Last update: 18 mars 2020 Here are the key benefit programs available due to the COVID-19 crisis. Those aim at helping employers and employees following a quarantine (whether it is mandatory or voluntary), a layoff or a dismissal. This document is up-to-dated as of March 18, 2020. Note that future updates will be provided following […]
The Government of Canada is taking immediate, significant and decisive action to help Canadians facing hardship as a result of the COVID-19 outbreak. On March 18, 2020, the Prime Minister announced a new set of economic measures. Support to Canadians Flexibility for Taxpayers The Canada Revenue Agency will defer the filing due date for the […]
Please note that the undermentioned information is only in respect of the Quebec tax implications. Regarding the federal ones, they have not yet manifested their intentions. Be sure that we will keep you updated. FILING DEADLINES AND PAYMENT OF BALANCE DUE FOR INDIVIDUALS AND TRUSTS For individuals who would have had a filing obligation of […]
To all our valued clients of PSB Boisjoli, Needless to say, the last few days have been challenging for all of us personally and professionally. We hope that you and your loved ones are doing well during these unsettling times. Our goal is to assure all of our clients that we will continue to provide […]
On March 10, 2020, the Quebec Minister of Finance, Eric Girard tabled Budget 2020-2021. This Budget seeks to achieve the following goals: to build a green economy, to increase Quebecers’ wealth, and to improve services and meet the needs of Quebecers. To help achieve this statement, this Budget proposes: To make Quebec an environmental leader […]
GAAR PENALTY Revenu Québec may impose monetary penalties on taxpayers or their promoters if they are subject to an assessment under Quebec’s general anti-avoidance rule (GAAR). An assessment based solely on the federal GAAR is not subject to these penalties. A taxpayer who takes part in an abusive avoidance transaction is liable to a penalty […]
Arielle Carrier joined PSB Boisjoli during the first year of her bachelor’s degree. She started in our Audit and Assurance division, where she expected to complete the two-year internship leading to her CPA designation. However, early on, her natural curiosity, her ongoing willingness to meet certain challenges, as well as her desire to specialize in […]
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 […]