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RRSP / TFSA Program Documents

All the documents that you will need to use as part of the RRSP program are available here for download. Current forms for Co-ops 1a-Co-op-Support-Manual-for-the-CWCF-SD-RRSP-TSFA-program 1b RRSP & TFSA Associate Member Agency Agreement 1c Worker Coop Application Form 2a RRSP Declaration of Trust – English 2b RRSP Declaration of Trust – French 2c TFSA Declaration of Trust – English 2d TFSA Declaration of Trust – French 3a-RRSP-Application-Form-Bilingual 3c-TSFA-Application-French 3b TFSA Application – English 4 TFSA & RRSP Designation of Beneficiary 5 RRSP and TFSA Plan Fee Schedule 5a RRSP and TFSA Plan Fee Schedule – Associate Member 6 RRSP & TFSA Payment Authorization Form CWCF 7 RRSP & TFSA Deposit Form 8 RRSP & TFSA DirectTransfer-In 9a RRSP Worker Cooperative – Annuitant Declaration 9b TFSA Worker Cooperative – Annutiant Declaration 10a RRSP Worker Cooperative – Specified Cooperative Corporation Share Declaration 10b TFSA Worker Cooperative – Specified Cooperative Corporation Shares Declaration…

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Worker Cooperatives: Pathways to Scale

This paper aims to help build the field of U.S. worker co-op development by providing a current view of the cooperative landscape and by analyzing factors that inhibit or promote cooperative development. Although informed by the cooperative giants in Europe, this analysis highlights lessons learned through the development and growth of worker co-ops in the United States. Click here to download the guide.

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Worker Co-op Resource Guide

This Resource Guide, in the form of web links to practical documents, is designed to be used as a reference guide by people considering the start-up of a worker co-op and organizations that support business development of various types, as well as by worker co-ops that are operating. Worker-Co-op-Resource-Guide_fnl_2015  

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RRSP Changes Guide Part 2, January 2013

January 24, 2013 Important Proposed Changes to Co-op RRSP Rules, by Hazel Corcoran If individuals in your co-op hold co-op shares in a self-directed RRSP, there are two important updates which CWCF wants to bring to your attention.  These updates are relevant in cases where individuals (or individuals along with related parties) held 10% or more of any class of the shares in a co-op on March 23, 2011, with some or all of the shares in RRSPs.  People in this situation are eligible for the transition relief provisions (meaning they need not pay the penalty tax), and the rules for transition relief are being changed for the better. Previously, for individuals who filed a form (RC341) with the Canada Revenue Agency by June 30, 2012, the transition relief period lasted for 10 years. The two changes which have been proposed by Finance Canada are to change the deadline to…

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What is Sweat Equity?

by Peter Hough, April 2003 Sweat equity is generally considered all the voluntary unpaid work that is often required in the first years of a new business. This work is usually unpaid because the new business cannot afford to pay wages or salaries during start-up. The commitment by members to provide sweat equity is often essential for the success of the business. Several issues are often raised around sweat equity: How does one ensure a fair or equal contribution between members and how can the sweat equity be recognized within the accounting system? It may be desirable to show the sweat equity within the accounting system for then the investment of work by the members is recognized on the Balance Sheet. This increase in the members’ shares makes it clear to outside lenders or investors how much the members have contributed to the business. Another result in accounting for the…

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Succession Planning Using the Worker Co-op Option

Excerpt: Succession Planning: An Opportunity & a Challenge The succession issue for small and family-owned businesses has grown due to the large number of small business owners nearing retirement. Studies in places as diverse as Australia and Quebec, have demonstrated that well over 50 per cent of small and medium sized businesses will face this challenge in the next ten to 15 years. At the same time, the overall percentage of employees working for small and medium-sized businesses has grown. There are currently 124,000 family businesses, each with sales of $1 million or more, in Canada. These companies employ about six million Canadians and generate as much as $1.3 trillion in gross annual sales. (Financial Post 2001) Successful successions are important not only to those immediately involved but to the economy at large. They are also important, not only to the owners and their families, but also to the many…

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Using Financial Models

Presentation by Peter Hough Objective: To learn to develop and use basic financial models to assist with budgeting and other financial decisions. Benefits: Assists in decision making: Shows relationship between financial parameters Easy comparison of options Sensitivity analysis – easy to vary the assumptions of multiple relationships Helps to make judgments on level of risk a decision carries …continued in attachment. Using Financial Models_0

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So You Want to Retire

Presentation by Peter Hough Excerpt: Key Issues: -Founding and Long Term Members Retirement Security Relinquishing member/ownership and it benefits Worker Co-operative New Members Viability Cash Flow Debt Load Knowledge Transfer …continued in attachment. So You Want to Retire_0

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Preparing and Marketing Financing Proposals: A Plain Language Guide for Worker Co-ops

Excerpt: The purpose of this Guide is to help you navigate the financial planning and marketing process for your co-op. There is really no distinction between what your business plan and/or financing proposals need in order to get approved by financiers and what your co-op needs in order to succeed. As a general rule: whatever is of priority to potential financiers is also important for your co-op’s business success. This guide is divided into two sections. The first, Preparing Your Financing Strategy, describes the various forms of financing available to a worker co-op and their characteristics. It discusses concepts and issues to consider regarding financing options when putting together a financing strategy for your start-up or already-operating worker co-operative. The second section, Marketing Your Financing Proposal, addresses the issues and processes involved in presenting financial proposals to prospective financiers. …continued in attachment. WorkerCo-opCapitalGuideFNL-2012

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