Important reminder: declaring Ultimate Beneficiaries
The new rules on corporate transparency require most entities registered with the Quebec Enterprise Register (REQ) to produce a declaration of Ultimate Beneficiaries (UB) to identify the individuals who exercise real control over them. An equivalent obligation also exists for companies under federal jurisdiction, in the form of a Significant Control Person (SCP) declaration. As […]
Minute book: is the update really necessary?
The short answer: yes, absolutely! The creation and updating of a corporate minute book is a legal obligation under both the Quebec Business Corporations Act (sections 31 to 42 QBCA) and the Canada Business Corporations Act (sections 20 to 22 CBCA). The minute book: the company’s legal memory The minute book traces the company’s entire […]
Financial statements and SMEs: 4 common mistakes and their consequences
For many managers of small and medium-sized enterprises (SMEs), accounting is often seen as an administrative burden, a formality required to meet annual tax obligations or the demands of banking institutions. And yet, behind the figures and analysis tables lies an essential steering tool for the company throughout the financial year. Indeed, when financial statements […]
NPO – Have you made any good resolutions?
The Board of Directors is the cornerstone of corporate governance. It sets strategic directions, oversees management and ensures that actions comply with the company’s mission and legal obligations. Even if it doesn’t manage day-to-day operations, it must remain vigilant, as failures to do so can have serious consequences, ranging from financial sanctions to legal action, […]
Federal Budget 2025 – Tax announcements
On November 4, 2025, the Minister of Finance presented the 2025 federal budget. Here is an overview of the tax measures that could have an impact on individuals and businesses. Measures for private customers The budget clarifies certain previously announced measures, including : Cancellation of capital gains inclusion rate increase: Budget 2025 cancels the increase […]
NOC 20: What SMEs need to know about cloud computing costs
REMINDER: Since January 1, 2024, a new accounting rule has been in force: the Accounting Guideline (AcG 20). It changes the way closely-held companies have to account for their cloud services, better known as cloud solutions. Clearly, if your SME uses software or platforms hosted online, you now have to choose how to present these […]
Enhanced GST/HST rebate for first-time home buyers
On May 27, 2025, the federal government announced a major improvement to the GST/HST rebate for first-time buyers of new or substantially renovated homes. This measure is designed to facilitate access to home ownership for first-time homebuyers, by eliminating or reducing the GST (or the federal portion of the HST) on the purchase or construction […]
Pay equity deadlines in 2025 for 8,986 employers!
The Pay Equity Act imposes obligations on Quebec companies with an average of 10 or more salaried employees over the course of a calendar year. Pay equity goes further than “equal pay for equal work”, since it requires “equal pay for different but equivalent work”. Employers who fail to comply with the Act are liable […]
Pay transparency on the horizon!
Salary transparency is becoming an unavoidable requirement in several Canadian provinces. As of January 2026, Ontario will require employers with 25 or more employees to post salary ranges in their job advertisements. Although Quebec has not yet legislated on this issue, companies need to be prepared if they are to remain competitive and fair. Pay […]
Insurance – Protecting your business
Whether it’s cyber-attacks, lawsuits, fires or even theft, no one is immune. These are all unpredictable events. So how do you protect yourself against them? One simple answer is to take out an insurance policy. Although it is possible to put in place controls within your organization to reduce these risks (e.g., digital risk controls […]