measures included in the 2021 Budget, with four items particularly relevant for businesses in Canada’s real estate and construction industry. Immediate Deduction Budget 2021 proposes to provide immediate deductions in respect of certain “eligible property” acquired by a Canadian-Controlled Private Corporation (CCPC). This immediate deduction will be available for eligible property acquired on or after April 19, 2021 and...

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March 31, 2021

Upcoming Changes to the Builders’ Lien Act

  Upcoming Changes to the Builders’ Lien Act The current Builders’ Lien Act (the “Act”) is getting an upgrade this year and there are some key changes that you should be aware of: The lien period is changing from 45 days to 60 days for the construction industry and from 45 days to 90 days for contracts primarily related to the supply of work and services in relation to concrete; Statutory holdback on large multiyear projects will be released on an annual or phased basis which will allow for funds to flow to the contractors and subcontractors and restrict the...

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March 17, 2021

Scholarship deadline has been extended!

The CCA Education Fund and WIC Scholarship deadline has been extended to April 6th, 2021! Find the applications here! Where are they now? We have followed up with past WIC scholarship recipients to find out where they are in their career! The Women in Construction scholarship gave me the financial support I required to further my studies in Construction Management and the confidence I needed in order to become a valuable member in this industry as a woman. Since receiving the scholarship I have continued with my studies at the university of Calgary, and I have taken on a bigger role...

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March 3, 2021

What to look for when hiring subcontractors

Has your business recently grown, or do you have a project that needs specialization? It might be time to hire a subcontractor. While hiring a subcontractor can greatly help your construction business, you also need to take some precautionary measures as subcontracting can introduce significant liability exposure to your business. If the work is not done properly and a loss occurs, you and your insurer may have to pay for the loss. That’s why, for the health and safety of your business, you should look out for a few key things. Always request a certificate of insurance A certificate of...

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February 10, 2021

Employee performance bonuses: How to use them effectively

viaBDC A good bonus plan can help your business attract, retain and motivate employees. Bonuses are especially attractive for start-up businesses, because they are often only paid out if the business makes money. Here are a few things to consider as you design effective performance bonuses. Bonuses should be kept separate from pay and cost-of-living increases and tied directly to specific, measurable objectives that are linked to the company goals and to the employee’s contribution to these goals or the bottom line. Serious problems with morale can arise if bonuses or other reward and recognition plans are not well thought out or...

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