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Kari England hopes she’ll get a few hours of shut-eye on Friday night, but the owner of Toad Hall Toys knows she’ll be lucky if that’s the case. Read this article for free: Already have an account? To continue reading, please subscribe: * Kari England hopes she’ll get a few hours of shut-eye on Friday night, but the owner of Toad Hall Toys knows she’ll be lucky if that’s the case. Read unlimited articles for free today: Already have an account? Kari England hopes she’ll get a few hours of shut-eye on Friday night, but the owner of Toad Hall Toys knows she’ll be lucky if that’s the case. England has to adjust the point-of-sale system at the popular toy and hobby store after it closes Friday and before it opens Saturday. She has to manually change the tax status of more than 400 items — one by one — to remove the GST. It’s to meet requirements by the federal government as it ushers in its plan to lift the GST on a slew of items for the holiday shopping seasons as of Saturday. “It’s another layer of complexity added onto the busiest time of the year, added onto other problems like the Canada Post strike,” England said. “It feels like every corner has an added degree of difficulty.” MIKAELA MACKENZIE / FREE PRESS Toad Hall Toys sells a number of products, including toys and games that are exempt, and others such as hobby items that aren’t. The shop is especially affected by the lifting of the five per cent levy for a two-month period. England’s worries don’t end with the transition to the GST exemption or a sleepless Friday night. She’s anxious about sales that will have taken place before the exemption kicks in that are potentially returned during the exemption period, and vice-versa, when her tax codes are still changed for the holiday. “They’re asking me to do this at a time where I don’t have time, and get it completely right on the arbitrary rules (the federal government) has set up,” England said. Saturday will also be one of the two busiest shopping days of the year for Toad Hall Toys. “The pressure’s on,” England said. At Cobra Collectibles, co-owner and manager Kailyn Gregorash, said Wednesday they’re in a pickle as they try to figure out what to do. “We’ve been talking with our accountant to try and figure out what the correct course of action is,” she said. “I think a lot of people are confused and not really sure what to do or how to go about things.” Cobra Collectibles specializes in vintage toys from the ‘70s, ‘80s and ‘90s, along with video games, comic books and other retro products. Gregorash said it’s “a little overwhelming,” especially during their holiday prep. “They’re asking me to do this at a time where I don’t have time, and get it completely right on the arbitrary rules (the federal government) has set up.” “It’s going to be interesting,” Gregorash said. “There’s just not a lot of communication, and it’s hard to figure out what we’re supposed to be doing. It’s hard to figure out qualifying goods.” Gregorash said they will likely include the GST into item pricing and then sort out what they owe to the Canada Revenue Agency later. “It’s not going to be fair for us,” she said. “Our customers are going come in expecting not to be charged (the GST). We don’t want anyone being hurt by that.” Peter Fehr has similar concerns. The owner of Love Local Manitoba, a company that began as an event and now has an online store and storefront at St. Vital mall that sells 600 Manitoba-made products, said the so-called holiday isn’t one at all. “It’s complicated... it’s learning new systems and becoming a tax expert overnight,” Fehr said, adding that all the work they have to do now to change their systems will have to be done again in February when the GST holiday ends. Fehr’s almost certain they won’t get the settings completely right in such a short time frame, and worries it could lead to negative customer interactions. He’s also uneasy about the possible long-term implications. “What happens if we get audited in the spring and we didn’t get it right and we have big penalties to pay?” Fehr said. MIKAELA MACKENZIE / FREE PRESS The Canadian Federation of Independent Business is lobbying the federal government to forgive any errors that are made in good faith. “This affects small businesses the most, who don’t have massive tech departments, administrative departments,” said provincial director Brianna Solberg. “They are the ones that have to spend hours changing over their inventory themselves.” Solberg said many small businesses are scrambling ahead of Saturday. “To put it simply, it’s been a complete nightmare,” Solberg said. A recent survey of CFIB members showed that just four per cent think sales will increase because of the tax break. CFIB has also called on Ottawa to consider giving affected businesses a minimum of $1,000 credit in their GST account to cover administrative costs. The Canada Revenue Agency has said it will take a practical approach to compliance by targeting businesses that “willfully and egregiously refuse to comply with the temporary measures.” “Businesses who make reasonable efforts to comply with the legislation will not be the focus of our compliance actions,” a spokesperson said Wednesday. The federal government announced the tax break in late November, saying it would help reduce costs for Canadians. Ottawa suggests an average household savings of around $100 for a family that spends $2,000 on qualifying goods. MIKAELA MACKENZIE / FREE PRESS Richard Forbes, lead economist at the Conference Board of Canada, said its preliminary data suggests an average savings of $164 during the two-month window, although that number takes into account the Harmonized Sales Tax in certain provinces. That average will be lower in Manitoba. Forbes said businesses will have a tangible uptick in sales during the tax holiday, but it won’t lead to a significant difference overall. “We will probably see a lot of consumers purchase things in that period and not after or before, so it’s just front-loading purchases in December and January rather than March,” he said. scott.billeck@freepress.mb.ca Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. Scott Billeck is a general assignment reporter for the . A Creative Communications graduate from Red River College, Scott has more than a decade’s worth of experience covering hockey, football and global pandemics. He joined the Free Press in 2024. . Every piece of reporting Scott produces is reviewed by an editing team before it is posted online or published in print — part of the ‘s tradition, since 1872, of producing reliable independent journalism. Read more about , and . Our newsroom depends on a growing audience of readers to power our journalism. If you are not a paid reader, please consider . Our newsroom depends on its audience of readers to power our journalism. Thank you for your support.
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OSAKA, Japan and MONTREAL , Dec. 5, 2024 /PRNewswire/ -- Ono Pharmaceutical Co., Ltd. (Headquarters: Osaka, Japan ; President: Toichi Takino; "Ono") announced that it has entered into a drug discovery collaboration agreement with Congruence Therapeutics (Headquarters: Montreal, Quebec, Canada ; CEO: Clarissa Desjardins; "Congruence") to generate novel small molecule correctors against multiple protein targets in the oncology area by leveraging Congruence's proprietary drug discovery platform, RevenirTM. Under the terms of the agreement, Congruence will generate small molecule correctors by leveraging Congruence's proprietary drug discovery engine called, RevenirTM. Ono will obtain an exclusive option right to develop, manufacture and commercialize the identified small molecule correctors worldwide. Congruence will be eligible to receive an upfront payment, research expenses, milestone payments based on research and development progress and sales, as well as tiered royalties based on net sales. "We believe that this collaboration with Congruence may help generating novel small molecule correctors for validated targets in the oncology area by leveraging their own technologies in protein dynamics and computational biology, leading to our development pipeline," said Seishi Katsumata , Corporate Officer / Executive Director, Discovery & Research of Ono. "We will be committed to delivering innovative new drugs to cancer patients as soon as possible." "Congruence is thrilled to partner with Ono, which has established itself as a global leader in drug development, particularly in the oncology space. We believe that our RevenirTM platform and capabilities in protein dynamics will accelerate the discovery of novel therapies for compelling targets of interest to both companies," said Sharath Hegde PhD, Chief Scientific Officer of Congruence. About RevenirTM Drug Discovery Platform RevenirTM, Congruence's proprietary computational drug discovery platform, captures the dynamic biophysical changes caused by mutations in proteins, offering unique insights into protein defects and their correction. By examining surface features and a spectrum of biophysical descriptors across an ensemble of protein conformers, RevenirTM predicts small molecule induced correction of the underlying defect. About Congruence Therapeutics Congruence is a computationally-driven biotechnology company building a unique pipeline of transformative small molecule correctors rationally designed to rescue aberrant protein function. Congruence's proprietary scalable platform, RevenirTM, captures the biophysical features of proteins across their conformational ensembles, in order to identify novel allosteric and cryptic pockets which are virtually screened to generate novel chemical matter. For more information, please visit www.congruencetx.com . View original content to download multimedia: https://www.prnewswire.com/news-releases/ono-enters-into-drug-discovery-collaboration-agreement-with-congruence-therapeutics-to-generate-novel-small-molecule-correctors-in-the-oncology-area-302324452.html SOURCE Ono Pharmaceutical co., ltd.