Law 25- Protection of personal data: What are your responsibilities?
According to a survey conducted by the Académie de la transformation numérique, nearly three out of four Quebecers (72%) are concerned about the protection of their personal data collected, stored and used on the Internet. It was in response to these concerns that the Quebec government passed Bill 25(An Act to modernize legislative provisions respecting […]
Shareholder remuneration: salary or dividend?
An individual shareholder of a corporation may be remunerated through employment income (salary), dividends or a combination of both. According to the concept of integration provided for in tax legislation, the combined total of taxes on the income of the individual and his or her corporation should be similar, regardless of the method of remuneration […]
Tax information of interest (2023)
Our tax specialists would like to share with you a number of tax-related information of interest to you and your company. The purpose of this article is to help you optimize the close of your 2023 tax year and plan for the year ahead. Alternative minimum tax (IMR) The Alternative Minimum Tax (AMT) is a […]
Important news – Tax on underutilized dwellings
As of January1, 2022, the federal government has introduced legislation covering all owners of residential property in Canada. The Underutilized Dwelling Tax Act (“Act”) is designed to slow the escalation of the real estate market in certain regions of Canada. We also invite you to consult the initial terms and obligations in our article: You […]
GST/HST legislative proposals
TheFall 2023 Economic Statement proposes several changes that may have an impact on your company’s taxes. Elimination of GST on new rental housing cooperatives In our September 15, 2023 publication, “GST Rebate Enhancement – Residential Rental Property”, we reported on the federal government’s announcement to enhance the GST rebate from 36% to 100% for […]
Reselling your used vehicle
The shortage of new vehicles means that it’s now possible to make a gain when you resell your used vehicle, but beware: the gain is taxable. Privately-owned vehicle (personal travel) The vehicle is considered personal-use property when it is used solely for personal travel. For tax purposes, the proceeds of disposition and the acquisition cost […]
GST rebate enhancement – Residential rental property
On September 14, 2023, the Department of Finance Canada announced a new measure to increase the supply of new housing on the rental market, in response to the current housing shortage. GST rebate enhancement The purpose of this legislative measure is to enhance the Goods and Services Tax (GST) rebate on residential rental property. It […]
The Canadian Digital Adoption Program (CDAP)
The Government of Canada, through Innovation, Science and Economic Development Canada, has set up the CANP to help entrepreneurs who want to grow their business by moving into the digital age. The program has two components: the Expand Your Business Online grant and the Enhance Your Company’s Technology grant. These grants range from $2,400 to […]
Artificial intelligence in your accounting
The accounting department, financial controller or bookkeeper of small and medium-sized businesses will soon be able to benefit from advances initiated in the field of artificial intelligence (AI). Routine, repetitive tasks Routine, repetitive tasks could soon be carried out by AI following programming of the required data processing specifications. In this way, data entry errors […]
Artificial intelligence in your accounting
The accounting department, financial controller or bookkeeper of small and medium-sized businesses will soon be able to benefit from advances initiated in the field of artificial intelligence (AI). Routine, repetitive tasks Routine, repetitive tasks could soon be carried out by AI following programming of the required data processing specifications. In this way, data entry errors […]