Gord Hundal, VP, Commercial Financial Services, RBC

RBC has been a pioneering financial institution when it comes to fulfilling the needs of new Canadians. The bank’s Welcome to Canada package helps customers with their personal and small business needs. However, RBC also has an extensive commercial banking offering to help entrepreneurs flourish in their business. Recently, Generation Next had the opportunity to talk to Gurinder Singh (Gord) Hundal, the Vice President Commercial Financial Services. He is responsible for RBC’s Business Clients in the industry specializations of Business Services and Retail and Franchise Markets for the Peel market.

A typical client in Gord’s portfolio “would be someone who’s got revenues of more than $2 million, more than five employees, some degree of complex ownership—they are multinational, they have some sophisticated cash management product, and they could have some credit needs or maybe they don’t have any credit needs. An example of a client in our portfolio would be a law firm with about $20 million in revenue, about 10 lawyers on staff, is complex in the sense that it’s a partnership structure, and they have lots of different needs.”

RBC helps these clients with their borrowing needs, deposit needs, as well as with everyday banking needs. “From the borrowing perspective,” says Gord, “we help them with term loans or leases for equipment, operating lines of credit, to help them manage their cash flows and commercial mortgages to help them buy real estate, which is something a lot of our clients seem to be doing these days.”

As a representative of a bank that prides itself on its outreach to the South Asian community, Gord finds South Asian clients highly sophisticated when it comes to commercial banking. He gives an example, “I am thinking about this restaurant owner—he has owned and operated businesses in India, Pakistan as well, and they have an understanding of how businesses can be supported by banks.” Gord says RBC’s commercial clients and South Asian clients rely on four key pillars—convenience, advice, service and value for money. He explains further, “My team works with business services in retail clients. So any clients that are business-services or business to business, or business to consumer on the retail side of things—law firms, accounting firms would be part of our portfolio, as would be restaurants, gas stations, small retailers, marketing companies. So we, by providing specialized advice help our clients because we’re familiar with their types of businesses, but we also have the opportunity to understand that there’s a difference between a business-services client, say a law firm and maybe a trucking company.

For Canadian companies that are based here and looking to do business internationally, RBC helps them navigate globally. The bank provides such clients with industry-specific advice and professional services, competitive foreign exchange rates and flexible credit solutions. RBC’s global network of premier financial institution helps their clients gain a wider perspective too.

With regard to enhancing the level of financial literacy among their South Asian clients, RBC takes a case-by-case approach. Says Hundal, “Someone starting off a business will have a very different conversation than someone who’s perhaps at a point where maybe they want to transition the business to maybe want to sell the business.” The bank also spends time with clients to introduce them to law firms or accounting firms that can help them get better financial literacy.  Additionally, RBC is involved with the Newcomer Centre of Peel to help new Canadians get acquainted with the finer aspects of Canadian banking and finance.

Commenting on current trends, given the economic downturn, Hundal says business clients seem to be showing cautious optimism when it comes to borrowing or investment decisions. However, he adds, “our business clients that have identified growth and are looking at new growing markets such as the Bramptons and the Mississaugas of the world are definitely still borrowing money to help fund that growth.”

One of RBC’s core values is “Diversity for Innovation and Growth.” Describing his own role in furthering diversity within his organization, Hundal says, “I am the Executive Champion for the Greater Toronto Area, newcomers to Canada, employee resource group—it’s an internal group that promotes resources and sharing of experiences within RBC so that staff who are new to the country can have the opportunity to connect, share best practices, and be introduced to various other members of the RBC family. I have also taken on several individuals to help mentor people who have demonstrated strong business and financial acumen and need to get a better understanding of how you do business in Canada, what is leadership in Canada. It’s something I am very passionate about and devote a lot of my time to—coaching, nurturing and sharing some of my experiences with some budding South Asian talents and individuals.”

RBC has also taken initiatives to promote cricket in schools. Generation Next asks Hundal about the wisdom of this investment. He explains the initiative is part of the bank’s commitment to growing healthier communities at the grassroots level. Recalling an anecdote around the game, he says, “A couple of years ago, in my previous role, we actually had an internal cricket match between two markets for our branch leaders. First of all, it was a lot of fun, and the majority of my team and the team we played had never played the game before, but having the opportunity to play a game of cricket, our sales leaders developed an understanding of the game, why our clients are so passionate about cricket.”

In a similar vein, Hundal tells Generation Next readers that “On February 20, eight locations across the GTR are going to host free skating sessions. It’s an opportunity to get out and skate, embrace the Canadian sport of hockey, and win possibly signed jerseys and just have some real fun on our family day. In our experience, a lot of our South Asian clients are excited by this opportunity because they never had the opportunity to go to a rink before. By hosting this event, we are introducing a key fabric of the Canadian community to a community that wants to learn and live and try a sport that’s popular here in Canada.”

With its twin objectives of smart banking and building healthier communities, RBC is likely to win a lot of appreciation from the South Asian community in Canada. And that may well translate to winning more clients.

The frustrations of getting employed in Canada are often particularly severe for new Canadians, a group that often sells most or all assets in their jurisdictions of birth in the hope of a new life in Canada. Often times, whether by design or compulsion, new Canadians are driven to starting a business as a source of livelihood. While the success stories from such opportunities are many, the decision to start a business has legal ramifications and a business should be commenced with as much planning and legal advice as possible. At the forefront of the business decision is a determination of the appropriate vehicle to use for such purposes.

This article focuses on the use of a corporation as a business vehicle and canvasses some of the basic issues to be considered in this regard. This article is for informational purposes only and should not be construed as legal advice.

Benefits of a Corporation

A corporation is often the first vehicle of choice for entrepreneurs. While carrying on business as a sole proprietor (i.e., without any formal business vehicle) is often the easiest option, a sole proprietor is personally liable for the liabilities and obligations of the business and may unknowingly expose his/her savings and assets to creditors and any other person having a right of action against the business.

The use of a corporation allows an entrepreneur or new business owner to protect personal assets and savings from the liabilities arising from the business. It provides a corporate veil that may not be pierced otherwise than in egregious circumstances. It also allows for the conduct of the business through a proper business vehicle, allows for sophisticated tax planning if the business is successful, and may enable the business owner to access outside funds (whether through loans or investments) more efficiently.

Incorporation Basics

Incorporating a corporation in Canada is a simple yet complicated task. On one hand, a corporation can be incorporated without legal or accounting help. On the other, a proper incorporation done with the help of sophisticated advisors can be effective and a cost-saver in the long run.

A corporation may be incorporated federally or in any of the Canadian provinces. Some provinces like Nova Scotia also allow for incorporations of unlimited liability companies, a tax planning vehicle not considered in this article. The key distinction between a federally incorporated and a provincially-incorporated corporation is that the former may carry on business in any province or territory (provided that it complies with the applicable registration and reporting requirements of each province) whereas a provincial corporation is required to obtain an extra provincial licence and register in any other province where it carries on business.

Incorporation is done by filing articles of incorporation along with the preparation of the relevant by-laws. The corporation should issue shares on incorporation (although technically it may be possible to incorporate a corporation without share capital). Shares are issued to shareholders in return for consideration that could include cash or property (a contribution of property in return for shares may require a tax election to ensure that the contribution may be made without any immediate tax consequences).

A corporation must choose a name for incorporation purposes. If no specific name is chosen, the relevant incorporating agency will issue a default name (usually a name identified by a unique number). If an actual name is sought for the corporation, a search for the particular name must be conducted in order to determine if the name (or extremely similar versions thereof) is already in use, in which case the name may not be available. Different jurisdictions provide different levels of protections for names, and depending on the jurisdiction of incorporation a name may or may not be available for use. It should be noted that the availability of a name for incorporation under a federal or provincial statute does not usually provide protection for that name from an intellectual property standpoint. Appropriate intellectual property registrations must be considered for such protection.

A corporation must also provide for a minimum number of directors and have at least that minimum immediately after incorporation. Most Canadian statutes require a minimum number of Canadian directors for corporations incorporated under such statute. For example, Ontario requires that at least 25 percent of the directors of a corporation incorporated in Ontario be resident Canadians. It should be noted that there is no such requirement for the shareholders of a corporation (except in protected sectors).

Generally, a corporation has the capacity and, subject to its governing statute, the rights, powers and privileges of a natural person. A corporation is usually not restricted by its articles from carrying on any business or businesses or from exercising any power or powers. A corporation must choose a financial year-end in its by-laws. The initial by-laws usually also provide rules for a host of other major issues relevant to the operation of the newly incorporated corporation (e.g., annual proceedings, notices and returns, shareholder meetings, proxies etc.).

Tax Registrations and Rates

A corporation must register itself for tax purposes. Generally, the act of incorporation should result in an automatic business number from the Canada Revenue Agency (“CRA”). Otherwise a business number may be obtained by completing Form RC1 (available on the CRA website). A corporation that makes taxable supplies must also register for the Harmonized Sales Tax. Where appropriate, payroll accounts and/or import/export accounts must also be registered.

A corporation is required to file an annual tax return within six months of its year-end. Under certain circumstances (e.g., an amalgamation or an acquisition of control), the taxation year may terminate early, in which case, the corporation must file a tax return within six months from the date of such termination. Harmonized Sales Tax Returns must be filed annually, quarterly or monthly depending on the volume of the corporation’s taxable supplies.

Corporations are taxed at different rates than the rate of tax on individuals. To this extent, incorporating a business allows the incorporator the opportunity to defer tax if the income of the corporation is not passed on to the shareholders immediately. A simple example illustrates this point. An individual resident in Ontario and carrying on business as a sole proprietor will pay tax at the highest marginal rate of 46.4 percent and may end up paying tax at that rate on part of the business income in the year in which such income is earned. On the other hand, if the business is carried on through a corporation, the rate of tax on the corporation will vary from 15.5 percent to 28 percent (discussed immediately below). If the corporation does not pass on its after-tax income to its shareholder immediately as a dividend, the difference in the rates of tax allow for deferral of the additional tax that would have been paid had the individual earned such income directly. It should be noted that the combined rate of tax on corporate income and on income received as dividends by an individual shareholder will be similar to the rate of tax imposed on an individual earning business income as a sole proprietor, and hence, the deferral is only available if a corporation retains its income and does not pay it out immediately as a dividend.

As noted above, a corporation is taxed at rates varying between 15.5 percent and 28 percent (these are combined federal-provincial rates applicable to a corporation paying tax in Ontario at the time of writing). The rates of tax applicable to a Canadian-controlled private corporation (i.e. a corporation not controlled by non-residents or public corporations) are 15.5 percent for active business income up to $500,000, 28 percent on active business income in excess of $500,000 and 46.2 percent on investment income. A corporation that is not a Canadian-controlled private corporation pays tax at 28 percent on active business income and investment income and 26.5 percent on general manufacturing and processing income. Generally, income taxed at normal tax rates can be paid out as dividends to individual shareholders resident in Canada at a lower rate of tax than income taxed at the lower tax rate.

Conclusion

This article is a simple discussion of the benefits of the use of a corporation as a business vehicle and the advantage of using a corporation from the commencement of the business. It is not an exhaustive discussion of corporate and tax issues surrounding a corporation. Readers should consult a legal advisor about the exact issues pertaining to their unique business and individual circumstances.

Ron Choudhury is a partner and member of the firm’s Tax and Mining Groups and Estates and Trusts Litigation Team.

Over the years, the streets along Young and Wellesley have hosted an eclectic array of ethnic restaurants that would satisfy even the toughest and most critical of taste buds. Whether your tummy grumbles for Indian food, Chinese, Italian, Greek or just plain fast food a good stroll along the streets of Toronto can usually provide the typical dining daredevil with a wide variety of delicious options to choose from.

For Muhammad Haddis, the owner of The Ethiopian House restaurant, surviving in a competitive and thriving restaurant atmosphere, for fifteen years, has proven that traditional Ethiopian hospitality continues to entertain the imagination and stomachs of his customers.

“We have been here 15 years,” replies Mr. Haddis confidently, “and we see a lot more restaurants like ours popping up. When we started there were not many restaurants like us especially with our location, which is mostly downtown. So it mostly comes down to the quality of the food and the atmosphere and the ambience and the décor, these are the things that make it different from others.”

Being ‘different’ from other restaurants, is an understatement for Mr. Haddis and his staff. Often new customers to the Ethiopian House experience will first notice that their table bears no cutlery in sight.  Mr. Haddis explains that this unusual table setting is not as uncommon as one might think.  “Well, we use our hands to eat like a lot of South Asians and other cultures do as well, but instead for us the food is mostly eaten in a communal way from a big platter.” For many regulars to the Ethiopian dining atmosphere, washing of the hands at the restaurant before and after a meal is a common custom that is followed to maintain cultural rituals.

When asked what the most popular dishes are, Mr. Haddis chuckles before replying that it mostly depends on his customers’ preferences.  “For the vegetarians, they order our veggie combo and for the meat eaters the meat combo. However, the Injera which is a flat bread that looks like a sponge cake that is really popular with customers. Some others may call it Dosa in South India. Actually the flavor and taste might be similar in nature to some South Asian foods but the presentation and the way you eat it is a little bit different. “ With both combos served together with the famous Injera bread, customers can delight in the traditional platter sized meals destined to provide a variety of options on each plate when dining at the Ethiopian House.

As Torontonians continue to delight in the slightly dated décor and music choices, of the Ethiopian House restaurant, it will ultimately be the unique and authentic Ethiopian experience that will continue to bring these hungry stomachs yearning for seconds.

By Staff Writer

I love the holiday season- the food, the events, the lights, and of course, family and friends. It is a joyous time of year for many, and no matter your beliefs it can be an opportunity to spend time with your loved ones.

It’s a chance to be thankful for our blessings and hopeful for the coming year. Many people get into the holiday spirit with hot meals and blazing fires, and by giving back to the community.

There are times throughout the year when political, cultural, and religious differences divide us, but truly this is a time of year when we should put aside our differences and come together in a sense of peace and joy.

No matter your background or beliefs, loved ones are often the center of our lives and one of the gifts we all share. Spending time with family and friends is something no one should take for granted, and must be cherished and appreciated. Often we forget our blessings as we struggle with our curses, but no matter the stress we feel, there is always something to be thankful for.

It’s important to remember those among us who are currently separated from their family and waiting to find out when they can be re-united with them. This could be for many reasons from families separating for work, to family members being stationed abroad, to families waiting in the long immigration backlog to be reunited here in Canada.

With the introduction of a two-year moratorium on sponsoring parents and grandparents, it may be more difficult for individuals to be reunited with their family. Because of this moratorium, many of us will be waiting an additional two years before we are even able to apply to sponsor our parents and grandparents. That’s if the moratorium is ever lifted!  While this government has introduced a new “Super-Visa”, financial limitations may prevent some families from purchasing the requisite medical insurance and paying for the other requirements of this visa.

I am lucky enough to have had my grandparents come to Canada from Sri Lanka, and I am forever grateful to have the opportunity to spend time with them. However, not everyone will get this opportunity.

Providing assistance for individuals in need and the less fortunate is not only important during the holiday season, it is something we should be mindful of all year round. Those of us who are blessed must be thankful, grateful and giving, and not lose sight of what’s important in life. Uncertain economic conditions mean that many people have fallen on hard times and the holiday season can be stressful for these individuals. As a community, there are many ways in which we can support those in need, whether it be supporting the many community organizations that are collecting gift donations or donating your time in other ways.  These efforts can inspire us and to give back however we are able and maintain the holiday spirit all year round.

And when we do have doubt, I remind you of the words of the late Jack Layton, “My friends, love is better than anger. Hope is better than fear. Optimism is better than despair. So let us be loving, hopeful and optimistic. And we’ll change the world.”

The holidays are a time of year for positivity, cheerfulness and love. I wish you nothing but the best for this holiday season and the coming year.

Happy holidays everyone.

Rathika Sitsabaiesan is NDP MP from Scarborough-Rouge River. She is the first Tamil to be elected in the House of Commons.

“Why do people need an occasion to set goals for themselves? Shouldn’t the fact that they have something they want to change be motivation enough?”

It is that time of the  year again, that festive time when everybody starts stuffing their stockings and decorating their trees. Kids have time off school, and adults from work. Along with the gift giving and holiday cheer also comes time for a serious thought.

Once again, it is the time for New Year’s resolutions. People must think of the one thing they are going to do differently in the New Year. Whether it is losing weight or finding a job, there is a change that people desire to make in their lives.

After speaking with thirteen different people about their previous New Year’s resolutions of 2011 and their planned resolutions of this coming year, I have heard some interesting things that they had to say.  Nineteen year old, Samandeep Sahota explained that her resolution last year was “to go to all of my classes, during the end of the semester I start to skip a lot of lectures”. Upon asking if she had fulfilled her promise, Sahota replied “for the most part. I mean, I probably should have made a more realistic resolution since I forced myself to go to classes when they really weren’t necessary or when I was sick.”

Sahota was not the only one who dreaded last year’s resolution. Twenty-three year old, Bhaven Kapadia, explained that his resolution last year was to gain weight and become more fit. “My resolution was more frustrating than it was motivating”, he explained. “When I got through half the year and realized that I still hadn’t reached my goal, I just gave up. I think that New Year’s resolutions just give people high expectations that disappoint them when they aren’t reached.” I asked Kapadia what his resolution would be this year, he replied with “nothing, I don’t really think I accomplished anything this year, it’d be pointless for me to try again.”

Surprisingly, not everyone viewed their New Year’s resolutions as negatively as Sahota and Kapadia. Adarsh Kaur, forty-five year old woman, explained that her resolution last year had been achieved. “I wanted to spend more time with my husband and son. I find that I work a lot and with my son graduating high school soon, I should devote more of my time to him.” Kaur explained that her resolution was quite well thought out as she was able to fulfill it, and it benefitted her family and herself.

Besides Kaur, another person who provided me with positive feedback was fifty year old, Joga Riar. “My main goal of the New Year was to volunteer more around my city when I got the time.” Riar continued to explain that his resolution proved to be both rewarding to himself and helpful to his community. “Resolutions should be a reflection of who you are as a person. As long as you want to achieve something that is meaningful to you, you should have no problem fulfilling them.”

Hiren Rangunwala and Neil Khatri both had similar resolutions last year; to do well in school and on tests. Rangunwala, twenty-three year old male, was concerned with passing his United States Medical Licensing Examinations to get placement after completing medical school. “The pressure was so high”, Rangunwala explained. “Since I’d made it my New Year’s resolution to get placement, I guess that I had more motivation to study harder. I didn’t want to let myself down. Once I got the notice that I’d done well on my tests and would be starting my rotations, I attributed my success to my resolution.”

Like Rangunwala, eighteen year old Khatri explained that the most worrying thought he had last year was whether or not he would make it into the university of his choice. The difference between these two individuals is that Rangunwala gave the credit of his achievement to his resolution, whereas Khatri explained that “the resolution was just there as a guide, I know that I accomplished my goal on my own merit and hard work.”

Not only did people tell me about what their resolutions were last year, they also revealed to me their resolutions for this coming year.

Twenty year old, Janki Kapadia, explained that although she did not have a New Year’s resolution last year, she made one for 2012. “I really need to learn to cook. I never thought it was necessary before when I lived with my brother and parents because I always had people to do it for me. I think the ability to cook is an essential skill for one to have if they are living on their own.” Kapadia is not the only one wishing to make a change involving food.

Twenty year old Manpreet Jhass also has a food related desire. “I need to eat healthier. Whenever I come home from work or class, I just grab whatever I can get my hands on. Chips, soda, cookies, anything really.” Jhass recognizes that there are many people who wish to lose or gain weight. “I don’t necessarily hope to lose weight. I just want to live a healthier lifestyle.”

Fifteen year old Simran Uppal has made her resolution far from anything relating to food. Uppal explains that her one goal is to control her temper. “Lately I’ve noticed that I get angry really easily, especially with my older brother. My anger makes everyone in my family stressed out so I think I should learn to control it. For a teenager, Uppal seems to be quite sensible, a lot more than I was at her age.

A complete contrast from Uppal was thirty year old, Dhaval Mashruwala. “I guess that the only thing I need to change is the way I let out my emotions. I suppress a lot of things, especially when I’m angry”, explains Mashruwala. “It would be better for me to express how I really feel instead of hiding things from people.”

Parag Khatri, also at thirty years of age, is making his New Year’s resolution all about his personal life. “I think I need to settle down”, stated Khatri. “I need to stop focusing so much on going out to parties, and focus more on my career.”

Twenty-four year old Bindya Bhundia, like Khatri, defined the importance of her career. “I don’t know what to make my New Year’s resolution this year. I think it should involve me finishing school and starting my career, though. I’ve been in school for over twenty years, I think it’s about time I started the next chapter of my life.”

The last person I spoke to about the upcoming New Year was Ram Pyari, seventy-six year old woman. Pyari explained firstly that she does not make resolutions. “Why do people need an occasion to set goals for themselves? Shouldn’t the fact that they have something they want to change be motivation enough?” Pyari’s comment is interesting as it represents a completely different opinion than all others I had spoken to. It is open to interpretation, do you find New Year’s resolutions straining, encouraging, or do you find them needless altogether? Either way, remember to think carefully about what your resolutions will be this year, but in the process, don’t forget to have a Happy New Year.

By Gagan Batra

With large amounts of scrunched up wrapping paper, turkeys  and eggnog cartoons finally laid to rest in recycling bins or bulging bellies, holiday fans are slowly snapping out of their Christmas food coma’s to realize that 2012 is already peaking its head from around the corner.  In anticipation of the official ten second ‘countdown,’ many holiday celebrators often take this brief intermission between Christmas and New Year to assess the success or failures of the resolutions they’ve made only twelve months ago.

Whether it was a promise to lose weight, quit smoking, or to merely spend less, the long list of the usual resolution topics has floated around consistently from our interviewees into three common areas of interest: health, finance and kicking bad habits. As many of these resolutions are frequently derived from a necessity to self improve and change one’s lifestyle, it is not surprising that New Year promises are often formed with the overall betterment of oneself in mind rather than others.  For many, it is merely a reminder to put yourself first.

For 25 year old Sharda Persaud making resolutions was never a tradition she followed or even cared about trying until after graduating college. “The necessity to buy my own things and do my own things is what motivated me” explains, Ms. Persaud. “When I started working after college, I said that every year that I would start saving more and more money, so I don’t have to rely on my parents and I can pay for my own things.”

Much like Ms. Persaud, Michelle Sankar, describes her initial resolution blossoming from an overall need to make a change in her life. However, for Ms. Sankar the need to change arose not from financial reasons but from a more personal need.  “My first resolution was made at the age of 24 (kind of late I know). I was prompted to make the resolution due to feeling dissatisfied with myself and wanted to develop my personal interests further. I followed through because I had recently gotten out of a relationship and realized that I had lost my own way of life and was living my ex’s life which was sedentary and unhealthy. I wanted to change that and be totally different. I wanted to have something positive that would take a large portion of my time.”

As both Ms. Persaud and Ms. Sankar relay the success of these resolutions to our Generation Next reporter, their success is not often shared by the great many that are often unable to complete their resolutions.  Pat Lekhraj, an Executive Assistant and a mother of three, explains that her hectic work and home schedule often affects her goals each year. “Every year I make the same resolutions. Get my driver’s license and lose weight and I never make the time to accomplish any!” As Ms. Lekhraj continues to make the same resolution each year since she was 25 she chuckles lightheartedly about her determination to keep on trying as the necessity to change still remains. “Put it this way, I am 39 and I still don’t have a driver’s license!”

Ken Katryan, a 28 year old Horse Trainer and Owner describe similar feelings of just being too busy to carry through on his resolutions. “I’ve made a New Year’s resolution before but never kept one of them” replies Mr. Katryan to Generation Next. “I don’t know what makes me do resolutions each year but I do. It was a couple of years ago that I started making resolutions when I started to put on some weight.”

For many like, Ms. Lekhraj the failure of following through on a resolution is not what any person really hopes for. The initial passion to complete a resolution is often carried through and often gradually lost over time. Mr. Katryan explains that “I would usually follow through on my resolutions for the first month, then with work and not going to the gym and being busy prevents me in the end.”

As the constant failure of a resolution can eventually become depressing or discouraging for some, it is sometimes better to pick a more short term and simple resolution. Mr. Pokhrel, a 28 year old Social Service Worker reiterates his belief in making goals that are not only doable but easier to accomplish each year. “I was 17 years old when I made my first resolution. I had just come to Canada from Nepal. I never made resolutions in Nepal, only when I arrived here in Canada. It is a more popular tradition here. Some of the resolutions that worked for me like applying for college, and keeping my grades up were some of the more successful resolutions I made.” With keeping his goals to more practical and specific targets, Mr. Pokhrel is able to use his smaller achievements as platforms for some bigger resolutions he has his sights on. “It’s all about focus. If you focus on what your resolution is and not feel restricted to a year to achieve it, then it is possible.”

As 2011 slowly expires with each passing day, the pressure for new beginnings and promises are in full effect for the upcoming 2012 year. Whether it is to shed a few pounds, build up your bank account or merely kick that annoying habit the common advice offered from all our participants was unanimous regardless of age and sex: whatever you make for a resolution, make sure that it keeps you in mind first because in 2012 you’ll need it!

By Anna Katryan

“Everyone, whether they have a job or not, will need a place to live—whether it is in an apartment or a home. Especially in the South Asian community, we can get a house anywhere without a job because we can live together and share a place. So the house market has not been affected in the GTA for that community.”

Mike Chettri has worn many hats throughout his life. Blossoming over the years as the familiar immigrant taxi driver to the neighborhood corner store owner to what he is most known for, a booming real estate agent within the GTA, Mr. Chettri has finally found a hat that he will not only wear with pride, but ultimately keep for good.

With his name engraved as the 2011 Hall of Fame recipient, apart from his fellow four thousand other Remax agents in the GTA, Mr. Chettri attributes his success to mainly his customer service skills that have eventually resulted in many word of mouth referrals. “I teach all my clients about how to handle their money. I give them advice on their house and where to buy. That is what made me on top. It made me stand out.”

With his ten years of customer service in the real estate industry, Mr. Chettri has shared with our Generation Next reporter a few of his words of wisdom for potential buyers looking to take advantage of the next hot thing in the real estate market.

As condos within the downtown core are becoming somewhat of a trophy item for young professionals, Mr. Chettri encourages investors that it is a worthwhile investment for not just the younger generation, but the older ones as well. “The youth in the next generation are definitely interested in the condos for living, but the older generations are buying condos for investments. Since I work mostly with condos, the way that I see it is that the condo market will remain strong. Right now the condo market is selling approximately 700 dollars per square foot. If you buy one condo now, in three years, the price will be 1,000 dollars per square foot. So for every square foot it would be a 300 dollar profit. Over the next three years, the condo market in Toronto will grow stronger.”

As condos continue to be sought out, there are still many factors that individuals should consider before taking that next step. Mr. Chettri cautions new buyers on what factors can become a major assets when deciding on where one chooses to live. “Look at the city plans over the next five years of where you want to move to. See what is being developed so that in five years the price will go up in your investment.” Thinking ahead is the key to Mr. Chettri’s advice to his clients as many buyers can later flip their investment into a profit that will ultimately land them in a bigger and better property in the future.

Even with the recent economic setback, with many Canadians struggling to find full-time jobs, Mr. Chettri is optimistic that this will not have a great impact on the real estate market. “Everyone, whether they have a job or not, will need a place to live—whether it is in an apartment or a home. Especially in the South Asian community, we can get a house anywhere without a job because we can live together and share a place. So the house market has not been affected in the GTA for that community.”

With the GTA continuing to fill orders for more condos and houses to be built for their clients, residents are becoming more and more familiar with the buzzing chainsaws of the 6 am morning construction worker. Mr. Chettri believes that many residents should take this as a sign, especially for potential investors, as he believes that the high property demand has yet to be satisfied with enough supply.

With their signs littered across the GTA, many residents have often identified Homelife Maple Leaf Realty Ltd. agents solely from the familiar names seen hammered firmly into the front lawn of a neighbours house.  As many happy property owners can affirm, choosing a Homelife agent provides comfort in relying on an organization that has already become a force to be reckoned with within the industry.

With their independent agents usually hard at work throughout the year, it was a pleasant reunion for many in attendance Friday evening at the annual Homelife Maple Leaf holiday appreciation event held at the Versailles Convention Centre.  Agents shared with utter delight through friendly whistles, clapping and loud cheers as peers were awarded throughout the evening with a much deserved trophy or plaque.

Mohammad Rafi, a rookie agent with Homelife for nine months was one of many awarded recipients at the event. He gladly reflects with our Generation Next reporter on the overall importance of being appreciated as a fairly new agent within a competitive industry. “At the end of the day you want appreciation and these kinds of events are always good to have. However, deep down inside only you will know what you are capable of.”

As new agents were honoured for their vast accomplishments achieved within a short time, Homelife also acknowledges those agents whose success has earned them great respect within the industry.  Nav Sidhu, a well known veteran agent within the Homelife Maple Leaf Realty organization was a proud recipient honoured within the evening as well. As an agent who has been around for many years Mr. Sidhu extrapolates on the importance of choosing a knowledgeable agent . “[An experienced agent] has a good reputation and is known which is why it is important to make sure you are getting the right experienced agent. Knowledge is very important, and experience really counts, people look for experience.”

Narender Sehgal, the enthusiastic host of the evening expressed to Generation Next his belief in these agents will continue to do well in the housing market for 2012. “The market is going to stay solid. As far as the CMAC is concerned they said that the year 2012 is going to show a 8-12% higher result than 2011. For the condo market, there are some predictions but we will wait and see.”

When asked if he believes the South Asian community will have a stronger role within the housing market in 2012, Mr. Sehgal was quick to express a high expectation from the South Asian community. “I can assure you one thing. The South East Asian community has been the force in the residential and commercial market. You can see the share [they] capture in the market and I think [this share] will continue to increase day by day.”

As many of the Homelife Maple Leaf Realty agents end their 2011 year on a high note of sucess, Mr. Sehgal like many others throughout the evening maintain that 2012 can only get better. As Homelife looks to expand their number of agents in the coming year, readers can be assured that signs will be out in full force once again bearing the all too familiar Homelife Maple Leaf slogan for 2012.

It’s that time of year again. Restless shoppers’ break out the wallets and rev up their rusty credit cards, holiday bonuses, and paychecks hoping to find that perfect gift for the many beloved names etched onto their holiday wish list.  With Christmas only a few days away, the commercial galore within the GTA is in full effect for shoppers who have become frantically obsessed with ‘gifting’ their feelings through tokens of appreciation. For many seasonal shoppers, the desire to appease both the commercial and personal pressures of the holiday season is usually a tricky feat to manage.

Alliyah Khan, a 27 year old chartered accountant explains to Generation Next that her shopping ritual is often driven by multiple motives that can be broken down into two distinct categories: obligation and tradition. “I feel a sense of obligation towards my boyfriend’s family because I feel like I have to get them something and because his mom always gets me something. With my boyfriend and my friend, it’s a tradition. We’ve kept this up for quite a long time and I don’t want to end it.”

Buying gifts out of obligation for extended family, co workers, and casual acquaintances can often add to the stress of budgeting over the holiday season.  For Ms. Khan, the overwhelming need to buy gifts has compelled her to shave off the names that are no longer a necessity. “I don’t give gifts to anyone else because I hate shopping and I hate thinking of gift ideas. I used to get gifts for my siblings as well but now that we’ve all grown up, I find it’s harder to think of what to get them. Most of the times, they can’t even think of what they want or if they even want it [and if they do] they would probably go buy it themselves.”

Reducing the size of your shopping list is often a great way for shoppers to maintain their holiday budget and make each gift more meaningful.  For Swechchha Pokhrel, a 23 year old student and Early Childhood Educator the role that her holiday budget plays each year ultimately dictates who makes or does not make her list. “I don’t usually have a budget but if I know I can afford certain things then I will buy it. It all depends on how much I earned. Having a full time job will mean I have more money to spend, but since I am still  a student and part time worker, I am not left with very much choice.”

Another great and trendy option for those hoping to survive the gifting frenzy is seen by those willing to purchase items online. Although, this method may take some pre-planning strategies it allows many budget conscious buyers to seek out the best web deals and save the stress of standing impatiently behind a ridiculous cahier line up. Lemar Kumar, a 26 year old banker, reiterates the growing appeal of switching shopping methods. “I do most of my shopping at the malls because I [usually] start shopping too late to wait for online deliver. If I had enough time I would do all my shopping online.”  For online shoppers, placing their trust on the postal system is merely small price to pay to avoid the madness that fills the local malls at this time of year.

Audrey Lau, a 27 year old Executive Assistant and HR Coordinator describe the relief that buying online has given her especially within her busy work schedule. “Ebay for example is wonderful because you can get a good price for most things and they will ship it right to your door! No line-ups and I can do this in the comfort of my own home.” For many young professionals like Ms. Lau saving time through easier shopping methods can only enhance the holiday giving experience. After all, as Ms. Lau states, “a little festive spirit during the holidays is a nice reminder to show appreciation.”

Here are some helpful shopping tips our shoppers had to offer to maximize your shopping experience:

1. Do your holiday shopping early! You can avoid the stressful crowds and not get sucked into spur of the moment purchases while waiting in lines.

1. Create a shopping list. It can help keep you on track with a budget and keep you focused on the people you value most.

1. Do your research. Look for good sales via online and in flyers to ensure you are getting the best prices for your items.

1. Although some feel strongly against it. Re-gifting items that you will not find useful can save both money and offer a better home to that unwanted item collecting dust in your closet.

By Anna Katryan

Minister Jason Kenney has cooked up a controversy by legislating that women wearing niqaab be banned from citizenship ceremonies.

“..any individual will have to show his or her face when taking the oath of citizenship,” declared Mr. Kenney in Montreal.

“Allowing a group to hide their faces while they are becoming members of our community is counter to Canada’s commitment to openness, equality and social cohesion,” he explained.

But does banning niqaab indicate “openness, equality and social cohesion” of the Canadian society?

As a progressive woman, I oppose wearing burqa, niqaab, veil, etc fully. I will confess hijab, I’m okay with. Coming from a fairly conservative society of Faisalabd, I fear the women who hide behind black veils. I am fully aware that these women are very modern in their private lives –  haircuts, make-up styles, dress code when they are among their families. Their wearing burqa does not necessarily mean to me that they are suppressed and oppressed in the confines of their homes or in the open Canadian society.

When I watch these burqa and niqaab clad women in the aisles of grocery store behind or in front of me, I wonder if they are defying the very essence for which Muslim women cover their breasts and hips as said in the Holy Quran. The spirit of covering head or wearing niqaab or burqa is to not attract opposite gender’s attraction.

But in the Western societies such as Canadian, don’t these women end up attracting attention of not only men but everybody in the society by dressing up differently? In the Canadian society, aren’t these women propagating same sort of extremism that people like Tariq Fateh spew in mainstream media.

I do not believe that Mr. Fateh represents anything that I stand for just as I know that burqa-clad women are not representative of my beliefs.

Having stated that, I also detest the government’s interjection in ordering Muslim women to take off niqaab – anywhere, period. If wearing a niqaab means not showing the face, doesn’t wearing bikini mean showing too much skin, leading police officers to make statements like women should not dress up like sluts?

Just as security people at the airport make accommodations so that these women can be screened by female officers, similar sort of arrangements can be made by the government to see, really see if these niqaabis are indeed saying the words of the Canadian oath, the oath that makes us open, tolerant and socially cohesive.

I have lived in Pakistan. I know that I cannot choose to live the way I want to in Islamic Republic of Pakistan. That’s why I left my parent’s home country and decided to immigrate to Canada.

Can I not live the way I want to even here, in Canada?

I wish Mr. Kenney would really understand visible minorities he has taken an oath to represent.

By Huma Nazir

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Niqab – No Niqab

By Qasim Abbas

Recently Canada’s Immigration Minister Jason Kenney has introduced with immediate effect the rule about “no veil” at the time of oath of citizenship.  The logic and justification behind this rule is proper identification of oath taker.

As a Muslim, knowing what Muslim Scripture the Holy Quran says about this type of controversy, I fully support Immigration Minister Jason Kenney about this “no veil” rule at the time of oath of citizenship.

As a matter of fact, Muslim Scripture Holy Quran is very clear about following and obeying “law of the land” i.e. “current law in force”.  Here is justification in light of Holy Quran:

As per Verse 4:59 of Holy Quran, as under, one has to follow and obey the “law of the land” i.e. “current law in force” i.e. Muslim believers men and women have been ordered by Allah to obey those lawmakers who are charged with authority:

“O believers, obey Allah, and obey the Messenger, and those charged with authority among you. If you differ in anything among yourselves, refer it to Allah and His Messenger.” (4:59)

Based on above Verse, this is open truth that as per the Canadian law, when the Muslim women have to be temporarily without Niqab for the purposes of issuance of passport, P.R. Card, Health Card, Driver License, Visa Application and so many other documents, in fact and in reality, they do follow the above Verse and obey those charged with authority among them, in good faith and in true spirit, and they remove their Niqab in order to show their faces for identification to the authority and their photos taken without Niqab for the above documents.

Based on the above justification, Muslim women have to remove Niqab at the time of citizenship oath, as ordered by Immigration Minister since they are ordered by Allah to obey those charged with authority among themselves and in this case of citizenship oath, they have to obey Canadian government officials in the same way when they obey officials charged with authority while applying for above mentioned documents and their photos taken without Niqab.

Also at the time of Hajj i.e. pilgrimage, which is fifth pillar of Islam, women are ordered to keep their face open i.e.no Niqab in Hajj by women.  It means if Niqab is on, Hajj is not complete.  Similarly, if Niqab is on, citizenship is off.