Your Weekly Tune Up
Happy New Year!!
You ready for 2024?
We're All Ears: First Update of the New Year
As we develop our plans and budgets for the upcoming year, we want to hear from you. Where would you like us to spend our time? What do you value? Where could you use support? What events are you looking for? What questions do you have? We are hoping you will take about 30 minutes to share your feedback with us or email us and we can schedule a time to go through it with you to gain additional insight and your expertise. https://www.surveymonkey.com/r/2023ChamberConnect
The top changes this year that will affect business taxes in 2024
This year, there have been many announcements about changes that will affect business taxes in 2024. We have pulled them together here for quick reference, along with a list of resources that can help you manage these changes and your tax affairs in the new year.
Are you importing goods to Canada? Register on the CARM Client Portal today
Are you a business that imports goods to Canada using an import-export program account (RM)? If so, you need to familiarize yourself with the Canada Border Services Agency (CBSA) Assessment and Revenue Management (CARM) project. As of May 2024, import-export program account (RM) registrations will only be available through CBSA’s CARM Client Portal. The CRA will no longer be providing this service.
Get ready for second additional Canada Pension Plan contributions
Is your business ready for 2024 and the start of second additional Canada Pension Plan contributions (CPP2)? Click on the links below for an overview of how CPP2 contributions may affect you as an employer, your employees, or if you’re a self-employed individual.
- Employers and the 2024 CPP changes
- Employees and the 2024 CPP changes
- Self-employed and the 2024 CPP changes
For more detailed information about CPP2 and the Canada Pension Plan enhancement in general, please visit: canada.ca/cpp-enhancement
Information for employers on filling out T4 slips, including the new T4 CPP2 boxes, is available here.
How to claim home office expenses for 2023 tax year
The Canada Revenue Agency is currently updating its webpages and Form T2200 for the 2023 tax year. The updated form, which will be made available at the end of January 2024, along with other T1 related forms, will be easier to complete for employees who are only claiming a deduction for home office expenses. Eligible employees who worked from home in 2023 will be required to use the detailed method which was the method used to claim home office expenses prior to the pandemic. Eligible employees who worked from home due to the COVID-19 pandemic could use a temporary flat rate method to claim home office expenses for the 2020, 2021, and 2022 tax years. This temporary flat rate method does not apply to the 2023 tax year.
Advocacy in Action
Council Highlights of December 18, 2023
December 18 focused on the Towne Square update, a motion to amend the procedure bylaw for adjustments to closed Council meetings, the environmental framework update, festival grants, 2024-2024 Corporate Strategic Objectives, the appointment of public members to advisory boards and commissions, discussion on the disclosure of public salaries and two Notices of Motion for January. For full details, download the agenda package or watch the full meeting on the City of Medicine Hat’s YouTube channel. You can view the highlights online.
Improving responsible reclamation work in Alberta
In the coming months, the province will launch two new pilots aimed at helping improve the current reclamation certificate process while maintaining the highest environmental standards. These pilots will test ways to certify portions of reclaimed sites and help reclaim peatlands. Find out more. The Chamber has been advocating for remediation, reclamation and redevelopment of brownfield sites for several years: https://chamber.medicinehatchamber.com/policies/Details/creating-jobs-through-remediating-and-redeveloping-brownfields-124620.
CEBA and RRF Petition
In 2023, many small businesses have yet to recover from the financial impact of the pandemic, and have faced the added pressures of rising costs and a tight labour market and rural regions have been slower to rebound from the pandemic, facing inequitable impacts on their recoveries.
The Government of Canada is being asked to extend the deadline to qualify for partial loan forgiveness under the CEBA and RRRF until at least January 18, 2025. More information
Next Level Events
New Members Night - Member 101
We would like to welcome our new Chamber Members to join us at The Cypress Club of Medicine Hat for the inaugural New Members Welcome Night and Member 101. Network with your peers, meet other business owners and enjoy this historic ambience of the Club with us on January 30th!
The Member 101 format will be similar to our Learn From The Experts Event Series with fun, focused and fast (4-5 mins!) conversations over the course of an hour with Chamber Staff. Learn the many ways being a member is beneficial and meet the team behind it all! More details and registration here (spots are limited)! Let's get you up and running!
2024 State of the City Address
The Annual State of the City Address is where you can learn about the City's progress over the past year and get informed about what's in store for the community in 2024. Join us as we reflect on the accomplishments of our community during 2023, and be the first to hear what the City of Medicine Hat has in store for the coming year including exciting new projects, opportunities for development, and vision for the future. More information, registration and details here!
2024 Home + Leisure Tradeshow is happening soon!
A few months away and coming up FAST!! With over 60% of booths sold, there is still prime space available and it's going fast. Bulk space for large exhibitors and food truck space are also available on a limited basis. With thousands of consumers visiting the shows over the course of three days these trade shows give an incredible opportunity to gain exposure for your business, demonstrate and sell products, and showcase your services. Register now and save your space!
Enriching Your Business
There's a reason Chambers Plan is Canada's #1 plan.
Contact JoAnne Letkeman,
Exclusive Chamber Group Advisor,
403-504-2166 ext 1.
Fueling the Business Community
• WHY BECOME A MEMBER? •
Walking into a fresh new year, why not start it out by taking action in making your business the best it can be? Here's a fresh reminder for you on why your Chamber Membership is beneficial:
Your Chamber of Commerce is your local hub for TONS of business resources, funding, connections and networking, extra marketing to promote your business, member to member deals, the list goes on!! Need a more specific look at what we offer you? Check out the links below for what member benefits and deals look like! Need further convincing, want to connect with us, ready to utilize your resources or are ready to become a member? Connect with us!
Reasons to Become a Member | Member Benefits | Member Exclusive Deals
Limited-Time Promotion for New Chamber Members!
$100 Statement Credit for New Chamber Members, promotion period: January 1st to 31st, 2024.
Throughout the month of January, any new member who signs up through our Chamber Referral Program will receive a $100 statement credit! This exclusive offer is available for a limited time!
How Members Can Participate:
- Submit a web inquiry through the Elavon Chamber landing page here,
- Our dedicated sales representatives will promptly reach out for a consultation within 24- 48 hours,
- Complete the sign-up process by January 31st, 2024, and members will be qualified to receive $100 Statement credit.
Fill Up On Funding
The Emerald Awards
The Emerald Awards showcase organizations, projects, and individuals from across Alberta who are working to address environmental and climate change issues. Find out more here.
Since 1992, the Emerald Awards have showcased nearly 400 recipients and 900 finalists who are raising the bar in addressing environmental and climate change issues. These environmental awards are incredibly unique, as they’re the only program in Canada to recognize environmental excellence across a diverse range of sectors. Emerald Award recipients receive:
- A $1500 grant to support the continuation of their work
- A custom trophy to commemorate their achievement
- A video feature in the Emerald Documentary Series and the opportunity to participate in the What On EARTH Can We Do? podcast and Emerald Speakers Series
- A feature on the Emerald Foundation website
The Ecosystem Fund
The Ecosystem Fund has been designed to assist non-profit organizations that collaborate with and support 2SLGBTQI+ entrepreneurs. These organizations are now eligible to apply individually or together with a partner organization for funding to fuel two core categories of projects. Find out more about the program and how to apply.
Canada Summer Jobs 2024: Application period open until January 10
Employers from not-for-profit organizations, the public sector, and private sector organizations with 50 or fewer full-time employees in Canada can apply for funding to hire young Canadians aged 15 - 30 next summer. The application deadline is January 10, 2024. Learn more
Crossword Puzzle
Crossword Puzzle Answers
Ready to figure it out? Come back next week for this week's answers!
Remember that subscribing to our weekly email gets you access to the crossword puzzle. Anyone who sends us their answers will get their name put into our quarterly draw.
The prize? Receive 5 promotional credits with us (for members) or credit towards a membership (for non-members)! Oh and bragging rights that you're a crossword master.
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