31 May 2019

Blockchain is being increasingly talked about. While the technology is often associated with cryptocurrencies, it has other uses.

Louis Roy, President of Catallaxy, the Raymond Chabot Grant Thornton subsidiary that specializes in blockchain solutions, spoke about this new technology in two media interviews.

As part of the release of the 500 most important businesses in Quebec in 2019, where Raymond Chabot Grant Thornton ranked 58th, Alain McKenna of Les Affaires wrote an article on large organizations involved in technological innovation.

Louis Roy spoke about the creation of Catallaxy in 2017 and the issues surrounding this new technology. He explained that, among others, “for the firm, Catallaxy is somewhat of a defensive move, but we’re preparing for the future. It’s only a matter of time before our clients will need to have digital assets or crypto funds audited and we are one of the few organizations in Canada with that ability. We’ve also become a blockchain reference centre for other members of the Grant Thornton organization around the world.”

In an interview with Karine Boivin Forcier of Informe Affaires, Louis Roy said: “One innovative aspect of this technology, […] is that it makes it possible to follow digital paths and log this flow without human intervention.” He added that the technology can be applied in several fields, not just the financial sector, such as insurance or large businesses.

He also stated that cryptocurrencies comprise a multitude of risks and that Catallaxy specializes in supporting organizations wishing to explore this avenue.

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31 May 2019

In an interview on TheFutureEconomy.ca, Emilio B. Imbriglio, President and CEO of Raymond Chabot Grant Thornton, spoke about a number of current issues and challenges in Quebec’s economy.

He set out what he considers to be Quebec’s economic strengths and weaknesses. He discussed what he considers to be drawing points for foreign investors interested in Quebec for their projects. He also commented on labour shortages, automation and technological change.

In Mr. Imbriglio’s opinion, it’s important to foster education and he encourages governments to recognize foreign workers’ diplomas and develop a sound education equivalencies system.

Lastly, he provided advice to young entrepreneurs, urging them to make their mark in our economy.

Read the article online to learn more.

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30 May 2019

The Les Affaires Top 500 ranking of the most important businesses in Quebec confirms once again Raymond Chabot Grant Thornton’s weight within the Quebec economy.

Emilio B. Imbriglio, President and CEO, stated: “Ranked 58th, our firm plays a key role with local businesses. In addition to being a major Quebec employer with more than 2,600 employees, in over 100 offices, we’ve been guiding leaders and entrepreneurs towards success for more than 70 years. The success of our clients and provincial organizations contributes to the development of all of Quebec. This is what motivates us every day, helping us constantly grow and provide high quality services that always meet the ever-changing needs of our clients and Quebec business leaders.”

Our firm is very proud to be Quebeckers’ most admired accounting firm, as confirmed once again this year by the Léger survey published in Les Affaires. Furthermore, in 2018, the famous Forbes magazine listed the firm among best Canadian employers and ranked it first in the professional services category. These are but a few examples clearly demonstrating the excellence that drives the firm`s professionals on a daily basis.

Our firm’s 70th anniversary in 2018 was highlighted during two major events: a tribute to one of the firm’s founders, Serge Saucier, during the prestigious Fédération des chambres de commerce du Québec Les Mercuriades gala, and recognition of the firm’s importance in Quebec for the past 70 years at the Les Prix Créateurs d’emplois gala, in Québec City, with numerous dignitaries in attendance.

At the 2018 Prix Créateurs d’emplois du Québec gala, Mr. Imbriglio had the privilege of receiving recognition from the Premier of Quebec, among others, for the firm’s success.

Imbriglio added: “If today, Raymond Chabot Grant Thornton is a force in the market and partner of choice for businesses, we have to thank Serge Saucier for his talent and leadership. This former CEO and excellent contributor to the firm’s development in all regions of the province deserves our full admiration. He was a builder in Quebec and exceptional leader for the firm. We are very pleased that he was recognized before the business community last year for his incomparable contribution to the success of Quebec.”

Our firm would therefore like to thank its clients and business partners who enable it to remain a Quebec and Canadian professional services leader. Thank you to all!

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29 May 2019

Is it more advantageous, from a tax perspective, for a business manager to opt for dividends over a salary? The answer is not clear.

This is what Daniel Germain of Les Affaires found out in discussions with specialists, including Pascal Leclerc, Tax Partner at Raymond Chabot Grant Thornton.

At one time, based on the company’s financial results, the rule of thumb indicated that dividends were the right choice. Today, tax rules are complex. Dividends are certainly simpler, from an administrative point of view, but there are several types of dividends, and businesses must now meet new tax obligations and comply with payroll tax rules.

According to Pascal Leclerc, things used to be easier: “Business owners with profits in excess of $500,000 could be told to pay themselves a salary without having to perform the complex calculations we do today. Owners whose business earned less were advised to pay themselves dividends. Now, for the latter, it’s less obvious. The decision requires more calculations.”

Read the online article in French (for subscribers).

Call on our expertise to make sure you make the best choice for your situation.