Finance Minister Bill Morneau delivered the 2018 Budget on February 27. This budget contains tax measures that affect personal and corporate income tax as well as international tax and sales tax. The most anticipated changes relate to passive income earned by Canadian private corporations. These tax changes were the most significant in the Budget. These […]
The US House of Representatives & the Senate have now both released their versions of the Tax Cuts & Jobs Act. On November 16, 2017 the House passed their bill, and later that same day the Senate Finance Committee approved their proposed tax reform legislation. On December 2, 2017 the full Senate voted on its […]
Phasing out of restrictions on the granting of input tax refunds to large businesses Montreal, November 22, 2017 – The Quebec Minister of Finance will be gradually phasing out the current restrictions on the granting of Input Tax Refunds (ITR) to large businesses from January 1st, 2018 to December 31, 2020. A person is generally […]
Bulletin released by Revenu Quebec: Measures announced as part of the presentation of the Québec economic plan update. “This information bulletin sets out the amendments that will be made to the tax legislation and regulations to give effect to certain measures announced by the Minister of Finance as part of the Québec Economic Plan update […]
As previously reported in our newsletter, on July 18th, 2017, federal Finance Minister Bill Morneau (“Morneau”) released for consultation a discussion paper and draft legislative proposals (the “Papers”) addressing tax planning arrangements using private corporations. It is the government’s view that these changes are necessary to close perceived tax loopholes and improve the fairness of […]
Over the past few years, Revenu Québec has developed a poor reputation amongst Quebec taxpayers and mandataries. Public trust of Revenu Québec has been damaged by several articles reporting on overzealous tax officers, as well as by persistent rumours that Revenu Québec had been imposing quotas on its auditors, creating incentives for them to find […]
Good news for SMB’s! The Provincial Export Program (PEX) is offering new and improved benefits for businesses. Are you looking to explore new markets, export, diversify your activities and/or expand your business opportunities? The Provincial Export Program can help! Initiated by the Quebec Ministry of Economy, Science and Innovation, PEX has recently increased available funds […]
On July 18, 2017, federal Finance Minister Bill Morneau released a consultation paper and draft legislative proposals (the “Papers”) to address certain tax planning arrangements using private corporations. It is the government’s view that these changes are necessary to close perceived tax loopholes and improve the fairness of the Canadian income tax system. It has […]
WHAT ORGANIZATIONS NEED TO KNOW! The Pay Equity Act requires organizations with 10 or more employees in Quebec, Ontario and federal organizations to establish and maintain Pay Equity. The objective of the Act is to eliminate systemic pay gaps between female-dominated and male-dominated job classes. In Quebec: The Pay Equity Act has been in effect […]
It’s always beneficial to be prepared for various eventualities over the life of business ownership. Like many things, the importance of having a well-drafted shareholder agreement only comes to light after it’s too late. Here are the basics. WHAT IS A SHAREHOLDER AGREEMENT? A shareholder agreement is a formal document that outlines the expectations among […]