Intended especially for foreign companies considering investing in Québec, Taxation in Québec: Favourable Measures to Foster Investment provides an overview of the principal tax measures that apply to companies operating in Québec.

In addition to very attractive tax measures, Québec has given Investissement Québec specific tools that enable it to act as a financial partner to businesses. Although this brochure focuses on tax issues, Québec provides businesses with a range of financial solutions that complement those offered by financial institutions. These solutions may include conventional loans, loan guarantees, non-refundable contributions or equity interests.

The information in this brochure was up to date as at April 1, 2019, and does not reflect any modifications that might have been announced subsequent to that date. Monetary amounts are expressed in Canadian dollars.

This brochure is for information purposes only. It does not substitute for legislation, regulations or orders adopted by the Québec government.

For more information, download the document below.

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Under the commodity tax regime, an individual is entitled to claim an input tax credit (ITC) with respect to the purchase of goods and services only if they are used in connection with commercial activities (i.e., in the provision of taxable and/or zero-rated supplies).

A holding corporation whose sole activity is to hold investments could, therefore, not claim ITCs on its expenses since it does not carry on commercial activities because financial services are considered to be an exempt activity.

However, Section 186 of the Excise Tax Act (ETA) provides that a holding corporation that does not make any taxable supplies may claim ITCs on goods and services to the extent it is considered that they were acquired for consumption or use in relation to the shares of capital stock or indebtedness of another corporation that is at that time related to it, if that other corporation carries out commercial activities exclusively (i.e. 90% or more).

Application of this provision has led to considerable discussion with respect to the question of whether a good or a service acquired by a holding corporation can reasonably be considered to be acquired for consumption or use in relation to the shares of capital stock or indebtedness of another corporation.

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These two free webinars are available until August 31st. Hurry up!

Upgrade your knowledge on recent developments in Accounting Standards for Private Enterprises (ASPE) and in International Accounting Standards Board (IASB), the IFRS Interpretations Committee and other regulators with these two webinars, which are available until August 31st, 2019.

Take note that these webinars were hosted during Fall of 2018, some information might have changed since then. The information sessions are offered in French only.

Accounting Standards for Private Enterprises (ASPE)

We will be providing an overview of the following:

  • New or revised accounting standards, including amendments to Section 1591, Subsidiaries, and Section 3051, Investments, relating to the cost method;
  • The projects and activities of the Canadian Accounting Standards Board, including the one on redeemable shares issued in a tax planning arrangement;
  • Some practical issues regarding cryptocurrencies.

Each participant who attends the webinar will be able to take a test at the end of the session.

A training certificate, which applies to training hours recognized by the Quebec CPA Order (OCPAQ), will be given to each participant who passes the test.

ASPE Webinar

International Financial Reporting Standards (IFRS)

We will be providing an overview of the following:

  • Newly published or amended International Financial Reporting Standards (IFRS);
  • Some practical issues, including those related to cryptocurrencies;
  • The IASB’s work plan;
  • Regulatory developments.

Each participant who attends the webinar will be able to take a test at the end of the session.

A training certificate, which applies to training hours recognized by the Quebec CPA Order (OCPAQ), will be given to each participant who passes the test.

IFRS Webinar

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Marco Perron
Partner | CPA, CA, CRMA | Assurance

Private and public sectors are both entering the era of the cloud computing. The security of their operations should be ranked among their top priorities.

Digital technologies create extensive data confidentiality and information system security challenges for both governments and businesses. However, these developments also offer numerous benefits.

Easier management

Nick Markou, Senior Manager at our firm, explains: “Offering the opportunity to automate processes and data thanks to cloud technology is absolutely a game-changer for organizations.”

Implementing cloud technology is helping governments to improve business flexibility despite their back-end silo systems. This makes it easier for experts and stakeholders to collaborate.

Adopting clout technology makes it easier for organizations and businesses to manage digital technology and IT security.

Security first and foremost

Operating in the field of cyber security requires the correct implementation of security standards and world leading best security practices in order to meet clients’ expectations.

“At the moment, we are the first company in Canada to receive Government of Canada security authority written approval to operate Protected A and Protected B systems in a public cloud environment,” says Greg Janson, Manager.

Peace of mind in the cloud

Nick Markou adds: “What we are offering is similar to the self-service car offer: it’s like renting a car. It’s simple and efficient and meets your needs, whereas owning a car implies having to maintain it by changing parts when needed, which adds costs, it’s time consuming and, in the end, defeats the purpose. It’s the same for cloud migration technology.”

Businesses and organizations do not want to allocate a complete department’s resources to create their own technology and servers.

Nick Markou goes on to say: “You just need to access the technology and that’s what we are offering to the government. Easy, simple and secure. We are taking care of this, so clients can focus on their core business.”

Our in-house team members offer a completely holistic cyber-security practice committed to delivering security solutions from system conception to disposal, safeguarding your most crucial organizational assets and enabling you to fulfil your obligations.

Our solutions

We offer cloud migration business services to governments and public companies. That includes unique methodologies, system architectures, communications and reports that quickly and easily put you in the picture, in detail and within the larger context of your operation, identifying gaps and risks, and proposing effective mitigation measures.

Our team of experts will help you solve your challenges by designing and implementing a matrixed, holistic cyber-security program that meets your expectations.

About Raymond Chabot Grant Thornton Consulting Inc.

RCGT Consulting Inc. provides a comprehensive range of services. Our primary focus areas include: internal audits, cyber security, audits of contributions, digital forensics and forensic accounting, management consulting, and other general consulting services such as cost reductions and process improvement. Our client base includes the federal government, provincial governments, municipal sectors, universities and colleges, and medium to large enterprises.

09 Jul 2019  |  Written by :

Marco Perron is a Partner at Raymond Chabot Grant Thornton. He is your expert in assurance for the...

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