09 Dec 2020

Bill 42, introducing a new mandatory disclosure mechanism for nominee agreements in Québec1 received assent on September 24, 2020.

As a result, nominee agreements entered into in the context of a transaction involving tax consequences must now be disclosed to Revenu Québec, in the form and manner prescribed for that purpose.

Nominee agreements entered into before September 24, 2020 must be disclosed by December 23, 2020, i.e. 90 days after Bill 42 received assent.

Failure to comply with the new disclosure requirement will result in penalties up to $5,000, as well as the suspension of the limitation period on assessments.

Filing deadlines

Nominee agreements entered into after May 16, 2019 must be disclosed to Revenu Québec on the later of the following dates:

Nominee agreements must be disclosed by December 23, 2020.

  • The 90th day following the conclusion of the nominee agreement; or
  • December 23, 2020, i.e.the 90th day following the day Bill 42 received assent.

Parties to such an agreement entered into before May 17, 2019 are also required to file a disclosure by these deadlines at the latest, to the extent that the tax consequences of the transaction or series of transactions in respect of which the agreement relates continue after May 16, 2019.

If you are a member of a partnership that is party to such an agreement, you are also subject to the disclosure requirement.

Disclosure requirement

The disclosure must be made through a Form TP-1079.PN-V, sent under separate cover by registered mail. It shall include all information required therein, including the following:

  • The date the nominee agreement was entered into;
  • The identity of the parties to the nominee agreement;
  • A full and sufficiently detailed description of the facts of the transaction or series of transactions to which the nominee agreement relates and the identity of any person or entity for which such transaction or series of transactions has tax consequences.

Do not hesitate to contact your Raymond Chabot Grant Thornton advisor who can help you determine which measures apply to your situation and assist you with the steps needed to comply with them.


1As announced by the Québec Ministry of Finance in Information Bulletin 2019-5 released on May 17, 2019.

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27 Nov 2020

The results for the 2020 CFE for chartered professional accountants were released on Tuesday, November 27, 2020.

Congratulations to our future CPAs on having passed this rigorous professional evaluation:

Bélanger, Myriam
Benzid, Fetta
Bernier, William
Bérubé, Pierre-Luc
Bibeau, Mathieu
Boisvert, David
Boutin, Any-Claude
Breton, Rosalie
Chalifour, Heidi
Côté-Dumais, Jeanne
Couture, Charles-Olivier
Custeau, Patricia
Danis, Meghan
Dejulliot Virginie
Desjardins, Carl
D’Onofrio, Alessandra
Dorval, Jérôme
Dufresne, Simon
Dugas, Sébastien
Duval, Florence
Fahmoune, Kenza
Farhood, Myriam
Fiset, Émilie
Fronteddu, Laurent
Gagnon Bouchard, Antoine
Gaudreau, Jean-Christophe
Génier, Claudia
Gravel, Kim
Guévin, Frédéric
Hébert, François
Joly, Mélanie
Juneau, Anthony
Kaur, Saran
Lachance, Élise

Lacharité, Audrey
Landry, Samuel
Latrach, Hanaa
Lefebvre, Thomas
Lemire, Vincent
Lépine, Nathalie
Lessard, Félicia
Limoges, Yanik
Louis Seize, Chloé
Mailhot, Pierre-Alexandre
Mailloux, Louis-Philippe
Mailloux, Marjorie
Mailloux, Sandrine
Morissette, Mélanie
Nadeau, Sophie
Nkaye, Antoine
O’Shaughnessy, Rose
Perron, Cynthia
Plamondon, Audrey
Poirier, Benoit
Poirier, Samuel
Poulin, Dannick
Prémont, Antoine
Richer, Danick
Rousseau, Jonathan
Roy-Lemay, Jonathan
Russo, Kayla
Sanche-Mayer, Rose
Sardella, Danny
St-Laurent, Karol-Anne
Thibault, Charles
Thiboutot, Caroline
Trudel, Martin
Vlassopoulos, Vlassis

Congratulations to all and enjoy a prosperous career at Raymond Chabot Grant Thornton! We are very proud of having you on board with us.

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20 Nov 2020

Updated March 3, 2021

Bill C-9, assented to on November 19, 2020, introduces the new Canada Emergency Rent Subsidy (CERS).

This subsidy is intended to replace the Canada Emergency Commercial Rent Assistance (CECRA) with a program similar to the one offered under the Canada Emergency Wage Subsidy (CEWS), by providing direct assistance to qualifying entities, whether they are renters or owners of commercial property.

This subsidy provides relief for expenses incurred by eligible businesses and organizations for the rental or ownership of real property used in the course of their activities. This subsidy takes effect retroactively as of September 27, 2020 and will be offered until June 2021.

The base portion covers up to 65% of eligible expenses. Additional assistance of 25% is offered to lessees who had to temporarily cease their activities in a given location, due to public health restrictions.

April 22 deadline approaching for CERS claim period 1.

Be aware that after this date, businesses will no longer be able to apply for the CERS claim period 1 (September 27 – October 24, 2020).

Our experts are trained to assist you in the analysis of the eligibility criteria for the CEWS and for the preparation of your application. They will be able to help you make informed choices, particularly as to the methods for calculating the revenue reduction test. With their advice, you can maximize the amounts claimed while limiting your risk of dispute in this regard. Don’t hesitate to contact your advisor to discuss it.

To learn more regarding this subsidy, please read our tax news, which is regularly updated.

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11 Nov 2020

Raymond Chabot Grant Thornton – always a proud partner of the Fédération des chambres de commerce du Québec’s (FCCQ) prestigious Mercuriades contest.

With its focus on the growth of local businesses, Raymond Chabot Grant Thornton continues its involvement by presenting the Mercure Entrepreneuriat Raymond Chabot Grant Thornton This award is presented to two organizations, one SME and one large company, for implementing a winning growth strategy, developing a succession plan or achieving a successful intergenerational transfer.

The FCCQ has been celebrating the success of exceptional organizations and leaders for 41 years, and Raymond Chabot Grant Thornton is very pleased to confirm its commitment to recognizing Quebec’s entrepreneurial talent.

SMEs and large corporations that want to submit their candidacy in one of the 16 categories, including the Mercure Entrepreneuriat, can do so until December 18, 2020 (free registration). Submit your application on the FCCQ’s Mercuriades 2021 web site.

Good luck to all businesses!