21 Mar 2012

MONTRÉAL, March 20, 2012 – Raymond Chabot Grant Thornton is proud to publish its post-budget tax bulletin containing a summary of the main tax measures for individuals and enterprises announced by the Quebec Minister of Finance. The document is available here: www.rcgt.com/en/budget-quebec-2012.

Measures to Maintain Growth

The Firm would like to highlight certain budgetary measures that will assist enterprises and foster their competitiveness, specifically the creation of Ressources Québec and a $5M increase in the mining and hydrocarbon envelope.

In light of these measures, “there is no doubt that business is a central component of Mr. Bachand’s third budget, as evidenced by the $1.3 billion in new capital and investments to support business development through such measures as the creation of ESSOR 2.0 and PME 2.0, and investments in the clean technologies sector,” stated Bernard Poulin, Tax Partner.

Furthermore, to support the labour sector, the government has decided to invest $361M over three years to support businesses of all sizes in developing human capital skills, as well as earmarking $60M to upgrade specialized equipment and increase professional development.

“In a context where economic growth appears to be sluggish in the short term, these are decisions that will help Quebec business owners stay on course,” added Bernard Poulin.

Other Awaited Measures

Raymond Chabot Grant Thornton would also like to draw attention to the importance of addressing the issue of tax inequity in business transfers. On December 2, 2010, the Firm sent a copy of its related report entitled, “Business Transfers: Problems and Suggested Solutions” (http://www.rcgt.com/en/news/business-transfers-report/) to the Quebec and federal Ministers of Finance. Since then, the Firm has demonstrated a very clear interest in the matter, specifically in its reactions to last year’s budgets and by raising awareness about the inequity among tax authorities.

“In its Quebec Entrepreneurship Strategy released last fall, the government indicated that it would be reviewing tax issues related to business transfers to family members by 2014, alongside the federal government. We encourage the government to take action as soon as possible,” stated Jean Gauthier, Partner and National Tax Director. He continued by stressing that “the ongoing problem is that owners are at a disadvantage if they want to sell their business to their son or daughter, which is not the case if they were to sell to a perfect stranger.”

Suzanne Landry, University Partner, Tax Professor at HEC Montréal, and the report’s main author, specified that “for intergenerational business transfers, the capital gain is considered a dividend, which results in the seller losing the advantage of the capital gains deduction, representing up to $750,000. Therefore, it’s highly relevant for our governments to solve this matter once and for all to further stimulate family successions and the sustainability of local businesses.”

About Raymond Chabot Grant Thornton

Founded in 1948, Raymond Chabot Grant Thornton is a leader in the fields of assurance, taxation, consulting and recovery and reorganization services. The Firm owes its success to over 2,000 employees, including more than 230 Partners in over 90 offices in Quebec, eastern Ontario and New Brunswick. For the past 30 years, Raymond Chabot Grant Thornton has been a member of Grant Thornton International Ltd providing its clients with the expertise of member and correspondent firms in more than 100 countries.

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For more information:

Francis Letendre
Public Relations Consultant
Raymond Chabot Grant Thornton
Tel. : 514-390-4201
Fax: 514-554-1685
[email protected]

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20 Mar 2012

Michel Lefebvre

Since March 15, 2012, Michel Lefebvre, Tax Partner in the Montréal office, has had the pleasure of being a Huffington Post blogger as an ITC expert. Michel already has one blog entry on the site about mobility in Quebec and will produce regular blog posts going forward.

Le Huffington Post Québec is a general and exclusively Web-based news site, launched in February 2012. It uses various experts and external sources to supply its blog content.

Consult Michel Lefebvre’s Le Huffington Post Québec profile here

To read his first blog entry (Pleins feux sur la mobilité, French only), click here

Congratulations to Michel for achieving this major visibility! Visit the site to follow and comment on his blog.

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19 Mar 2012

Chantal Friset

A few weeks ago, Chantal Friset, Partner in Management Consulting Group at the Montréal office, gave a conference at a major convention organized jointly by the Association des médecins d’urgence du Québec (AMUQ) and the Association des gestionnaires infirmiers d’urgence du Québec (AGIUQ).

Sustained Commitment

Raymond Chabot Grant Thornton was also involved in the event as a sponsor of the recognition award (Prix reconnaissance), which pays tribute to an establishment’s innovative contribution to improving its emergency department. Interesting fact: thanks to our Firm, the winner of this award is entitled to take part in the prestigious Emergency Nurses Association’s leadership convention in the United States, one of the main events in management-based professional development in this area.

Congratulations to Chantal Friset for her commitment: she has been involved in this event for the last three years as Chairperson and, every year, as a speaker.

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15 Mar 2012

The professional services Firm is the first in the country to launch an iPad mobile app incorporating a tax calculator

MONTRÉAL, March 15, 2012 – Raymond Chabot Grant Thornton officially launched its Tax Planning Guide 2011-2012 today. The 28th edition of this free, unique and versatile tool provides up-to-date personal tax information.

Jean Gauthier, Partner and National Tax Director stated, “The Tax Planning Guide has always been an innovative guide and reference that provides strategic information as well as tips, tables and tax information for other provinces.” The Tax Planning Guide 2011-2012 is available online, at www.taxplanningguide.ca, as well as on iTunes (http://bit.ly/planningguide2012) as an iPhone, iPod Touch and, for the first time this year, iPad app.

“We are innovating again this year,” Jean Gauthier continued. “The Tax Planning Guide iPad app now offers a handy and easy-to-use simulator for Quebec taxpayers. We have a very simple objective: make a tool available for anyone who wants it, that will help with tax planning and avoid nasty surprises. The tax calculator is a versatile, personalized tool that uses the individual’s financial profile to determine his or her tax rate.”

The Tax Planning Guide’s electronic versions were such a success that Grant Thornton International Ltd has followed suit by offering the new World in Figures iPad app in association with the prestigious “The Economist” magazine.

About Raymond Chabot Grant Thornton

Fondée en 1948, la société Raymond Chabot Grant Thornton figure aujourd’hui parmi les chefs de file dans les domaines de la certification, de la fiscalité, des services-conseils, du redressement d’entreprises et de l’insolvabilité. Cette force repose sur une équipe de plus de 2 200 personnes, dont quelque 230 associés, réparties dans plus de 90 bureaux au Québec, dans l’est de l’Ontario et au Nouveau-Brunswick. Soulignons également que, depuis plus de 30 ans, Raymond Chabot Grant Thornton est membre de Grant Thornton International Ltd, offrant à sa clientèle l’accès à l’expertise de cabinets membres et de cabinets représentants dans plus de 100 pays.

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Media Relations:
Grégory Gihoul | Citizen Optimum | [email protected] | 514-282-4816

Francis Letendre | Raymond Chabot Grant Thornton | [email protected]| 514-390-4201