How to prepare your year-end dossier
We are aware that the year-end process brings you additional tasks so that your professionals can carry out their mandate properly [1], in connection with your financial statements and the preparation of tax returns. Here are a few tips and tricks to help you avoid work overload during this period and limit the questions our […]
Search for a person in the Quebec Enterprise Register (REQ)
Since July 31, 2024, it has been possible to search the Registraire des entreprises du Québec (REQ) website using a natural person’s first and last names, and to see all the companies and organizations in which this person is involved, whether as an officer, director, shareholder, partner, ultimate beneficiary or other. What this means As […]
Apply to the Canadian Dental Care Plan
The Canadian Dental Care Plan (CDCP), launched in December 2023, offers dental care coverage to Canadian residents with adjusted family net incomes of less than $90,000 who do not have access to dental insurance. For eligible Canadian residents, the CDHA will help cover the cost of a variety of oral health care services. The CDHA […]
Capital gains: is action urgently needed?
Capital gain, a central concept in finance and taxation, represents much more than a simple financial measure. It embodies the fruits of investment, the risks taken and the rewards achieved in the complex world of financial markets. Understanding how it works is crucial to managing your financial assets. A reminder of the definition of capital […]
Does your municipality purchase goods or services from outside Quebec?
You could be subject to special rules! Municipalities acquire the vast majority of their goods and services in Quebec, with a strong emphasis on local purchasing. Occasionally, however, they may use or consume goods or services previously acquired outside the province. This could be the case, for example, with specialized equipment such as helmets for […]
Summary of the 2024 federal budget
On April 16, 2024, Finance Minister Chrystia Freeland presented the 2024 federal budget to deliver “A Fair Chance for Every Generation”. Among other things, this budget aims to enable the construction of more housing, faster, help make life more affordable and grow the economy to help every generation prosper. The government is making tax changes […]
Effective tax changes for trusts
As Revenu Québec reminds us on its website, a trust is the result of an act by which a person transfers, from his or her patrimony to another patrimony that he or she constitutes, property that he or she assigns to a specific purpose and that a trustee undertakes to hold and administer. As a […]
Summary of the 2024-2025 Quebec budget
On March 12, 2024, Finance Minister Éric Girard tabled his budget plan for 2024-2025, which aims to prioritize health and education. Investments totalling $8.8 billion over the next 5 years have been announced. The most significant of these are aimed primarily at health and education, through funding for health and social services, education and higher […]
GST/HST and QST returns in electronic format only!
As of January 1, 2024, GST/HST and QST returns can no longer be filed on paper. All sales tax registrants, with the exception of charities, are now required to file their tax returns electronically. They can do so through their financial institutions or by using the Revenu Québec website. It is important to note that […]
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 […]