Nominations open for 2021 Tri-Cities Chamber of Commerce business excellence awards

General Angela Calla 23 Sep

Tri-Cities Chamber of Commerce Business Excellence Awards

The Tri-Cities Chamber of Commerce Business Excellence Awards.Facebook/Tri-Cities Chamber of Commerce

 

Do you know of a business or businessperson that deserves recognition for their perseverance and dedication?

It’s undoubtedly been another trying season for businesses — big, medium or small — in the region with the COVID-19 pandemic, but the Tri-Cities Chamber of Commerce (TCCC) is hoping to honour those who’ve persevered.

As of Tuesday (Sept. 21), the nomination period is open for the organization’s 2021 Business Excellence Awards with a deadline of Oct. 8.

The award categories, along with nomination criteria and last year’s winners, are listed as follows:

Business Leader of the Year

  • 2020 Winner(s)
  • Criteria:
    • Has a proven track record of sustained success in his or her field
    • Has had a significant impact on his or her business as evidenced by growth, innovation, and an established reputation as a business leader
    • Demonstrates leadership by way of giving back through participation with local business initiatives and not-for-profit organizations
    • Has a reputation of business excellence and expertise in his or her field
    • Has an innovative spirit and has demonstrated an exceptional level of performance and dedication to leadership

Business of the Year

  • 2020 Winner(s)
  • Criteria:
    • Demonstrates an exceptional level of leadership and is regarded as a leader in its industry
    • Demonstrates excellence in performance as evidenced by longevity, retention, financial growth, and reputation (please provide documentation if at all possible)
    • Innovative based on the unique product and/or service it provides to the Tri-Cities, including exceptional customer service and satisfaction, and community services
    • Demonstrates a positive social conscience by utilizing its resources to improve its community through events and initiatives, support of local not-for-profits, and reducing its environmental impact
    • Has an overall positive impact on the Tri-Cities and makes the community a better place to live and work

Business Resiliency Award

  • 2020 Winner(s)
  • Criteria:
    • Responded to the pandemic with an exceptional level of leadership
    • Reacted positively to business interruptions during the pandemic
    • Found innovative ways to sustain and grow their business during the pandemic and beyond
    • The business supported its staff throughout the shutdown and pandemic
    • Demonstrates a positive social conscience by utilizing its resources to improve its community

Community Spirit Award

  • 2020 Winner(s)
  • Criteria:
    • Uses their resources to provide outstanding support to local initiatives and not-for-profit organizations
    • Embodies leadership in community initiatives and has had a significant positive impact on the Tri-Cities community
    • Demonstrates a passion for the community, making a positive difference and giving back
    • Demonstrates an outstanding generous spirit and dedication to making the Tri-Cities a better place to live and work

Not-for-Profit of the Year

  • 2020 Winner(s)
  • Criteria:
    • Has an established reputation within the community for providing exceptional programs and services
    • Provides innovative programs and services that would not otherwise be available to those in the community
    • Has a strong local impact
    • Has exceptional reach within the Tri-Cities community

Young Professional of the Year

  • 2020 Winner(s)
  • Criteria:
    • Embodies leadership and support in community initiatives and has had a significant positive impact on the Tri-Cities community and local businesses
    • Has a proven track record of sustained success, leadership, and growth in his or her field
    • Has had a significant impact on his or her business as evidenced by growth, innovation, and an established reputation as a business leader
    • Has a reputation of business excellence and expertise in his or her field
    • Showcases dedication to his or her company and bettering both the community and him or herself

Environmental Steward of the Year

  • 2020 Winner(s)
  • Criteria:
    • Demonstrates an in-depth understanding and an outstanding, cooperative effort to environmental sustainability
    • Is a role model for businesses in environmental sustainability best practices (recycling, composting, energy/water conservation, gardening, etc.)
    • Demonstrates sustainable business practices in its own operations (aside from the product or service for sale)
    • Helps to build environmental awareness and promote environmental stewardship within the Tri-Cities environmental landscape
    • Has milestones and/or measurable accomplishments that demonstrate effective sustainable operations

The Tri-Cities Chamber is encouraging interested residents and entrepreneurs to submit thorough nominations so judges can better determine the finalists.

A celebration is currently planned for Jan. 29, 2022.

For more information, you’re encouraged to visit the TCCC’s website.

Article published by the Tricity News 

Angela Calla is a 17-year award-winning woman of influence which sets her apart from the rest. She is without a doubt, a true expert in her field. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code“, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click  here to view the latest news on our blog. 

Team Banner housing market

Update | Liberals on the Housing Market

General Angela Calla 16 Sep

The Liberals have clarified what they’ll do for the Canadian Housing Market in a recent campaign. The Party releases an aggressive housing plan faceted to combat other Party’s aggressive housing plans.

Trudeau promises a number of notable things,

      • Billions of dollars in new funding, measures to curb the practice of “flipping” homes
        • Efforts to block foreign nationals from buying homes for two years
        • New regulatory measures to police exploitative real estate agents
        • A three-point program which includes,

          • Unlocking home ownership through new government funding
          • A plan to build more homes to address supply constraints
          • Measures to establish and protect new rights for buyers.
        •  Introduce a first home savings account which would allow Canadians up to age 40 to save $40,000 toward their first home and withdraw it tax-free when it comes time to buy.
        • Double the first-time home buyers tax credit from $5,000 to $10,000
        • Slash mortgage insurance rates by 25 per cent
        • A “rent-to-own” program, with $1 billion in new funding to “create a pathway for renters in five years or less
        • Build, preserve or repair 1.4 million homes in the next four years” by giving cities “new tools to speed up housing construction.”
        • Create a $4 billion pool of cash that cities could tap if they help to create “middle-class homes”
        • The party is also promising $2.7 billion over four years to build or repair more affordable homes
        • Money to convert empty office space into housing,
        • A “multigenerational home renovation tax credit” to offset the costs of adding a secondary unit to a home
        • More money for Indigenous housing to help First Nations, Métis and Inuit people who live in substandard conditions.

For more information, visit https://liberal.ca/housing/

Angela Calla is a 17-year award-winning woman of influence which sets her apart from the rest. She is without a doubt, a true expert in her field. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code“, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click  here to view the latest news on our blog. 

Liberals on the Housing Market

 

Maximum allowable rent increase capped at 1.5% for 2022

General Angela Calla 15 Sep

B.C.’s maximum allowable rent increase amount for 2022 is being set at 1.5%, based on inflation.

This increase cannot take effect prior to Jan. 1, 2022. If landlords choose to increase rent, they must provide a full three months’ notice to tenants using the correct notice of rent increase form.

To support British Columbians, the Province enacted a rent freeze at the beginning of the COVID-19 pandemic. The freeze has since been extended to Dec. 31, 2021.

The 2022 maximum allowable rent increase is significantly less than what it would have been prior to changes made by the Province in 2018 that limited rent increases to inflation. Prior to that change, maximum rent increases could include an additional 2% on top of inflation. This change has saved families hundreds of dollars.

B.C. landlords can only increase rent once annually, if they choose to increase rent at all.

The Province also recently banned illegal renovictions (evictions to complete renovations to a property)  by requiring landlords to apply to the Residential Tenancy Branch for pre-approval before ending a tenancy.

Quick Facts:

  • If  a landlord served a tenant with a notice of rent increase that takes effect in 2021, it is null and void and the tenant does not have to pay it.
  • The maximum allowable rent increase is defined by the 12-month average per cent change in the all-items Consumer Price Index for B.C. ending in July the year prior to the calendar year for which a rent increase takes effect.
    • For example, if a rent increase takes effect in 2022, the maximum allowable rent increase is the 12-month average per cent change in the all-items Consumer Price Index for B.C. ending in July 2021.
  • The 2022 maximum increase for manufactured home park tenancies will be 1.5%, plus a proportional amount for the change in local government levies and regulated utility fees.
  • The rent increase does not include commercial tenancies, non-profit housing tenancies where rent is geared to income, co-operative housing and some assisted-living facilities.

Published by the Attorney General. View article here.

Angela Calla is a 17-year award-winning woman of influence which sets her apart from the rest. She is without a doubt, a true expert in her field. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code“, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click  here to view the latest news on our blog. 

Team Banner housing market

The benefit of giving your kids a chunk of their inheritance before you die

General Angela Calla 8 Sep

There’s an old saying that it’s better to give with a warm hand than a cold one. Put another way, for many parents, there are benefits to gifting money to the next generation while you’re still alive or providing what’s known as a “living inheritance.”

There’s an emotional reward that comes with giving adult children money to buy a house, start a business or simply support their families, experts say, as well as financial benefits of reducing the value of your future estate. The trick is not giving away too much so that it spoils the kids, or worse, curbs your retirement lifestyle.

“Assuming parents are in a strong financial position to do so, and if there are excess funds beyond their income retirement needs, then that’s when gifting should often be considered,” says Kelly Ho, a partner and certified financial planner at DLD Financial Group Ltd. in Vancouver.

Many are doing just that. A CIBC poll shows more than half of Canadian parents have either given or plan to give a significant gift or early inheritance to their children or grandchildren, either because their offspring need the money or parents want to take pleasure in seeing their kids and grandkids enjoy the funds.

The main upside to giving while alive is “getting to see how the money is making their loved one’s life better or easier,” says Moira Somers, a Winnipeg psychologist specializing in behavioural finance.

Ms. Somers points to an example from her own life, several years ago, when her mother paid for a fence when her own family couldn’t afford it.

“Every time I look at that fence, it’s with gratitude to my mom, Ms. Somers says.

Living Inheritance and Reverse Mortgages 

Sometimes accessing finances are challenging especially if you want to give a “living inheritance”. Deferrals and reverse mortgages can be a great way to generate potential “living inheritance” for your kids and grandchildren. Watch my videos below to get better acquainted with reverse mortgages and referrals! 

Don’t hesitate to reach out to us for more information or any questions you might have.

Get Advice Before You Give 

Parents looking to provide a living inheritance to their kids should talk to their financial adviser first to make sure the sum doesn’t derail their own financial goals.

When well planned, the benefits can be many: from funding the grandchildren’s postsecondary education to helping adult children purchase a first home (or a vacation home) to saving for their own retirement or treating the entire family to a winter holiday in a warm climate.

There can also be financial benefits: Cash gifts, given while alive, will ultimately reduce the size of the estate, reducing probate fees costs and taxes on the estate, says Samantha Prasad, a partner in the tax group at law firm Minden Gross LLP in Toronto.

While gifting is common among her clients, she cautions they may not always foresee the potential impact of a gift on their tax and estate situation.

“It comes up all the time, but often along the lines of, ‘I did this. That’s okay, right?’ ”

There’s no gift tax in Canada, as there is in countries such as the United States, and no threshold for how much you can give, Ms. Prasad says.

However, she says so-called “attribution rules” may apply if you gift cash to a spouse, common-law partner or minor children or grandchildren and they use it for an investment.

“Any income from that investment can be taxed in the hands of the person who made the gift,” she says, adding it’s Canada Revenue Agency’s (CRA) way of preventing people from income splitting, which is the ability to sprinkle income to family members in a lower tax bracket.

Another misconception, she says, is that people can gift real estate, investments and certain family heirlooms without tax implications. Ms. Prasad says the CRA considers the exchange a deemed disposition, meaning any increase in value on these assets while owned by the parents may be subject to capital gains tax.

She says the best option is often giving money directly from savings, or selling an asset first, paying the applicable taxes, and then gifting the proceeds.

Regardless of how it’s done, Ms. Prasad says the will should be adjusted to account for the gifts made while alive.

“That won’t entail a full revision of the will,” Ms. Prasad adds. “But a memo should be attached noting who received the gift, its size and on what date,” ensuring division of assets remains fair among beneficiaries.

With the financial, tax and estate considerations taken care of, parents can then relish in witnessing their money doing good for their family, Ms. Somers adds.

“There are lots of problems that a gift of money can help solve,” she says. “It can be great at easing burdens, giving opportunities for experiences that might not otherwise be possible, and facilitate closer connections when an unreliable car or inability to pay for a plane ticket would have been a barrier.”

Source: The Globe and Mail

Angela Calla is a 17-year award-winning woman of influence which sets her apart from the rest. She is without a doubt, a true expert in her field. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code“, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click  here to view the latest news on our blog. 

living inheritance

Canada’s Economy Unexpectedly Contracted in Q2

Latest News Angela Calla 8 Sep

Housing Dampened Economy in Q2

This morning’s Stats Canada release showed that the economy unexpectedly contracted in the second quarter by 1.1%, down from the revised 5.5% gain in the first three months of the year. The Canadian dollar dipped on the news to $.7921 as questions of resiliency in the face of the delta variant mount. Economists in a Bloomberg survey were anticipating a 2.5% expansion. Adding to the disappointment, economic growth fell a further 0.4% in July, according to a preliminary estimate.

The weak GDP data reduces the odds of the Bank of Canada tapering their bond purchases at their policy meeting on September 8th. It also highlights the output gap–the degree to which the economy remains below full economic capacity–remains a big issue. The Bank has forecast the gap to close by the middle of 2022. While that remains uncertain, we continue to expect growth to rebound in the third quarter.

Increases in investment in business inventories, government final consumption expenditures, business investment in machinery and equipment, and investment in new home construction and renovation were not sufficient to offset the declines in exports (-4.0%) and homeownership transfer costs (-17.7%), which include all costs associated with the transfer of a residential asset from one owner to another.

Housing investment reshapes the economy

Since the third quarter of 2020, housing investment has emerged as the predominant contributor to economic activities and capital stock—with residential capital stock surpassing non-residential capital stock. Moreover, the average housing investment for the previous four quarters was 17% higher than the average over the last five years.

Housing investment

Both new construction and renovations—the components of residential capital stock—have shown sustained growth since the third quarter of 2020. Because of the ability to work from home, savings from less travel and reduced participation in other activities, low mortgage rates and increases in home equity lines of credit, spending has continued to increase on new houses (+3.2%) and home renovations (+2.4%).

After taking on $62.3 billion of residential mortgage debt in the last half of 2020, households added $84.2 billion more residential housing debt in the first half of 2021.

Supply chain disruptions continue to impact motor vehicles

Shortages of microchips and other inputs curtailed trade in motor vehicles and domestic consumption. Household purchases of new passenger cars (-7.2%) and trucks, vans and sport utility vehicles (-1.6%) decreased, while business investment in medium and heavy trucks, buses and other motor vehicles fell 34.2%. Longer plant shutdowns because of international supply chain disruptions have constrained imports of parts and led to significant decreases in exports. Low production of motor vehicles and parts resulted in an 18.9% drop in exports of passenger cars and light trucks and an 8.7% decline in tires, motor vehicle engines and parts exports. Inventories had another quarter of significant drawdowns in response to supply needs.

Double-digit household savings rate continues

The modest rise in household spending (+0.7%, in nominal terms) was outpaced by growth in disposable income (+2.2%), leaving households with more net savings than in the previous quarter. Household incomes were primarily bolstered by employees’ rising compensation and increasing transfers received from the government, which were partially offset by a 2.8% rise in personal income taxes.

Consequently, the savings rate reached 14.2%—the fifth consecutive quarter with a double-digit savings rate—as various pandemic-related restrictions and uncertainty continued to limit the scope of household consumption. The household savings rate is aggregated across all income brackets; in general, savings rates are greater in higher income brackets.

Bottom Line

Today’s release is, in some respects, ‘ancient history.’ It is still widely expected that the economy will rebound in the third quarter. With the surge in household savings and continued growth in personal disposable income, pent-up demand is likely to boost consumption for the remainder of this year. All eyes will be on the August employment report released Friday, September 10th. The Bank of Canada will likely continue to proceed cautiously. Another tapering of the bond-buying program will come under scrutiny, and forward guidance will continue to suggest no rate hikes until the second half of next year.

The source of this article is from SherryCooper.com/category/articles/

Angela Calla is a 17-year award-winning woman of influence which sets her apart from the rest. She is without a doubt, a true expert in her field. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code“, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click  here to view the latest news on our blog. 

Canadian economy unexpectedly contracted

Bank of Canada maintains policy rate, continues forward guidance and current pace of quantitative easing

General Angela Calla 8 Sep

The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance on the path for the overnight rate. This is reinforced and supplemented by the Bank’s quantitative easing (QE) program, which is being maintained at a target pace of $2 billion per week.

The global economic recovery continued through the second quarter, led by strong US growth, and had solid momentum heading into the third quarter. However, supply chain disruptions are restraining activity in some sectors and rising cases of COVID-19 in many regions pose a risk to the strength of the global recovery. Financial conditions remain highly accommodative.

In Canada, GDP contracted by about 1 percent in the second quarter, weaker than anticipated in the Bank’s July Monetary Policy Report (MPR). This largely reflects a contraction in exports, due in part to supply chain disruptions, especially in the auto sector. Housing market activity pulled back from recent high levels, largely as expected. Consumption, business investment and government spending all contributed positively to growth, with domestic demand growing at more than 3 percent. Employment rebounded through June and July, with hard-to-distance sectors hiring as public health restrictions eased. This is reducing unevenness in the labour market, although considerable slack remains and some groups – particularly low-wage workers – are still disproportionately affected. The Bank continues to expect the economy to strengthen in the second half of 2021, although the fourth wave of COVID-19 infections and ongoing supply bottlenecks could weigh on the recovery.

CPI inflation remains above 3 percent as expected, boosted by base-year effects, gasoline prices, and pandemic-related supply bottlenecks. These factors pushing up inflation are expected to be transitory, but their persistence and magnitude are uncertain and will be monitored closely. Wage increases have been moderate to date, and medium-term inflation expectations remain well-anchored. Core measures of inflation have risen, but by less than the CPI.

The Governing Council judges that the Canadian economy still has considerable excess capacity, and that the recovery continues to require extraordinary monetary policy support. We remain committed to holding the policy interest rate at the effective lower bound until economic slack is absorbed so that the 2 percent inflation target is sustainably achieved. In the Bank’s July projection, this happens in the second half of 2022. The Bank’s QE program continues to reinforce this commitment and keep interest rates low across the yield curve. Decisions regarding future adjustments to the pace of net bond purchases will be guided by Governing Council’s ongoing assessment of the strength and durability of the recovery. We will continue to provide the appropriate degree of monetary policy stimulus to support the recovery and achieve the inflation objective.

Information note

The next scheduled date for announcing the overnight rate target is October 27, 2021. The next full update of the Bank’s outlook for the economy and inflation, including risks to the projection, will be published in the MPR at the same time.

This article was published by the Bank of Canada and can be viewed here

Angela Calla is a 17-year award-winning woman of influence which sets her apart from the rest. She is without a doubt, a true expert in her field. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code“, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click  here to view the latest news on our blog. 

Team Banner housing market