Dear Client:

Attached here is the August/18 edition of Business Matters. A couple of management articles, one tech and one tax. Let’s get started!

Complacency

It is a very natural tendency to become complacent at work, at home, etc. The first management article is about recognizing and combating complacency at work. As managers we have to be creative to alleviate complacency and ensure productivity. Read on for some tips you can use to combat complacency.

Electronic Signatures

We still do not see many electronic signatures in our practice. The time may be coming but it’s not here yet. All you ever wanted to know about electronic signatures in the tech article.

On a different but similar topic, make sure you have multiple signing authorities on business bank accounts.  If something happens to the owner/manager and only he/she has signing authority the business could suffer – a lot.

TFSA Taxation on Death

Good summary of what happens to TFSA’s when a person passes away. The takeaway from this article “there are potential tax complications with a TFSA when a taxpayer passes away.” Your financial institution and Chartered Professional Accountant can provide answers to any questions you may have.

Control = Responsibilities

The second management article discusses what having control of a business means. It’s not what you might think. After the article lists the dire consequences of not being in control of your business, it concludes that a culture fostering processes and procedures within a company that ensures compliance with external rules and regulations is absolutely essential to ensure proper control. Kind of wordy but makes sense.

That’s it for the August edition!

May you have “fair winds and following seas” in the months ahead.

Best regards

JIM M. SMITH CHARTERED PROFESSIONAL ACCOUNTANT INC.