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 […]
New obligations (REQ)
New transparency obligations for companies registered with the REQ (Registre des entreprises du Québec) New obligations to improve corporate transparency will come into force on March 31, 2023. These new measures are designed to enhance the information available to the REQ in order to improve corporate transparency, strengthen public protection and also contribute to actions […]
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 […]
M&A Club – The tax memo in a transaction
Our tax partner Rémi Imbeault will be speaking at the M&A Club Canada on January 24, 2023. The conference will focus on “The tax memo in a transaction”. The event is organized by Le Club M&A de la Rive-Nord at the Hilton Laval Hotel (2225 Autoroute des Laurentides Laval, QC H7S 1Z6). To register or […]
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, […]
More flexible criteria for calculating the value of taxable automobile benefits
Due to the particular context of the COVID-19 pandemic, the Quebec government is announcing relaxations to the criteria normally applied to calculate the value of taxable benefits attributed to an employee for the use of an automobile for the 2020 and 2021 taxation years. Indeed, due to the health crisis, some employees have had to […]
A tool to calculate the deduction for telecommuting expenses during the pandemic
The Quebec government announced on December 16, 2020 that the Ministère des Finances would be putting an interactive calculation tool online to help citizens choose the most appropriate method for claiming the deduction for telecommuting expenses incurred during the COVID-19 pandemic. This tool is now available, and will enable citizens to determine which calculation method […]
Important announcement for businesses in the Laurentides and Pays-d’en-Haut MRCs
Businesses in the MRC des Laurentides and the MRC des Pays-d’en-Haut can now benefit from the Aide aux entreprises en régions en alerte maximale (AERAM) component of the Programme action concertée temporaire pour les entreprises (PACTE) and the Programme d’aide d’urgence aux petites et moyennes entreprises (PAUPME). PAUPME is administered by the MRCs, while PACTE […]
Teleworking, its tax and human implications
The COVID-19 health context has substantially altered work organization for a majority of companies and their members. Many employees have been or are being forced to work from home, in “telecommuting” mode. Employers have also provided in 2020, or will provide in 2021, certain benefits or reimbursements to ensure that their employees work in safe […]