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Woman of the Week: Lisa Grybowski

Lisa Grybowski is a licensed customs broker and vice president of Hemisphere Freight and Customs Brokerage. Her role is mixed, everything from taking care of the company’s billings and government claims, setting up technology systems, troubleshooting issues with clients, and helping clear shipments for specialized boats and cars.

Hemisphere is a boutique firm with only three licensed brokers, but it prides itself on top quality 24-hour service. They take one-time clients, are fluent in US customs brokerage, and are responsible for a number of temporary imports.

“Our biggest competition is the large carriers like UPS and FEDex. As an in-house brokerage firm, they can do it cheap and increase prices in our freight where we charge per clearance,” she said. “We hold our own. We have five employees set up at home so they can clear shipping. Not 1-800 numbers. Why would I come to you if you are more expensive? You pay for service.”

Hemisphere is a family-run business. It was started when Grybowski was born in 1986 by her mother, Penny Downer. Downer was a secretary for a customs broker and, after a while, she thought she could do it herself.

“Hemisphere was her second attempt,” Grybowski said. “My mom is an incredible story. She started this company as a single mom with three kids, and in this industry, when she started she was one of three women in the entire industry in Canada.”

“She started it on her own and by the time Charles and I took over the company, she had tons of clients. They all ask about her.”

Downer was diagnosed with Multiple Sclerosis and her health deteriorated quickly. Grybowski and her brother were thrust into the business, forced to learn the ropes quickly in order to keep the company afloat.

Grybowski has a background in general finance, so she was able to take on a portion of accounting at Hemisphere, but she had to learn a lot on the job. She eventually completed a course and received her brokerage license. It’s her job to be aware of what is happening internationally with trade agreements and how it affects the Canadian dollar, a challenge with the current political climate.

Now, we just got a free trade agreement with the EU,” She said. “That has increased business for us because there are no more duties between Canada and European countries. A lot of our businesses importing clothing has drastically increased.”

Over half of the employees at Hemisphere are women, something Grybowski is proud of. “My mom was keen on giving women opportunities. I sit at her desk now, and I try to keep that in mind. Trucking and operating is still a manly world.”

Grybowski is a part of the Women Presidents’ Organization, which is made up of women who have ownership of a company or hold the role of President. “We do roundtable discussions each month and that is where we can start generating ideas on how we can help other women,” she said. “We can talk about if we have problems with an employee and everyone gives their two cents; what we give for bonuses or gifts for clients; what do we think of new taxes on small to mid-size companies; a lot of things. My mom never had something like that.”

Grybowski said that while she never hears from a female customs broker, and all of the executives she works with are male, she doesn’t like to think of those barriers. “I think you need to have a voice, show persistence, and not really think of any barriers like the glass ceiling or whether you are the only woman in the room…If I know what I’m talking about and I can do a great job for [these executives], they become loyal business partners.”

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Amazon prohibits salary inquiries for gender parity

Amazon is changing their hiring policies to ban managers from asking applicants about their previous salaries.

This is part of a US policy that is meant to reduce the gender pay gap. California, New York, New Orleans, New Jersey, Dalaware, and Pittsburg are a few of the states that have already implemented this policy. According to the Labour Code, the bill would “prohibit an employer from relying on the salary history information of an applicant for employment as a factor in determining whether to offer an applicant employment or what salary to offer an applicant. The bill also would prohibit an employer from seeking salary history information about an applicant for employment and would require an employer, upon reasonable request, to provide the pay scale for a position to an applicant for employment.”

The idea is that if potential employers don’t ask, then everyone entering the position will automatically be given the same starting salary based on experience and job title.

It’s an interesting concept, but there are many who believe the law could backfire and actually increase the gender pay gap. If previous salaries, or salary expectations, are not discussed, assumptions regarding the worth and value of the person being interviewed could guide the hiring process to offer certain people a lower salary.

For example, women could be offered less money than they earned previously, and be forced to either re-negotiate or accept the offer. The argument against this ban is that if women are able to firmly state their expectations and previous salary, the number in the original offer will be able to more accurately reflect their value.

The transparency element of this policy is admirable. Companies will have to provide a pay scale for the position to applicants, meaning those being interviewed will have an idea of what kind of salary they should expect.

While this is a state decision, national companies are now being forced to use this new hiring policy across borders.

It’s still a little early to determine whether or not a policy like this one will help reduce the gender pay gap or cause further challenges for women in the workplace. However, it’s an intriguing attempt by governments to take an active role in gender parity in business.

What do you think? Let us know in the comments below!

3 rules to follow when he’s a saver and you’re a spender

I like to shop. Every single trend that could be found in the stores of a mall was, once upon a time, present in my closet. Even the questionable items. I buy candles for every corner of my room because one is never enough, and I once purchased face cream the price of multiple dinners at Sephora — merely because the make-up artist told me it was nice.

On the other hand, my husband likes to save. You know that thing at the bank called a Saving’s Account? He actually has one. While I scroll through my favourite online stores, he scrolls through his budgeting applications, all while checking on his many investments and stocks; a side hustle he plans to take advantage of during ‘rainy days.’ Frugality is his specialty. Extreme couponing, I think it’s safe to say, is one of his life time goals.

Like other couples, we have very different spending habits. Given this, it’s no surprise that money is the most common topic that couples argue about. A recent survey from the American Institute of CPA’s concluded couples argue at least three times a month about finances. Researchers believe the conflict may stem from failing to discuss money on a regular basis. Fifty-five percent of those surveyed who were married or living with a partner said they don’t regularly set aside time to talk about financial issues.

So, let’s talk.

Take these three steps to avoid the ongoing kerfuffle of choosing between the $14.99 or $19.99 bundle and thank me later.

  1. Communicate. You hear it repeatedly. So why is it so difficult to follow through? Talk to your partner about how you want to handle your finances as a couple, along with any individual expectations that you may have of one another. Discuss whether you want to share any expenses such as utility bills or groceries or if you want control over your own finances. Ensure you go over any debt that either of you have to take care of and that you are transparent when it comes to your purchases. What is the point of buying a car without a discussion if you have to drive around alone because bae is mad at you?
  2. Speak their language. Try using a reference from their favourite TV show and watch how googly their eyes get. Its important to be able to relate to your partner. Get on their level. If they start pricing matching or looking at deals, keep your cool – and let them be. Don’t try to change them and don’t let them try to change you. Habits build over time, making it difficult to break. Instead, take things away and implement them in your daily life. Find the positive aspects to their habits. Think about it; saving up for an emergency prevents either of you from having to get a second job if the time came. Thus, you’ll have more time to spend with each other. Because love.
  3. Have your own savings. Whether you agree to share your finances, contribute to expenses, or manage your own money, always have funds set aside solely for yourself. Although there are many advantages to a joint account, there will always be a reason to have at least one bank account dedicated for your own use. This is especially important if you and your partner are on different financial levels or if you have different spending habits. After merging two lives together, it can be easy to feel a loss of independence. By having something that is solely yours, you can guarantee you still have some control over your life.

Relationships take a lot of work to be successful. It’s about compassion, patience, and compromise. Despite this, you may still find yourselves butting heads with your partner from time to time over things you just can’t seem to agree on. Follow these steps to ensure you spend less time arguing about finances, and more time arguing about things that matter; like which show you want to Netflix binge (and chill). Lastly, don’t forget to give him a kiss when he splurges on you! Your relationship will grow stronger and better because of it.

Greedy Tim Hortons just lost my business

My heart bleeds for you Tim Hortons. Last year, you only earned $3 billion (US) in revenue, so with this minimum wage increase, I’m wondering how you will keep afloat? Those extra two dollars you now have to pay your hard working employees is bound to create havoc. Owners of the stores will need to work even harder to make ends meet.

Hopefully, you detected the sarcasm.

It was all over the news Thursday. A Tim Hortons, owned by the children of the business’ founder, has told employees they will no longer receive benefits or get paid for their breaks. The reason?  It’s that darn minimum wage increase. Without “assistance” from head office or the government, Tim Hortons apparently cannot afford to continue offering 15 minute paid breaks or health and dental.

Here are some of the changes Tim Hortons — at least this particular store — is making to accommodate the new labour laws:

  • Breaks will no longer be paid. This means that someone working an eight hour shift will be paid for seven and a half hours instead of the full eight.
  • No more bonuses for covering shifts when called on days off.
  • No “day of pay” when you have a death in the family and cannot work
  • Dental and Health benefits will no longer be covered. Those who have worked at Tim Hortons for five years or more will have to cover 50 per cent of the cost. Those working between six months and five years will have to cover 75 per cent of the cost.

Essentially, for some employees, having to pay 50 per cent of the cost of their benefits and with the loss of paid breaks, an employees biweekly paycheck could be even less than it was prior to the minimum wage increase.

But, the owners? Oh, they won’t be affected now. The revenue will continue to stream in. Problem solved, right?

This is what I hate about the world we live in. It’s run by greed. While small, mom and pop businesses have a right to be a little concerned, this province-wide freak out by large franchise businesses is disgusting. It’s proving that employers really don’t care about the people who work for them. It’s all about the bottom line, and if that means your cashier can’t afford to actually eat at your restaurant, then that’s too bad.

As a former Tim Horton’s employee, I know first hand how hard these people work. It is a fast-paced environment, with high expectations of quality and service. Most employees are immigrants or young people trying to support themselves and their families. They come in before the sun rises and sometimes leave after the sun sets. They cater to the whim of all customers, no matter how rude or inappropriate they may act. They clean bathrooms, work the food line, stand at cashier, and make runs to the garbage dump wearing t-shirts in -30 degree weather. They do all of this, every shift, regardless of whether they are feeling well or just spent the last 12 hours in classes or writing exams.

Can you imagine doing that job?

The raising of the minimum wage is causing unnecessary fear among business owners. They think they need to immediately cut staff and raise prices. A December report by the Bank of Canada didn’t help with its statistic that 60,000 jobs could be lost by 2019. But, can you judge the financial repercussions of these labour laws after only one week, based on predictions and rumours? As with most big changes, businesses need to give the process time to work. The economy will bounce back after a few months of uncertainty, and if it doesn’t, owners can deal with it at that time. Acting pre-emptively to ensure larger revenue does nothing but make you look foolish and heartless.

In fact, before making any changes to your business, I challenge every business owner, manager, or executive to try living off $14 an hour while paying into benefits. Do this for a year. Only then can you complain about the minimum wage’s affect on the economy.

As for Tim Horton’s, it’s a damn shame. As a fervent Timbit lover, I’m incredibly disappointed. The franchise is saying that each store owner has a right to enact their own rules, but this store is owned by the family founders. What kind of example are they setting for everyone else? This precedent is incredibly dangerous for those working for so little money to begin with.

Honestly, I would rather buy a more expensive coffee at a local business and reduce my caffeine intake than spend money at a restaurant that treats its employees with such disdain.

Sorry Tim Hortons, but you just lost me as a customer.

What is happening with Brexit?

Where does Brexit stand and will it affect you in anyway? In June 2016, over 30 million U.K. citizens made their way to the polls to vote on whether or not Britain should withdraw from the European Union. It was a move that was facilitated and led mainly by the current members of the opposition, the Labour Party. The results of the nationwide referendum was 51.9 per cent to 48.1 per cent, the majority voting to leave. There was an approximate turn out rate of 71.8 per cent.

These results were not what many citizens, or even members of parliament, expected, including that of the Prime Minister at the time, David Cameron, who resigned after the referendum.  Theresa May, the former home secretary, took his place. In the beginning, she was against the results of the vote, but changed her mind and moved ahead with Brexit talks after determining this is what most of the citizens wanted.

It’s been over a year since the decision was made. Talks commenced on June 19, 2017 and so far the UK is scheduled to leave the EU at 11pm on Friday, March 29, 2019. There are currently discussions taking place on how exactly Brexit will work and what this means for British citizens inside and out of the country, especially those living in EU member states.

Britain joined the EU, or European Communities, in 1973, along with Ireland and Denmark. In a mere 40 plus years of relations, the withdrawal will mean a lot of changes. The European Union is basically an economic and political agreement between 28 member states in Europe. It is a single market that encourages seamless flow of trade, work, and studies for member states. In a move to withdraw from the EU, one of the major changes will be a tightening on immigration. EU members will not be able to come and go as they please. This decision was highly criticized and was thought to be one of the main reasons why the UK, mainly England, wanted to leave.

Under article 50 of the EU agreement amongst member state, it says there must be two years of negotiations after giving notice of their request to withdraw. Both sides have to agree to the terms of the split. Once a deal is met, it will be presented to the members of council in the remaining EU states for approval. The deal needs to be approved by at least 20 out of the 27 remaining countries. If Britain does leave the EU in 2019, it is said they will seek a new customs and trade agreement with the rest of Europe, and EU law would no longer stand in the UK.

Scotland and Northern Ireland have, however, voted to remain in the EU, with Scotland’s Prime Minister calling the move democratically unacceptable. This is causing questionable friction within the member countries of the United Kingdom.

As a British citizen myself, I am concerned about the changes that will take place and what this will mean for residents living outside of the UK when it comes to emergency medical care, work, and study travel access. The UK has said they hope to keep visa-free travel in place for British citizens and EU members after Brexit, but there is no solid guarantee. If this is not the case, this can mean several years of permissions and proposals and increased costs.

In 2019, there should be a clear view of the terms of the exit. The framework for withdrawal will need to be approved by parliament, but another referendum could throw everything into chaos. However; May has strongly declared there will be no second vote.

What are your views on Brexit? Comment below

What you need to know about bitcoin and why it’s so popular

So, what is bitcoin and why should we be paying attention — or not paying attention — to this cryptocurrency. The decision is yours. Let’s start with the basics and to be honest, I’m learning about this as well. Bitcoin is a cryptocurrency or in its simplest form it is a digital form of money. These virtual currencies held whispers of being the currency of the future, which would make sense since we are living in an increasingly digital world.

Bitcoin’s origins can be traced back to 2008 and was founded by inventor Satoshi Nakamoto, a relatively unknown inventor who never came forward to the public. Some people believe he/she was operating under an alias. Nakamoto succeeded at what many companies failed to do in the 90’s — to create a digital currency. In fact, it was not his intention to create a digital currency, but to invent a ‘peer-to-peer electronic cash system.’ What does this mean? He essentially created a virtual market for trade that has no central entity or or single administrator. This virtual space enables worldwide payment and in this virtual market, trade is only allowed if specific conditions are met. This is the exact way a currency works and thus bitcoin was born.

Once a transaction is requested, it is validated through a code of algorithms sent to a peer-to-peer network. Bitcoin is not redeemable for any other commodity (as of yet) and doesn’t exist in a physical form, only in the network. The supply is not controlled by an administration like a bank.

As the buzz for bitcoin began entering the news space, it made sense for investors, banks, and even regular people to start paying attention and consider trading in this virtual currency. As of Jan. 1  2017, one bitcoin was trading for $960 per coin and as of Dec. 5, 2018 ,one coin trades for $11,816.93 USD.In Canada. that would trade for $14,990.48 CAD. It reached the $10,000 mark just last week. So much buzz has been generated by bitcoin and everyone has questions.

This is not the first time there was a surge in the proposed value of bitcoin. Back in 2013, major Canadian banks, such as RBC, TD, and Scotiabank, made the move to make it difficult for investors who trade in bitcoin to convert this digital currency into real cash. Back in 2013, one coin was going for a bit over $1000. Banks froze the accounts of Bitcoin traders and middlemen like bitcoin brokerages. Banks can collect millions of dollars in wire transfer fees, but in an uncontrolled bitcoin market there are no fees and as it is gaining popularity, many banks and financial institutions have started paying attention to their proposed digital competition.

The rise in popularity of bitcoin is determined by perception and interest in the market. The price of bitcoin is determined by the economic basis of supply and demand. For bitcoin to have value, people need to trust the adoptive use of this digital trade in the market-space. If you were to compare it to gold, which had a physical presence and is more demanding to acquire, supporters would say one bitcoin coin is easier to acquire though it doesn’t exist in a physical form. This trade becomes based on trust.

What can you purchase with bitcoin? Many technology companies have adjusted their payment models to include a bitcoin options, like Microsoft and Dell. Gift card companies for Walmart, Amazon, Target, and Nike now accept bitcoin. Jewelry and travel companies are also jumping on the bitcoin bandwagon.

With the anonymous and mysterious veil over the use of bitcoin, it also brought forth a negative impact. It can be used for illegal trade and potentially cause alarm for law enforcement as they try to determine how bitcoin can be related to issued in the real world. Also the fact it is unregulated leaves room for manipulation and fraudulent cases.

So, will bitcoin continue to rise and will more people put their trust into this digital currency? There are only two ways to go —up or down.

What are your thoughts or theories on the use of bitcoin and will this digital coin fare will in financial crisis? Comment below.

EDITORIAL: What’s the value of an employee?

What’s the value of an employee? Better yet, what’s the value of a human life?

A few weeks ago, the Ontario Liberal government announced a plan to increase the minimum wage to $15 in the next few years. After the press releases were handed out, two things happened — low-paying workers rejoiced and businesses started complaining.

Small businesses argued they wouldn’t be able to stay afloat if they had to dedicate more funds to their employees. Larger industries also criticized the government’s decision, saying they will be forced to cut down on labour and raise the prices of their services.

As someone who understands the perils of living on minimum wage, I don’t exactly sympathize. But, it’s one thing to make a business-case argument and another to dismiss the value of having a hardworking (and well-paid) employee at all.

In Tuesday’s morning paper, I saw an advertisement doing exactly that.

In the ad, a woman is standing at a counter preparing to take a customer’s card and complete a transaction. The text reads: “The Ontario government has announced a devastating 31.6 per cent increase in the general minimum wage. Quick Service Restaurant operators now have a choice….More than $15.00/hour or only $2.50/hour.” The advertisement is for a self-serving order kiosk, by RT7 Incorporated. Under the picture of the machine is a list of benefits such as “never comes late”, “no coffee breaks”, “no overtime”, and “doesn’t complain.”

This advertisement isn’t about technology or the future of restaurants — it’s about an employer who thinks his/her workers aren’t worth the sick days and overtime pay. It’s about labelling everything that employee does as something not deserving of being fairly compensated.

And that is absolutely unacceptable.

Advertisements like this one are incredibly dangerous. It makes the assumption that every day human actions like getting coffee or getting sick are somehow of detriment to a company. That human beings, especially those paid minimum wage, complain too much and use social media (a.k.a. are irresponsible).

This is not a stereotype that should be allowed to spread.

As Ontario pushes forward this new legislation, it’s important to remember that employees are, more often than not, hard workers. Many have large student loans or families to support. They may have a second job or may be in school. All they want to do is be able to afford a place to live and food to eat. It’s not that much of an ask, right?

If a business can’t afford their employees, they shouldn’t be allowed to remain open. It’s as simple as that. And anyone who thinks a kiosk can replace a human being, obviously hasn’t had to call the cable company.

What do you think? Let us know in the comments below!

Co-operative housing may be the way of the future in Toronto

Have you ever dreamed of buying a house, but didn’t have enough money?

It turns out with ‘C-Harmony: Creating Co-operative Connections’, it may be possible to still buy a home by joining with other prospective buyers. The concept comes from owner, Lesli Gaynor, who launched GoCo., an enterprise that helps facilitate co-ownership and runs the C-Harmony events. The first pilot event held last week brought together prospective buyers to meet in a speed-dating styled experience to see if they are compatible to purchase real estate together.

Gaynor came up with the idea when she co-purchased a home with a friend several years ago and shares her experience with others looking to do the same. GoCo facilitates events and support services to help with financing, the legalities of co-ownership, risk mitigation, finding partners and property, and establishing an agreement. Though the idea of co-owning seems unorthodox, the more you look into GoCo, and the steps to take to make it happen, it becomes a sensible way to buy in an expensive city such as Toronto.

Begin by calculating what your current rental payments are and average that amount to equal what you would pay in mortgage and expenses. This lays the groundwork for how much you can afford and what you could provide financially in a co-operative ownership. There are other issues to consider once you decide to proceed with co-owning such as discovering what your living needs are. Do you want two bedrooms? A backyard space? How many bathrooms? Once all this criteria is laid out, the idea is to find an owning partner who has the same needs, equitable finance and a compatible personality. Then you can set out on finding a property together.

Other key considerations include deciding how the property will be divided. There are many different ways according to GoCo. on how to proceed with co-sharing including living in the home together, or one party living in the house while the other invests money into it. Both parties would need to decide what works best for them and divide financial responsibilities and bills in advance to avoid any issues.

Though co-owning a home is a difficult decision to make, it is a progressive concept for community building in an expensive real estate market such as Toronto. GoCo. is giving a forum for people to join together and compete in the housing market, which will allow more families and individuals access to good homes. It will be interesting to see how this new speed-dating concept of co-owning proceeds in Toronto and if it grows in popularity.

Rail deck park is still on the table, but how to fund it?

Rail Deck Park is still on the table for Toronto, as the city debates whether the one billion dollar price tag on the 21-acre park is plausible.

Toronto Chief Planner Jennifer Keesmaat moderated an urban planning symposium, held by the Urban Land Institute Toronto (ULI) Tuesday, that discussed the implementation strategy for the controversial park project. In the fall of 2016, the city announced they would prepare a strategy to build a park between Bathurst St. to Blue Jays Way. The Rail Deck would use airspace above the railyard in downtown Toronto and close up a gap that divides the downtown area and makes it less walkable.

The park is controversial because it is incredibly expensive to build, estimated at one billion dollars as a starting point. That price tag doesn’t include the cost of purchasing the air rights over the rail deck, which is a necessity. A developer has already signed an agreement for air rights over the space and isn’t willing to go down without a fight. The city will have to work hard to obtain the space to create a park in downtown Toronto. It is a worthwhile venture though. It would be one of the city’s last chances to create a large green space downtown as open space becomes increasingly rare.

According to a November Forum Research Poll of Toronto residents, 51 per cent of respondents supported the proposed park and 38 per cent opposed it. Not surprisingly, 46 per cent of respondents felt that the space should not be paid for with public dollars. Though there are several issues remaining on how to budget the rail deck park, Keesmaat has confirmed there is already $350 million invested from developers that is earmarked for public space.

The Rail Deck Park is an ambitious, but worthwhile project. Green space in the downtown area promotes healthy tourism and is relatively simple to upkeep. It also provides Torontonians with more outdoor space, and a carbon sink in the middle of an area full of pollution. Hopefully, the rail deck park can become Mayor Tory’s legacy, and it will be enjoyed for generations to come. Until then, it will be interesting see if the funding can be found.

What’s the deal with Toronto’s revenue tools?

The City of Toronto is facing a budgeting crisis with over $91 million worth of funds to find by City Council. Several revenue tools were presented by city manager, Peter Wallace in an effort to find money to fill the gaps and pay for all of the projects that are much-needed in Toronto.

Terms like ‘property tax’, ‘municipal land transfer tax’, ‘parking levy’, and ‘expressway tolls’ , are being thrown around like crazy, and it is easy to get lost in the world of financial terms. Understanding the inner-workings of the various revenue tools is the best way to decide which financial tools should be adopted by the city and which of them should be discarded. That’s why Women’s Post has created this guide, to help our readers understand the ins and outs of the revenue tools presented in the executive committee, and what terms will be flying around next week at city council.

Property Tax

Property tax is a commonly used revenue tool and is most often brought up in city council. A property tax is a levy on a property the owner is required to pay. It is set by the governing authority of any given area, which in this case is the municipality of Toronto. Property taxes in Toronto are a hotly contested issue because Toronto property tax rates are the only metropolitan tax that is lower than the surrounding area, the GTHA, and politicians don’t want to raise them. The city has proposed a two per cent property tax hike, but Toronto Mayor John Tory vows to raise the property tax no higher than half a per cent. Instead he is pushing for alternatives instead of pushing more tax on property owners.

Municipal Land Transfer Tax

Municipal land transfer tax has been a popular option for Toronto in the last year and helped keep the property tax inflation rate at bay in last year’s budget. The municipal land transfer tax is a fee that is paid by the person who purchases the home to the municipality that is charging it. There are rebates for first-time home buyers and other jurisdictions, such as Vancouver, have imposed a foreign land transfer tax to help lower inflation in the real estate market. It is a useful tool, but was used in the 2016 budget so may not be a viable option when looking at other options for 2017. City Council will discuss harmonizing the Ontario land transfer tax with the municipal option, which would require legislative changes but would streamline the process in the long-run.

Personal Vehicle Tax

The personal vehicle tax has been a revenue tool that was presented in the past before at City Council and was not a popular option. Council will consider the re-introduction to tax $120 per vehicle annually, but Tory has stated he is not a big fan of this option. The rejection of the personal vehicle tax has angered environmental groups who want to see people choosing to drive vehicles in the city pay extra taxes. The personal vehicle tax is also an easy and quick tax to implement because it doesn’t require any extra infrastructure.

Hotel Tax

The hotel tax revenue tool is being hotly contested by the tourism and hotel industry, which has already seen slowed growth due to the increasing popularity of air bnbs and other short-term stays. By placing an extra tax on the hotel industry, it may put more pressure on hotels to pay when they can’t afford to do so. Tory rebutted in the executive committee though that the annual subsidy supplied to hotels would help pay for the hotel tax if it were approved. This revenue tool would require provincial legislative and regulatory reforms, and is not a popular option in regards to fairness, efficiency, and is low in revenue quality according to Wallace’s presentation.

Expressway Tolls

Expressway tolls are the newest revenue tool to be introduced by Mayor Tory and is a popular option. The expressway tolls would require vehicles to pay a fee when they use the Don Valley Parkway and the Gardiner Expressway. If the city charged $2 per trip, the annual revenue would be $166 million per year. The start-up cost to build the expressway tolls would be an estimated $100-$150 million and have ongoing operational costs of $50 to $60 million. The expressway tolls would require provincial legislative changes, but could be implemented in the 2017 budget. City Council will be focusing heavily on tolls next week.

There are many other revenue tools that were presented including an alcohol beverage tax, a parking levy, a third party sign tax, graduated residential property taxes, and a municipal sales tax. From the climate of the executive committee meeting, it would be surprising to see any of these options be approved. They have not been given the same amount of attention as the hotel tax and expressway tolls. A graduated residential property tax and a municipal sales tax in particular require provincial legislation changes and were listed by Wallace as aspirational changes to be further discussed in 2018.

In order to fully grasp the many revenue tool terms that will fly around at City Council next week, focus on the most important options that are available. Also remember to bring popcorn. Even though discussing financial tools can be a bit of a bore, City Council is sure to get lively when discussing the various revenue tools that were presented for debate.