Finance Minister’s 2020 budget: expanding the economy’s potential and creating more wealth
Quebec Budget Summary_March2020 March 10, 2020
Is it possible to receive a tax-free dividend?
By Dominique Labelle, LL.M. Fiscal authorities. Are you a shareholder of a private company wondering how you can get money out of your corporation without receiving a hefty tax bill at the end of the year? We have a question for you: do you have a Capital Dividend Account (CDA) balance? What is a CDC? […]
Who is obliged to keep a travel register?
Owning and using a vehicle as part of a business can be a headache for managers and executives. The tax rules governing this type of asset are many and complex, both in terms of deductibility for tax purposes and the application of sales taxes. The purpose of this article is to talk specifically about the notion of keeping a travel logbook, an obligation for whom in fact?
Minister Morneau finally clarifies income-splitting rules!
The legislative proposals tabled on July 18 are still being discussed. Indeed, the Minister of Finance tabled a new draft of legislative proposals on December 13. That’s why we’re presenting you with the third chapter on this subject, following on from the articles entitled “Tax planning using private corporations” and “Latest changes following the July […]
LATEST CHANGES FOLLOWING LEGISLATIVE PROPOSALS ON JULY 18
Following the legislative proposals announced by the Minister of Finance on July 18, 2017, several changes were announced during October following the public consultation period.
SPECIAL FEATURE: TAX BREAKS FOR MANUFACTURING COMPANIES
Following on from our last article in a four-part series on innovative manufacturing companies, we continue to address this topic by elaborating on some of the existing tax measures available to this industry.
TAX PLANNING THROUGH PRIVATE COMPANIES
In the 2017 Federal Budget tabled on March 22, Finance Minister William Francis Morneau announced that he would conduct a review of tax planning strategies using private corporations and that a consultation paper would be released in the coming months. Last Tuesday, July 18, the Minister tabled his recommendations, as well as legislative proposals aimed at countering certain tax planning strategies.
SPECIAL REPORT | TAX BREAKS FOR MANUFACTURING COMPANIES
Responsible for nearly 11% of Canada’s gross domestic product (“GDP”)[1], manufacturing is a key component of our economic vitality. In Quebec, this reality is all the more important, with nearly 14% of GDP coming from this industry[2]. Innovation, investment, workforce and economic and political uncertainty are among the main challenges facing manufacturing companies. Both the federal and Quebec governments are concerned about the challenges facing the industry in the coming years.
RELEVANT INFORMATION FOR YOUR 2016 TAXES
It’s that time of year again when we have to think about preparing our tax returns. For most of us, this can be a real headache, as it’s hard to know what documents and information to send to our accountant to maximize the deductions and credits to which we’re entitled.
PERSONAL INCOME TAX RETURNS: Are you ready?
Every year, when the snow begins to melt and spring is just around the corner, it’s time to start thinking about filing our income tax returns. For most of us, this becomes a real headache. Here’s a summary of what’s new for 2016, both federally and in Quebec, as well as a brief reminder of measures already in effect.