Category: Taxation

July 29, 2019 —

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 […]

March 22, 2019 —

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; […]

March 20, 2019 —

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 […]

December 11, 2018 —

REVISIONS TO SMALL BUSINESS DEDUCTION A summary of the tax rates applicable to CCPCs in 2018 and 2019 is set out in the following tables: Combined Federal and Quebec corporate tax rates applicable on income earned in 2018: To consult the full article, click below. Read the full article

March 28, 2018 —

Finance Minister Carlos J. Leitão delivered the 2018-2019 Budget on March 27. This budget contains tax measures that affect personal and corporate income tax as well as international tax and sales tax. The most noted change relate to measures with respect to the collection and remittance of the Quebec sales tax on online transactions. In […]

March 22, 2018 —

When an immovable (for example, land) is transferred from one corporation to another without any change in ultimate beneficial ownership (for example, between ‘‘closely related legal persons’’), Québec land transfer tax (LTT) does not apply. This exemption is now to be extended to immovables owned by a partnership, according to proposals for the amendment of […]

February 28, 2018 —

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 […]

December 08, 2017 —

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 […]

November 23, 2017 —

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 […]

November 22, 2017 —

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 […]