Holiday Gifts or "Secret Commissions"?

This article discusses the practice of giving holiday gifts to employees and staff working for condominium corporations. It highlights the importance of acknowledging the efforts of outstanding employees and the positive impact it can have on loyalty and service. However, the article also warns about the potential risks of giving gifts, such as being accused of offering secret commissions, which is considered an offense under the Criminal Code. The article explains that transparency and full disclosure can help avoid any issues related to secret commissions. It suggests ways to manage the giving of gifts, such as documenting the decision in board meeting minutes, specifying the amounts allocated, and disclosing gifts in audited financial statements. Additionally, the article emphasizes the need to comply with new disclosure requirements under the New Act amendments and manage employee expectations regarding future holiday bonuses.