What is Bill S-211? Bill S-211 An Act to enact the Fighting Against Forced Labour and Child Labour in Supply Chains Act and to amend the Customs Tariff (the “Act”), came into effect on January 1, 2024. The goal of the Act is to enforce Canada’s commitment to combat forced labour and child labour by mandating reporting […]
On September 14, 2023, the Prime Minister announced extended deadlines for Canada Emergency Business Account (CEBA) loan repayments, providing an additional year for term loan repayment, and additional flexibilities for loan holders looking to benefit from partial loan forgiveness of up to 33 per cent. The CEBA program was available from April 9, 2020, to […]
The CNESST is recognized by Quebec employers as the administrator of labour standards, and health and safety, as well as being responsible for applying the Pay Equity Act. An increasing trend in pay equity audits by the Commission leads us to remind you of the importance of being proactive in all matters related to pay […]
REVISIONS TO SMALL BUSINESS DEDUCTION A summary of the tax rates applicable to CCPCs in 2021 and 2022 is set out in the following tables: Combined Federal and Quebec corporate tax rates applicable on income earned in 2021: [1] A tax rate of 3.2% is in effect in Quebec as of March 26, 2021. Before […]
The federal 2018 budget announced new trust filing and reporting requirements that will impact trusts having a taxation year ending on and after December 31, 2021. NEW FILING REQUIREMENTS A trust is currently only required to file an income tax return for taxation years in which the trust owes tax or disposes of property. As […]
On December 14, 2021, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, released the Economic and Fiscal Update 2021. Below are some highlights of certain tax measures included in the Economic and Fiscal Update 2021. Small Businesses Air Quality Improvement Tax Credit The government proposes a refundable Small Businesses Air Quality Improvement Tax […]
Quebec Economic statement On November 25, 2021, Quebec Finance Minister Eric Girard delivered the Update on Quebec’s Economic and Financial Situation. The following is a summary of some of the measures announced. COPING WITH THE COST OF LIVING 1. MITIGATING THE COST OF LIVING INCREASE 1.1 Introducing the extraordinary cost of living allowance In its […]