Why and how to certify financial statements?
Companies may be required by law or industry regulations to provide financial statements certified by a chartered accountant. Here are some of the most common reasons why a company in Quebec may need to have its financial statements certified: Compliance with legal requirements: Companies with a legal obligation to produce audited financial statements, such as […]
Anticipate your CUEC repayment!
Many of you requested and received assistance from various levels of government during the pandemic. While some assistance, such as the Canada Emergency Wage Subsidy (CESS), was non-refundable, this is not the case for all programs. Some of them now represent a debt on your company’s balance sheet, and you’ll have to make sure that […]
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 […]
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 […]
Government agricultural assistance programs
This article is aimed at farm owners who want to keep abreast of government aid to help them finance and develop their farms. Grants and programs often change name, eligibility requirements or terms and conditions. Everything changes so quickly. To keep up to date on the elements that directly affect your farming operation and its […]
Deferral of CUEC reimbursement
As announced at the start of 2022, the federal government recently made official the deferral of the refundable portion of the CUEC (Canadian Business Emergency Account) to December 31, 2023, rather than December 31, 2022. In doing so, the loan holders received a letter from their financial institution announcing the postponement to 2023 of the […]
Taxation – Immediate transfer of responsibility
On April 18, 2021, the Honourable Chrystia Freeland, Minister of Finance, proposed a budget driven by a plan to grow Canadian small and medium-sized businesses. It was in this budget that she proposed to allow Canadian businesses to write off the cost of acquiring an asset as an immediate expense, based on certain criteria. However, […]
Structuring Technical Assistance (STA) program for SMEs: is it for you?
Companies have until June 30, 2021 to benefit from the ATS (Aide technique structurante pour les PME) grant. This is a NON-REFUNDABLE aid (i.e. a grant) available for up to 100% of expenses. This grant, presented by the Honourable Mélanie Joly, Minister of Economic Development and Official Languages, will enable CFDCs and BDCs, through the […]
Canada’s Emergency Wage Subsidy extended to September 25, 2021
The government introduced the Canada Emergency Wage Subsidy to prevent further job losses and encourage employers to quickly rehire workers already laid off as a result of COVID-19. The measure provides eligible employers who have experienced a drop in revenues with a wage subsidy for eligible compensation paid to their employees. Support for active employees […]
New Hiring Program for Canada’s Economic Recovery
Budget 2021 proposes to introduce the new Canadian Economic Recovery Hiring Program to provide eligible employers with a subsidy of up to 50% of the additional compensation paid to eligible employees between June 6, 2021 and November 20, 2021. An eligible employer would be allowed to apply for either the hiring subsidy or the Canada […]