History of Labour Day in Canada

History of Labour Day in Canada

Labour Day in Canada is celebrated on the first Monday of September. It originally gave workers the chance to campaign for better working conditions or pay. The day is now part of a long weekend for many Canadians.

What do people do?

Traditionally, Labour Day was an occasion to campaign for and celebrate workers’ rights during parades and picnics organized by trade unions. These still play a role in Labour Day for some Canadians, but many people see the first Monday in September as an opportunity to take a late summer trip, perhaps to their country cottage, or enjoy the company of family or friends at picnics, fairs, festivals and fireworks displays. For teenagers and other students, the Labour Day weekend is the last chance to celebrate with a party or to go on a trip before school re-opens for the new academic year.

Canadian football fans may spend a large proportion of the weekend watching the Labour Day Classic matches live or on television. The Labour Day Classic consists of three games between high ranking teams in the Canadian Football League. One match is played on the Sunday before Labour Day and two on Labour Day.

Public life

Post offices, many businesses, and many organizations are closed on Labour Day in Canada. Schools and other educational establishments are also closed, as Labour Day falls at the end of the summer holiday period. Many public transport services run to a reduced or “Sunday” service, although others may not run at all. There may be some local disruption to traffic around parades, particularly in Toronto, and some congestion on highways and at airports as people return form late summer vacations or trips.

Background

The origins of Labour Day can be traced back to April 15, 1872, when the Toronto Trades Assembly organized Canada’s first significant demonstration for worker’s rights. The aim of the demonstration was to release the 24 leaders of the Toronto Typographical Union who were imprisoned for striking to campaign for a nine-hour working day. At this time, trade unions were still illegal and striking was seen as a criminal conspiracy to disrupt trade. In spite of this, the Toronto Trades Assembly was already a significant organization and encouraged workers to form trade unions, mediated in disputes between employers and employees and signaled the mistreatment of workers.

There was enormous public support for the parade and the authorities could no longer deny the important role that the trade unions had to play in the emerging Canadian society. A few months later, a similar parade was organized in Ottawa and passed the house of Canada’s first prime minister, Sir John Macdonald. Later in the day, he appeared before the gathering and promised to repeal all Canadian laws against trade unions. This happened in the same year and eventually led to the founding of the Canadian Labour Congress in 1883.

Labour Day was originally celebrated in the spring but it was moved to the fall after 1894. A similar holiday, Labor Day is held on the same day in the United States of America. Canadian trade unions are proud that this holiday was inspired by their efforts to improve workers’ rights. Many countries have a holiday to celebrate workers’ rights on or around May 1.

Excerpted from timeanddate.com

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ILScorp Offices Are Closed for Remembrance Day

ILScorp Offices Are Closed for Remembrance Day

The ILScorp offices will be closed Monday, Nov. 12. Take the time this Remembrance Day to remember and honour those who have, and who continue to, make sacrifices for our country.

We’ll be back Tuesday morning, ready to take your calls, answer your questions and register you for online insurance programs. You can reach us from 8 a.m. – 5  p.m. Pacific Time. You can also register for our insurance training programs online, anytime, at ILScorp.com

And for subscribers to the ILSTV insurance industry newsletter, your daily dose of Canadian insurance news returns to your inbox on Wednesday, Nov. 14.

This November 11, please take a moment to remember all those who have fallen.

#LestWeForget

 

Find Out If You Are Hard Working or Working Too Hard

Many people confuse hard-working people with workaholics.

What is workaholism?

Workaholism is more than a dedication to your job. It’s a near-obsessive commitment that supersedes most, if not all, other aspects of life. For many, workaholism is a true addiction, inextricably tied to feelings of self worth and identity.

What are some characteristics of workaholics? How could a person tell that he/she is a workaholic?

A workaholic displays symptoms similar to any other addict. He/she works long hours, at the expense of personal relationships and health. When not working, they’re thinking about work. Work dictates their mood: when work is going well, they’re up; when work is going less well, they’re down. Workaholics often go months without seeing friends; put their marriages on cruise control; defend their choice to work as hard as they do (come up with justification after justification); and may use work as a distraction from other problems or aspects of life.

What are some reasons that workaholics work so hard?

Working, or simply being busy, can be a hard habit to break. Busy people are important people. They’re also often pleasantly distracted people. In an op-ed that went viral in the New York Times a few years ago, a cartoonist named Tim Kreider wrote that “Busyness serves as a kind of existential reassurance, a hedge against emptiness.” When workaholics aren’t busy working — or doing something to promote their work — they feel anxious and guilty. For both men and women, this is often a result of recession — they hang onto jobs for dear life and do everything they can to ensure they’re indispensable. For  women in particular, workaholism may stem from the lingering notion that great opportunities for women are still rarer than they are for men, and as such must be strived for with unflagging determination and drive. What’s more, today’s female employees are among the first generation to have been raised by mothers who, as a whole, placed importance not just on a job, but a career. For many of these women, the slide into workaholism seems almost predisposed.

Is there a link between health problems and workaholism?

There is. Just because work itself is a respectable pursuit doesn’t mean that an addiction to it is any less damaging than other sorts of addictions. A number of studies show that workaholism has been associated with a wide range of health problems, such as insomnia, anxiety, and heart disease.

Besides from health problems, does being a workaholic bring negative effects?

Yes. For some people, working serves as a Band-Aid for other issues, a way to numb undesirable feelings or fill certain voids, much in the way that alcohol might do for an alcoholic or sex for a sex addict. What’s more, working too much can lead to lower job satisfaction, as found in a 2008 study published in The Psychologist Manager Journal that compared overworking employees to those who maintained a better work-life balance. Also, the ill effects are contagious: A study published in the International Journal of Stress Management found that workaholics can even make their co-workers stressed.

What about the effects to the families?

A 2001 study published in the American Journal of Family Therapy found that working too much negatively impacted an employee’s marriage. This isn’t surprising, since if you’re married to your work it can be difficult to be married to anything, or anyone, else. There have also been studies looking at the impact of workaholic parents on their children and the news isn’t good. In one study, adult children of workaholic fathers experienced more depression and anxiety and a weaker sense of self. That study appeared in the American Journal of Family Therapy.

What about the positive side?

There are many positive aspects to working hard and to an increasing commitment to career. These days, more and more people, women especially, are embarking on, and staying with, careers that are personally fulfilling, identity making, and lucrative. Hard work can reap great rewards. For many, it’s how they develop feelings of self worth and confidence and purpose. This can be empowering.

Since many workaholics often deny having a problem, what are solutions for them?

It’s difficult to convince a workaholic to change their behavior if they’re not also willing. If you have a workaholic in your life you might point out the things he or she is missing out on while at work, whether it’s a child’s soccer game, a good book, or a yoga class. Seek to understand why the person feels the need to work so much and support them in finding a resolution. Perhaps they feel pressure to earn money, or they feel insecure about their performance. Work together to find ways to handle the dilemma beyond longer hours at the office. For people who wonder if they might be workaholics, I might suggest they resolve to check in every so often and ask themselves: Am I working too hard? And if so, why? What am I getting out of 60 hours that I couldn’t get out of 40? Or 35? Many who work hard are working for reasons beyond the benefits good work provides but it requires really stopping and evaluating the situation to recognize that.

Can the symptoms get better?

They can, but it almost always requires a total overhaul in perspective. The first step is acknowledging and accepting — really accepting — that work isn’t the most important thing in your life. Decide what is. You won’t be able to say “no” to work unless you are saying “yes” to something else. The second step is actually starting to say no — to working late, to extra assignments, to doing a little more ‘for the team.’ Finish one task before taking on another. Third, be firm and vigilant about the time you spend working. Decide in advance that you will work, say, 8 a.m. to 4 p.m., or no more than 40 hours a week. Often, you will find that limiting the time you have to spend on work will make you more efficient during those working hours. You’ll get just as much done — because you have to — and still have time to have dinner with the family.

Excerpted article written by Dr. Peggy Drexler, Huffington Post

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New Life/A&S Course Creative Uses of Life Insurance: Split Beneficiary Planning

This new course is included as part of your ILScorp LIFE/A&S Course Subscription

In this course, learn how in certain cases Split Beneficiary Planning allows for cash extractions (free of dividend tax) from the corporation in excess of actual policy premiums; how a separate and well drafted Split Beneficiary Agreement is required, including a defendable pricing model likely using NCPI as the source cost; and that specialized legal and tax advice may be needed before implementing such planning.

Part 1 – Corporations & Insurance

Part 2 – Disruptions to Corporate Owned Insurance

Part 3 – Agreements on the use of Insurance with Corporations

Part 4 – The Pricing Models

COURSE MATERIAL SAMPLE:

COPORATE INSURABILITY

1.Key Man Insurance.  In the event of the death of a key employee, a corporation could sustain material financial hardship.  Key Man Insurance provides funding to assist the corporation maintain working capital balances in the transition period after death.

2.Shareholder Agreements.  Shareholder agreements govern actions between shareholdings in the event of the death of a shareholder.  Some agreements obligate the corporation to redeem the shares in what is called a “Corporate Redemption or Corporate Repurchase”.  Insurance in this context provides the needed funds to repurchase the deceased’s shares.

3.Loan Offset Insurance.  Sometimes creditors of a corporation will ask that key people are insured.  Should they pass away, the insurance is used to repay corporate loans.

4.Buy-Out Insurance.  Similar to shareholder agreements, corporations that transition owner-managers (key people) will often insure one or both parties (acquirer and/or purchaser) so that financial exposure during the acquisition period is covered by insurance.

Corporate Funded Insurance – Benefits

While Living:

  1. A corporation (with an insurance interest) is allowed to pay insurance premiums.
  2. Corporate paid premiums are normally a “non-deductible expense” (called an “add-back” on the corporate tax return).
  3. This allows payment of insurance AFTER corporate income tax but BEFORE personal dividend tax.

Example: Personal Ownership

An insurance policy with $1000/yr premiums needs to be paid.  We assume the policy owner is also a shareholder of a corporation.

Should that policy be owned and paid for outside of the corporation, the following series of transactions would be required:

  • The Corporation deducts $1923 as a Salary Expense (T4) from its tax return
  • With $1923 in Salary, Personal Tax Will Be Required
  • At a 48% Tax Rate this means $923 in Tax is owing

Therefore, the total cost of the insurance is $1923 of corporate resources.

Example: Corporate Ownership

An insurance policy with $1000/yr premiums needs to be paid.  We assume the policy owner here is a corporation.  Following are the required transactions:

  • The Corporation reports $1163 as Income On its Tax Return
  • At a 14% Small Business Tax Rate, $163 in Corporate Income Tax will be Paid
  • This leaves $1000 of corporate funds to pay the insurance premium.

Therefore, the total cost of the insurance is $1163.  Corporate owned insurance is a more effective place to pay premiums!

This new course is included as part of your ILScorp LIFE/A&S Course Subscription

Click here to learn more about this course!

Credit Hours: 2

Credit Type: Life/A&S

Credit #: AIC 47765 MB 29960

Accrediting Provinces: BC, AB, SK, MB, ON

Bookkeeper/Administrative Assistant

Bookkeeper/Administrative Assistant

ILS Learning Corporation – Comox, BC

Full-time, Permanent

ILScorp, a local online education company, is seeking a full-time bookkeeper/administrative assistant with the following qualifications:

  • Minimum 3 years of full cycle accounting experience (Daily Bookkeeping, Accounts Receivable, Accounts Payable, Monthly Bank reconciliations, Company Year End, Staff Payroll, Benefits)
  • Excellent use of Excel and Microsoft Word
  • Proficient in Quickbooks
  • Possess excellent English verbal and written skills
  • Effective telephone communication / customer service skills
  • Strong interpersonal, administrative and organization skills, with the ability to multitask
  • Experience in an accounting firm or other professional service setting is ideal.
  • Perform Administrative duties such as couriers, mail, banking, invoice preparation and office supply management
  • Dealing with administrative matters as required

Email resume and cover letter to careers@ilscorp.com

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