Increase in specific duty on new tires
The 2023-2024 Quebec budget, presented by the Quebec Minister of Finance on March 21, 2023, announced an increase in the specific duty on new tires, to support funding for the Quebec scrap tire management program administered by RECYC-QUÉBEC. Since the introduction of this program on October1, 1999, the specific duty on new tires had remained […]
Summary of the 2023 federal budget
On March 28, 2023, Finance Minister Chrystia Freeland presented the 2023 federal budget for “Canada’s plan: a strong middle class, an affordable economy, a prosperous future”. Among other things, this budget aims to make life more affordable for Canadians, invest in public health care and access to affordable dental care, and stimulate affordable energy, good […]
Additional period – Tax on under-utilized dwellings
As of January1, 2022, a new law has been introduced by the federal government for 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. Canadian private corporations, most trusts, partnerships and non-profit organizations are not […]
Additional period – Tax on under-utilized dwellings
As of January1, 2022, a new law has been introduced by the federal government for 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. Canadian private corporations, most trusts, partnerships and non-profit organizations are not […]
Summary of the 2023-2024 Quebec budget
On March 21, 2023, Finance Minister Éric Girard tabled his budget plan for 2023-2024 for “Un Québec engagé”. In particular, the budget aims to stimulate supply and reduce the tax burden on Quebecers, especially by lowering the first two personal income tax rates. Significant changes have also been made to the Quebec Pension Plan to […]
You could be targeted by the new Underutilized Dwelling Tax!
Find out who is affected by this new tax and the obligations it entails. In short, as of January1, 2022, a new law has been introduced by the federal government 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 […]
Happening Relève de l’APFF
Our colleague Jerry Médénou was a guest speaker at the APFF’s Happening Relève on Thursday, December1, 2022 in Montreal. Jerry Médénou gave a “practical conference” with Me Nour Sharif on “Impacts en TPS/TVH/TVQ lors d’une vente d’entreprise et réorganisation”. Note that the conference is now available as an online training session on the Association de […]
Do you validate your suppliers’ tax numbers?
You should! Sales tax laws are often stricter than income tax laws. For example, for the same expense, for tax purposes, it may be sufficient to justify that the expense was incurred for business purposes for it to be deductible. However, for consumption tax purposes, there is a whole series of criteria that must be […]
Taxes – QST: zero-rating of motor vehicles acquired for resale or long-term lease (12 months or more)
Did you know? A person registered for QST does not have to pay QST when acquiring a motor vehicle intended for resale or lease for a continuous period of at least 1 year. THE ZERO-RATING RULE IN THE QST SYSTEM The Act Respecting the Québec Sales Tax (“AQST”) zero-rates (taxable at 0%) a supply by […]
Ministère des Finances makes adjustments to the QST system
The ministère des Finances is making adjustments to the QST regime to bring it into line with the e-commerce changes proposed in the April 19 federal budget. In addition, in order to simplify the QST registration process for persons who will be affected by the new e-commerce rules, it is proposed to reduce the amount […]