March, 2022 - CCI GRAND RIVER

Education, Information, Awareness, Canadian Condominium Institute, Southwestern Ontario, Condo owners, Golf Tournament, conference 2022

Getting Personal With Your Tax Filing

March 31, 2022/in Educational

Personal tax season is approaching quickly! We wanted to provide a general guide on how to get ready for submitting your income taxes.

Collecting your information

Missing information is the most common place to make a mistake when filing your tax returns. There are a lot of tax forms and other paperwork to consider when preparing your return; or collecting your paperwork for your accountant.

Here are some common tax slips and other important documents to consider:

· T4 – Employment income – this will come from your employer and summarizes wages for the year

· T3, T5 – Investment income – these slips will show dividends, interest, and trust income that you receive from non-registered investments.

· T4AP, T4OAS – These show income from your CPP Pension and Old Age Security, if you are experienced enough to receive these amounts!

· T4RSP, T4RIF – These slips show income drawn from your RRSP, or from your RRIF, if your RRSP has been converted at age 71.

· T4E – this shows any income you have from Service Canada for Employment Insurance – most commonly for unemployment or paternity benefits.

· RRSP Contributions – if you’re contributing to an RRSP, either on your own or through your employer, you should receive a contribution receipt for March – December 2021, as well as one for January/February of 2022.

· Charitable Donation Receipts – any registered charity that you have donated to during 2021 should issue you a receipt listing the eligible donation amount, as well as their registered charity number.

· Medical expenses – if you have significant medical expenses (there is a threshold you must exceed to get credit), the cost of out-of-pocket expenses is a tax credit.

· Temporary Flat Rate Method for Home Office Expenses – this deduction introduced in 2020 has been extended to 2021 and 2022. If you worked from home at least 50% of the time for at least four weeks, you are eligible to claim a $2/day deduction without any supporting documentation required for every day you worked at home. This is for working days – so don’t include any weekends, statutory holidays, or vacation days you didn’t work from home.

A full general tax preparation checklist can be found here on the RLB website – alternatively contact your accountant for a checklist personalized to your situation.

If you are self-employed, you’ll need to summarize your income and expenses – you can find a template here to help put things in the right category to report. Keep in mind if you have taxable sales over $30,000 per year you are required to register for HST.

Similarly, if you have a rental property, you’ll need to summarize your rent collected and your expenses against that rent.

For both self-employment and rental income, anything you pay out of pocket to earn income is an expense against income. Make sure you consider vehicle expenses, home office expenses, and parking.

Preparing to file

Once you have all your information and documentation, you can get ready to file! Using a tax professional is a great option if you aren’t comfortable with the process of filing tax returns, or if you have complex tax issues such as capital gains or investment properties. Providing complete information to your tax preparer is important to help ensure nothing gets missed. Consider including a copy of your 2020 tax return as well as your Notice of Assessment with the information you give to your tax preparer.

You can also file your return on your own. CRA provides a number of free electronic filing options on its website here. It is recommended to review your 2020 tax return before completing 2021 to make sure there isn’t a tax slip that hasn’t arrived in the mail yet, and that everything makes sense when you compare year to year. It is very important to make sure you report all income as there are severe penalties for unreported income.

The “Shoulda, Coulda, Wouldas” of Condominium Repairs

March 24, 2022/in Educational

By a show of hands, how many of us have ignored a simple repair, only for it to become a large, complicated pain later on?

Whether it was a case of not having enough time, or not knowing whose responsibility the repair fell under, one ignored repair can oftentimes turn into a stack of pricey problems.

So, how do we avoid the “should, coulda, wouldas” of condominium repairs? Oftentimes, it’s beneficial to retrace our steps and go back to the root of the problem.

Understanding Core Responsibilities

Whether condominium manager, unit owner, or building owner, it’s important to understand each other’s core responsibilities. Concerned if a leaky pipe is yours to fix? Make sure your board is aware of all issues as soon (or as close to) as they occur, and that professional advice is sought after right from the get-go.

Know Your Condominium Resources

When was the last time there was a scheduled general walk-through? Is there a contractor that your condominium typically uses? Having regularly scheduled walk-throughs and communicating the appropriate dates with all parties is crucial to building a community of trust. Organize regular check-ins within your condominium community to nurture an environment where hiding, or downplaying a repair issue becomes a seldom habit.

Don’t Ignore the Small Stuff

It’s tempting. A small crack here, one leaky faucet there. It won’t hurt anyone, right? Unfortunately, this is something we are all guilty of. Don’t put off tomorrow, what you can do today. It’s never a good feeling when you walk into a problem, knowing that if it had been handled earlier, it wouldn’t be running up your financial bill as high as it is now.

Hearing the word “repairs” shouldn’t send your body into a shockwave. If you backtrack to the root of what derailed a complicated repair issue, it can typically be summed up into those three parts: not understanding core responsibilities, being unaware of crucial resources, and ignoring the “small” stuff until it explodes in your face.

Cultivate your community, and always remember to reach out to your condominium board for any support or advice you may need.

Maggie Matian
Marketing Manager for CCI Grand River

SPRING FORWARD – in Your Condominium Landscaping!

March 17, 2022/in Educational

It’s March! With the first real warm rays of spring about to caress our faces, our thoughts turn to the warm days of summer and once again enjoying the outdoors!

Now is the time to get things approved to ensure your condo community can benefit THIS YEAR from the investments you make! At your upcoming Board Meeting, create a plan to discuss your outdoor landscapes. What provided enjoyment over the past year(s)? Are there any spaces that could benefit from a “refresh”? Is there a larger project, that by pre-planning now, could experience a successful start for enjoyment in 2023? Are there areas that provide safety concerns for unit owners?

Here are some ideas to consider now in the expectancy of warmer days ahead.

Turf Enhancements.

The best defense against weeds and unwanted pests is a healthy lawn. While many annual landscape maintenance contracts include regular fertilizer applications, this is often where turf care stops for condo boards. Regular, proactive care relating to your turf can save thousands of dollars in the long term. Consider adding regular weed treatments, core aeration, topdressing and seeding to your regular care. Many properties have turf areas that are heavily shaded and/or where there is high foot traffic; grass just won’t grow. Consider amending these areas by replacing the compacted earth with mulch and/or stepping stones.

Mulching your Garden Beds.

Mulching is one of the best things you can do for your gardens. You have likely seen the positive impact that is immediately evident following an application of fresh mulch. Not only does mulch provide a barrier for weed growth, mulch also helps your garden retain the needed moisture allowing plants and shrubs to thrive. Mulch will help prevent rainwater from washing away your soil. Furthermore, if you use an organic mulch (shredded pine bark mulch is recommended), it will release valuable nutrients in the soil as it naturally decomposes.

Rejuvenate Shrubs and Garden Beds.

Over time the existing garden beds and shrubs on your property can really start to show their age. Depending on the amount of maintenance they receive in an ongoing manner throughout the year, a rejuvenation is a fantastic way to provide an immediate improvement that will be evident to all owners. A rejuvenation involves horticultural pruning to shrubs such that new, fresh growth is encouraged. The early days of spring are optimal to have this service provided! Not only will this provide a fresh, new look, it is also very healthy for the plant material.

Enhance Entrance Signage.

How is your complex distinguishable from others in the neighbourhood? Are the name and address visible? Adding (or enhancing) your entrance sign will provide a positive focal point for visitors and potential buyers. Adding some lighting will provide for year-round interest as you enter and leave your complex. From a safety perspective, a well-placed and visible sign is a beacon in times of emergency for first responders.

Corrective Drainage Solutions.

Spring run-off and melting snow accentuates the wet, soggy areas of condo properties; we all know where the wet spots are on our properties! Given the high density of the building projects in recent years, there is less surface area for spring runoff and rain water to be absorbed into the ground. Pooling of water can also occur in areas where the ground has been saturated. A corrective measure, while not providing an impact that can be seen, will solve an annual nuisance and provide enjoyment for years to come.

Create a Place for Community.

Do you have an area that is frequented by many of your unit owners? Is there an underutilized common area? Consider the impact that adding a community garden might have. Permanent benches added in common areas give the message “stay a while”.

The coming weeks can provide a great opportunity for planning to ensure success in the coming warm season of 2022. We all know the intensity that spring provides: spring clean-ups, scheduled walk-arounds, etc. Moreover, your service provider’s capacities will be most stretched in the busy days of May and June. Proactive planning in March and April allows for project scheduling so your ideas can be implemented in a timeframe that works for you. There is no better way to jettison the ugly memories of grey snow piles than to anticipate the arrival of spring.

Make it an agenda item for your April board meeting!

Andrew Westrik, Sales Manager/Landscape Sales
www.wpn.ca

5 Tips to Keep Your Virtual Meetings Productive

March 10, 2022/in Educational

Whether it be a virtual meeting, conference, or webinar, either can be tough to get through while keeping them productive. Being behind a screen for the last couple years has taken away any excitement that was left behind the simplicity of virtual meetings.

Floods of “can you hear me’s”, paired with an ominous blank screen staring right back at you. It can be exhausting to lead any type of proactive discussion. Can they hear you? Is your screen frozen? Have they muted you while they go about their other tasks?

You can’t control everything that happens on the other side of the screen, but you can be proactive to ensure that you set yourself up to lead your next virtual meeting with ease.

Make sure they know who will be leading the meeting.

Meeting, conference, or webinar: your audience and team will want to know who will be the main speakers of the event. This should be detailed in all communication, from the first event invite, to all social posts and any update after. By giving your meeting a “face”, you humanize the digital element of the virtual meeting.

2. Greet every guest as they come in.

Certainly, you make sure to greet guests as they come in, but how many could you confidently say are given a personal greeting? If you find yourself in the middle of a conversation with one guest, and another guest has entered, try to find a way to work them into the conversation. Invite them to participate, or politely interject that you acknowledge their presence. By doing this, not only do you elicit a guest to use their “off-mic” option, but you may even see a camera or two turn on.

How you start your meeting will determine the mood throughout the lecture. Making and maintaining a connection with your guests is imperative to virtual meeting success

3. Let guests know when they can ask questions.

What may seem obvious to you, may not to another guest. Before you formally start, take a moment to relay how you will be presenting your material, and when you have planned for questions. Be clear if you’d prefer they keep their questions until certain parts of the presentation, or if you can take questions while presenting.

Additionally, remind your guests of the use of the “hand up” tool on most virtual conference apps. Not only does this feature give a polite nudge to the speaker that someone would like to speak, it also puts them in order. As long as you are taking questions from left to right, then you are going by the order in which the hands were raised.

If you have set time aside at the end for a Q&A, make sure your audience knows this prior to starting the lecture. You may have some guests who will stress about not having enough time for you to answer their questions if you don’t answer them in the middle of your presentation. By letting them know that you have set time aside, you are alleviating any unnecessary stress that anyone in your audience may be feeling.

4. Make time for breaks.

This isn’t as crucial if your meeting is under an hour.

However, once you start ranging on the 1.5-2 hour mark, you should be planning for a quick break.

The unofficial rule for breaks is 5-minutes for every hour. So, for 1.5-hours, that’s approximately 7-minutes. No matter the content, staring at a screen for long periods of time is draining. Breaks are necessary for ensuring your guests have the capacity to take in new information and have the energy to continue to participate in the meeting.

For example, if you are hosting a 3-hour meeting: plan for a 15-minute break at the 1.5-hour mark. Ask your guests to return within 10-minutes, and then not only do you have a 5-minute buffer for any straggler, those final few minutes before you pull the focus back on you, but your audience is also free to engage together across the screens

5. Give everyone an opportunity to speak at the end of the meeting.

After your Q&A (if you have planned for one), take a moment to give your guests the floor to speak on any final thoughts they may have.

This is also where you want to include and/or summarize the next steps, not only for yourself but for any attendee you’ve allocated any kind of responsibility to.

For example –

Mary will have the report by next Friday.

Jerry will touch base with Mike by end of the day.

The speaker will send out meeting notes by tomorrow morning.

You’ll want to aim to end your meeting with the same energy as you’ve started. No one should be leaving your meeting feeling drained, and uninspired to carry out their task. Luckily for you, you’ve followed our 5 tips to ensure your meeting was successfully executed!

Maggie Matian
Marketing Manager for CCI Grand River

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Going Electric: Electric Vehicles in Condominiums

March 3, 2022/in Educational

Do you have an electric vehicle, or would you like to get an electric vehicle, and are wondering how to charge that electric vehicle at your condominium? Electric vehicles are becoming more and more common, and that is fantastic news for the environment. But is your condominium equipped to deal with this change?

If you are unsure about your condominium’s rules and infrastructure regarding electric vehicle charging systems (“EV charging systems”), start by checking the following resources:

Read your condominium’s declaration and rules.

If you do not have copies of the declaration and rules already, ask your property manager and/or board of directors. Does the declaration and/or rules discuss electric vehicles and EV charging systems? If you live in a newer condominium, the documents might. If you’re in an older condominium, the documents likely do not.

When reviewing the electric vehicle provisions in your condominium documents, consider whether they answer the following questions: who pays for the installation of the EV charging system? Who pays the ongoing costs, including monthly hydro bills, maintenance and repair, and insurance? Hint: it’s probably you.

Review your rights under the Condominium Act, 1998 (the “Act”).

Under the Act, an owner can apply to the corporation for an installation of an EV charging system. That means you can ask the board if you can install an EV charging system, and if your application complies with the Act, the board has only a limited list of reasons why they could reject your application. Reasons for rejection include, but are not limited to, if the installation will pose a serious risk: (1) to the health and safety of an individual, or (2) of damage to the property or assets of the condominium.

If your application is approved, you must enter a written agreement with the corporation regarding the installation which will be registered on title to your unit. Again, the requirements for the agreement are set out in the Act. The agreement will discuss, among other things:

the manner of installation and cost-allocation for installation of the EV charging system;
duties and responsibilities of both the corporation and the owner, including costs of use, operation, repair after damage, maintenance, and insurance of the EV charging system; and
ownership of the EV charging system.

The corporation can also propose an EV charging system installation to the owners, and if approved by the owners in compliance with the Act, the EV charging system can be installed by the corporation with the costs of the system installation being common expenses of the condominium.

Speak with your property manager and/or board of directors.

You might not be the first owner to approach your property manager or board with this question, and they may already be considering EV charging system options that could benefit you and other owners.

Electric vehicles are becoming increasingly common, and it’s time for condominiums to get on board!

Annie Bailey, Associate Lawyer
www.rcllp.ca