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Planning an exit strategy
An exit strategy is an important business strategy. Whether you're passing your business down to the next generation or navigating a robust M&A market, we can help turn your passion and commitment into profit.
Industries at a crossroad
How can car dealerships adapt to changing customer demands?
Consumer behaviour driven by evolving technology is changing fast in the automotive industry. Our new series shares insights to help your business stay ahead.
Cloud Accounting Home
Cloud accounting
Revolving door? Tips to help you deal with a labour shortage
Labour shortages may be the norm, but there are ways to remain competitive. Solve your staffing crunch by incorporating these strategies into your growth plan.
Environmental, social, and governance (ESG) and sustainability Home
ESG
ESG for small- and medium-sized businesses: What you need to know
We can help your business effectively navigate the complex challenges and opportunities along your ESG journey.
Agriculture Home
ASPE Sec. 3041 Agriculture
Understanding and applying the new ASPE Section 3041 Agriculture
The Canadian Accounting Standards Board (AcSB) has released new guidance on recognizing, measuring and disclosing biological assets and the harvested products of bio assets.
Cannabis Home
ASPE Sec. 3041 Agriculture
Understanding and applying the new ASPE Section 3041 Agriculture
The Canadian Accounting Standards Board (AcSB) has released new guidance on recognizing, measuring and disclosing biological assets and the harvested products of bio assets.
Financial Services Home
Advisory
Preventing human trafficking: global issue, calling Canada
Did you know slavery still occurs in the 21st century? The modern face of slavery is human trafficking.
Professional services Home
Charities & not-for-profit
Improving financial health with reserves planning
Reserve funds offer charities and not-forprofit organizations important benefits—
from funding new strategic directions to avoiding undesirable cost reduction measures—but setting them up is not without its challenges.
The Supplemental Unemployment Benefit (SUB) program is a plan that allows an employer to top-up an employee’s EI benefits during periods of unemployment due to various factors including a temporary stoppage of work or illness, injury or quarantine. This is not a new plan but is a potential option for employers to help cover the cost of employees’ wages.
Who is eligible?
Employers whose employees would qualify for unemployment insurance benefits and are subject to a temporary stoppage
of work.
What are the requirements for SUB plans?
The following requirements must be met:
- Employees must be in receipt of EI benefits related to a permitted type of unemployment.
- The weekly payment under a SUB plan, when added to the applicable weekly EI benefit, cannot exceed 95% of the employee’s normal weekly earnings; and
- SUB plans should be registered with Service Canada. If they are not, top-up payments will be considered insurable earnings and will be deducted from an employee’s EI benefits. If employers pay employees any top-up amounts before a plan is registered, these amounts will be treated as earnings and may be deducted from the employee’s EI benefits.