1058 replies to this topic

[Matt R.]

The wage argument is interesting to me. Not enough doctors, nurses, plumbers, carpenters, garbage haulers, etc. Is this due to low wages as well? If we simply paid the nurse $4 an hour more would the problem go away?

At some point the wages just become unbearable and you close because you can’t charge enough to make it worthwhile.

We simply raise prices in lock step with wage increases. Server minimum wage up some 40% in five years I think.

[Mike K.]

Also, your expected tip rate is 20% now, not 15%, I assume?

[Matt R.]

Yah 18-20 for dine in is normal.

[Matt R.]

I also believe that the industry in our region of BC is oversaturated with food and beverage businesses. I expect more closures in the fall or winter unless Christmas blows the lid off of things but I don’t anticipate that this year.

[Matt R.]

The food and hospitality industry is big into having housing for its workers. I guess the nature of the industry is you have annual staffing changes and having a place for them to live makes retention possible during busy periods? It is odd, though.

Matt?

It’s odd? I don’t think so. Other types of businesses also have staff housing, shared or otherwise. Even government orgs have staff housing, like hospitals. The one here recently bought a motel and already contracts out enough lodging locally they have a web portal for it.

Staff housing is born out of a lack of affordable rentals, it hits nearly every sector not just food and bev so some forward thinking business people create their own affordable rentals for their staff and do an end run around the problem. All of the staff housing I am personally aware of runs at a loss, owners hoping to earn their nut at sale time.

A foreign worker would be regular full time all year as per their contract.

[LJ]

I also believe that the industry in our region of BC is oversaturated with food and beverage businesses. I expect more closures in the fall or winter unless Christmas blows the lid off of things but I don’t anticipate that this year.

I agree, do we really need that many restaurants, maybe shut down a third of them and then there will be lots of staff for the remainder?

[Mike K.]

Breweries closed in recent months:

Great Canadian Brewery (or something similar) in Langford
Swans Brewing
Vancouver Island Brewing outsourcing operations to Phillips

Somewhat recent closure:

Riot Brewing in North Cowichan

[GaryOak]

Gen Z is killing drinking

[Victoria Watcher]

Gen Z is killing drinking

 

 

[Mike K.]

Gen Z is killing drinking

They can’t afford it, because of the taxes.

Weed, the garbage that it is, is cheap. Most of it is illegally grown and distributed.

[Mike K.]

$1 billion battery plant in Maple Ridge has been scrapped. BC had pledged $80 million for the project, feds $204.5 million. The plant had been planned by Taiwan Cement Co.

[Victoria Watcher]

The federal government is likely to reverse course on increases to the capital gains tax that were announced in the last federal budget, CBC News has learned.

The Liberal government could delay implementing those changes, according to a high-level source with knowledge fo the government's plans. CBC News is not naming the source because they weren't authorized to speak publicly.

The exact plan hasn't been finalized, but a key option on the table includes ordering the Canada Revenue Agency (CRA) to stop collecting the new taxes for now.


https://www.cbc.ca/n...ersal-1.7446522

Edited by Victoria Watcher, 30 January 2025 - 03:50 PM.

[spanky123]

They got what they wanted already. Lots of people crystallized gains in 2024 to avoid the higher rate so that tax has/is being paid.

[Matt R.]

Refunds aplenty, maybe even some lawsuits to come?

[spanky123]

Refunds aplenty, maybe even some lawsuits to come?

Won’t be any refunds as people paid tax at the old rate. It is just that they wouldn’t have crystallized the gains at that point and only did so because of the threat.

[Matt R.]

No, the overpayments will be refunded.

Folks have paid the new cap gains inclusion this year already. They will be entitled to refunds.

Edited by Matt R., 30 January 2025 - 06:43 PM.

[Barrister]

This turning into a clown show on multiple levels.

[spanky123]

No, the overpayments will be refunded.

Folks have paid the new cap gains inclusion this year already. They will be entitled to refunds.

 

That is the point, they didn't pay the new rate, they paid the old rate which is why they rushed to crystalize gains. They can't now undo the sale of their assets which would be the only basis to undo the gain and taxes.

[Matt R.]

You don’t think anyone has or will pay the new rate and then apply for a refund?