The Canada Emergency Response Benefit (“CERB”) is replacing the previously announced Emergency Care Benefit and Emergency Support Benefit programs. Details This taxable benefit would provide $2,000 per month, for up to four months, to workers who lose their income as a result of the COVID-19 pandemic. The portal for accessing the CERB would be available […]
On March 10, 2020, the Quebec Minister of Finance, Eric Girard tabled Budget 2020-2021. This Budget seeks to achieve the following goals: to build a green economy, to increase Quebecers’ wealth, and to improve services and meet the needs of Quebecers. To help achieve this statement, this Budget proposes: To make Quebec an environmental leader […]
GAAR PENALTY Revenu Québec may impose monetary penalties on taxpayers or their promoters if they are subject to an assessment under Quebec’s general anti-avoidance rule (GAAR). An assessment based solely on the federal GAAR is not subject to these penalties. A taxpayer who takes part in an abusive avoidance transaction is liable to a penalty […]
REVISIONS TO SMALL BUSINESS DEDUCTION A summary of the tax rates applicable to CCPCs in 2019 and 2020 is set out in the following tables: Combined Federal and Quebec corporate tax rates applicable on income earned in 2019: To consult the full article, click below. Read the full article
In the 2018-2019 Quebec Budget, the Minister of Finance announced the implementation of new QST registration requirements for suppliers located outside Quebec who: make taxable supplies in Quebec to consumers; or operate a digital platform and meet all of the below criteria: do not have a QST registration number that includes the letters “TQ” (TQ […]
NEW RULES On May 17, 2019, the Québec government changed the rules regarding the disclosure of nominee or prête-nom agreements. Nominee agreements must now be disclosed through a separate compliance procedure with its own form, deadlines and penalties. The new rules apply to both existing and future nominee agreements. Any nominee agreement with “income tax […]
On March 21, 2019 the Quebec Minister of Finance, Eric Girard tabled Budget 2019-2020. This Budget “reaffirms the government’s commitment to put money back in the pockets of Quebecers” with the assertion that “within five years, $5.2 billion will have been put back in peoples’ pockets”. To help achieve this statement, this Budget proposes: gradual standardization of school tax rates; […]
Finance Minister Bill Morneau delivered the 2019 Budget on March 19. This budget contains tax measures that affect personal and corporate income tax as well as international tax and sales tax. On the Canadian tax side, the most notable changes are the repeal of the use of taxable income as a factor in determining the […]
REVISIONS TO SMALL BUSINESS DEDUCTION A summary of the tax rates applicable to CCPCs in 2018 and 2019 is set out in the following tables: Combined Federal and Quebec corporate tax rates applicable on income earned in 2018: To consult the full article, click below. Read the full article
Finance Minister Carlos J. Leitão delivered the 2018-2019 Budget on March 27. This budget contains tax measures that affect personal and corporate income tax as well as international tax and sales tax. The most noted change relate to measures with respect to the collection and remittance of the Quebec sales tax on online transactions. In […]