16 Nov 2011

Raymond Chabot Grant Thornton is proud of its auditor role in the finalization of an unprecedented partnership arrangement in Quebec between Sobeys and the National Bank of Canada (NBC).

Under the mutual agreement, Sobeys will be able to sell carbon credits produced as a result of improvements to its stores to the National Bank, thereby making it possible to neutralize all of its GHG emissions. This arrangement is the first of its kind between two Quebec-based private companies.

To learn more about the partnership, consult the joint memo issued by Sobeys and NBC!

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10 Nov 2011

Raymond Chabot Grant Thornton played a role in the successful eighth edition of the Logis Rose-Viriginie benefit that took place on November 8 at the Montreal Museum of Fine Arts, raising $115,000. Louise Martel, Consulting Services Partner (Human Resources), co-chaired over the financing committee and Guylaine Dallaire, Tax Partner, accepted the role of top model for the evening for the second year in a row to show designer Michel Desjardins’ collection in the company of artists and business women.

Furthermore, Michèle Perryman, Senior Director in the Executive Search practice, is the Vice-President of the organization and Raymond Chabot Grant Thornton is one the main sponsors.

Congratulations to Louise Martel (first photo, centre) and Guylaine Dallaire (photo on the right) for their commitment to this non-profit organization.

The Only Organization of Its Kind in Quebec

Since 1990, Logis Rose-Virginie, a one-of-a-kind social reintegration program, has been helping women in difficulty to build their future and achieve to their full potential. These women can then progressively regain their dignity, identity and place in society. To this day, 85% of women assisted by the organization have gotten back on track for good! For more information, visit the Web site at www.logisrosevirginie.org.

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10 Nov 2011

Good luck to the Université de Montréal Carabins and the Université Laval Rouge & Or teams, which will be competing for the Dunsmore Cup on Saturday November 12, 2011 at the Telus Stadium in Québec City.

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02 Nov 2011

On October 17, 2011, this group of experts released its report to the public entitled: Innovation Canada: A Call to Action. The objective of the Jenkins panel is to promote the innovation of local businesses, without generally impacting the government of Canada’s research and development (R&D) funding. The group of experts, therefore, made recommendations on the effectiveness of Federal R&D funding programs.

Among the six recommendations to promote business innovation, only one would have specific impacts on scientific research and experimental development (SR&ED) tax credits being claimed by SMEs: Simplify the tax credit incentive used to support small- and medium-sized enterprises.

Three of the suggested measures to achieve this recommendation would have a direct impact on the administration of the SR&ED program:

 Measures  Current Situation  Impacts of Proposed Recommendations
 1. Improve the Preclaim Project Review Service (PCPR) A preliminary review does not guarantee that a project will be eligible for the SR&ED credit once completed. Results in entities receiving prior approval as to their eligibility for the tax credit.
 2. Simplify the base on which the credits are calculated Credits are calculated on the costs of internal and external labour, the material consumed and on equipment used 50% and more on SR&ED.Complex calculations and eligibility that is difficult to estimate and predict Calculate the credits only on the costs related to internal and external labour and gross-up the rate. Simplified calculations and savings for the government. These savings will be redeployed to finance direct support measures for SMEs.
 3. Introduce incentives that encourage SME growth The refundable portion of the credit is paid out, even if the enterprise does not generate taxable income. The refundable portion should be decreased so that a portion of the savings is redeployed to increase the enterprise’s profitability.For those entities in the pre-start-up phase, the refundable tax credit on labour-related costs would be guaranteed for a specific number of years.

 

In conclusion, if the government accepts the key conclusions of the Jenkins report, the program will maintain its status as a cornerstone of R&D financing in Canada and be available to enterprises of all sizes and in every sector. In this case, the program’s eligibility and spirit will remain intact.

To consult the Expert Panel Review report on R&D, go to:
http://rd-review.ca/eic/site/033.nsf/eng/home