REVISIONS TO SMALL BUSINESS DEDUCTION A summary of the tax rates applicable to CCPCs in 2019 and 2020 is set out in the following tables: Combined Federal and Quebec corporate tax rates applicable on income earned in 2019: To consult the full article, click below. Read the full article
In the 2018-2019 Quebec Budget, the Minister of Finance announced the implementation of new QST registration requirements for suppliers located outside Quebec who: make taxable supplies in Quebec to consumers; or operate a digital platform and meet all of the below criteria: do not have a QST registration number that includes the letters “TQ” (TQ […]
NEW RULES On May 17, 2019, the Québec government changed the rules regarding the disclosure of nominee or prête-nom agreements. Nominee agreements must now be disclosed through a separate compliance procedure with its own form, deadlines and penalties. The new rules apply to both existing and future nominee agreements. Any nominee agreement with “income tax […]
On March 21, 2019 the Quebec Minister of Finance, Eric Girard tabled Budget 2019-2020. This Budget “reaffirms the government’s commitment to put money back in the pockets of Quebecers” with the assertion that “within five years, $5.2 billion will have been put back in peoples’ pockets”. To help achieve this statement, this Budget proposes: gradual standardization of school tax rates; […]
Finance Minister Bill Morneau delivered the 2019 Budget on March 19. This budget contains tax measures that affect personal and corporate income tax as well as international tax and sales tax. On the Canadian tax side, the most notable changes are the repeal of the use of taxable income as a factor in determining the […]
While many businesses often possess intangible value such as goodwill, small and medium size businesses in particular can possess what can be described as “personal goodwill”. We have all heard this story before; an owner-operated small business is sold, and profits sharply drop thereafter, pushing the business to the brink of bankruptcy. “It hasn’t been […]