13 Aug 2019

Raymond Chabot Grant Thornton is proud to join forces with CCH Tagetik to offer a new automated performance management solution across Canada.

This tool supports the finance department’s consolidation, analysis and reporting processes as well as the finance and operations departments’ planning and budgeting process.

Thanks to the new partnership, one of the only ones between CCH Tagetik and a Canadian firm, the firm can offer its clients the opportunity to lower the Total Cost of Ownership (TCO). This solution streamlines and modernizes budgeting and planning processes, shortens close and consolidation cycles, accelerates the financial reporting process and easily generates in-depth analyses. It has an easy to integrate open, unified and multiplatform architecture.

David Mayrand, Partner, Management Consulting, stated: “In practical terms, this tool serves to simplify up to 70% of the planning cycle, accelerates the closing processes by 50% and reduces reporting time by 40%. These are substantial benefits that we are pleased to offer our clients.”

The new association between Raymond Chabot Grant Thornton and CCH Tagetik expands the EPM solutions offering, which also includes IBM Planning Analytics and SAP BPC.

Our certified experts can help you find the best technology solution for your business. Contact us today to find out how to optimize your financial performance.

To learn more about the CCH Tagetik performance management solution, go to www.tagetik.com.

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07 Aug 2019

The inclusion of every person in his or her workplace, regardless of gender expression or sexual orientation is key for employees’ wellness and any organization’s long-term prosperity.

Four members of the Raymond Chabot Grant Thornton family showed great generosity, conviction and open-mindedness in agreeing to tell us a bit about their personal history in order to help remove the taboos that may affect LGBT individuals in their personal and professional lives.

Joëlle Bélanger – Marketing Advisor

Being a lesbian is not something I brag about, it’s just who I am. Is it easy to respect who you are? It takes time! In my old job, when someone first asked me that infamous question, “Do you have a boyfriend?” I didn’t respect who I was and said no. That much was true, I didn’t have one. On the other hand, nobody asked if I had a girlfriend!

For three years, because of that “No”, my colleagues thought I was a single heterosexual. For three years, I continued to live a lie, without talking about my girlfriend and our daily lives.

When I started at Raymond Chabot Grant Thornton, I swore to myself that I would respect who I am. I didn’t waste any time. On my first day, I think it might have been one of the first things I said to my colleagues. I didn’t want to live a lie anymore. I quickly realized from my team’s reaction that they didn’t really care about my sexual orientation. It was an open-mindedness that makes me feel good and lets me be who I am.

Many people still suffer in silence and freeze when asked a trivial question that causes them discomfort. For a heterosexual, it’s simple, for someone who’s gay, it’s a whole different story.

Joëlle Bélanger

Sylvain Prince – Partner – Regional Director of Professional Standards

How can you be true to your homosexuality at Raymond Chabot Grant Thornton? I’d never asked myself that before, because I never felt different from my heterosexual colleagues, or felt that I was treated differently or labelled.

My career at the firm started when I did my university training here almost 20 years ago, the same year I “came out” to my university friends and met my partner. Never did I feel judged or that my career was hampered because of my sexual orientation. On the contrary, I was recognized for my skills and given the opportunity to take on several professional challenges, such as being named partner recently.

Because I accept who I am, my colleagues and clients know all about it and I think it’s easier for everyone. I don’t feel uneasy talking about my personal life with clients or colleagues or when my spouse joins me for activities.

When I announced to my colleagues that my spouse and I were going to have a child this fall with a surrogate mother, you should have seen how happy they were, there may even have been a few tears of joy!

In short, I truly believe that you can be quite comfortable in your homosexuality at Raymond Chabot Grant Thornton and pursue your career freely.

Sylvain Prince

Christine Régimbal – Partner

I’ve been a proud member of the Raymond Chabot Grant Thornton family for more than 28 years, as well as partner of the firm for almost 18 now. This firm has provided me with many opportunities as well as the tools to strive to achieve my full potential.

It has always offered me a positive work environment and over the years, just like society, our business has evolved into a very accepting work place. As a partner involved in student recruitment, I proudly speak of my wife to the potential candidates. It’s important they understand that Raymond Chabot Grant Thornton offers an environment of inclusiveness and acceptance, and that everyone is encouraged to be themselves.

I’ve recently had the honor of being reelected to the firm’s partnership Board by my peers for a second term. I’m very grateful to my partners for the trust they have shown me and I’m honored to be representing them on the Board.

Christine Regimbal

Patrick Danis – Senior Marketing Advisor

Have you ever had to make a “big announcement” to people around you, whether it was positive or negative? As members of the LGBT community, we often have to make an “announcement” about who we are, which, to me, has often seemed somewhat unfair. So, imagine now that you’re arriving in a new work environment and you have to reveal something about your personal history to people you barely know.

When I started at Raymond Chabot Grant Thornton, I came from a company where, for almost 10 years, I was very open about myself. Now I had to start all over… At the same time, someone I knew once told me, “If you act like it’s not normal, then that’s the message you’ll be sending”.

So, I decided to be totally up front with my new colleagues and my “news” barely had any impact. We just kept talking about our lives, like anyone else would, regardless of their sexual orientation. It’s important to feel good about yourself at work. And thanks to you, dear colleagues, that’s how I feel every day. Thank you!

Patrick Danis

Message from Emilio B. Imbriglio – President and Chief Executive Officer

As I read these words, I felt extremely proud of my colleagues. Their words were moving and they have shown great generosity and courage in telling us their stories.

What I realized when I read the stories was their comfort in being themselves at work but also, a desire that all of our employees, regardless of their background, be able to thrive and be true to themselves at work, like these four inspiring people. Thank you Joëlle, Sylvain, Christine and Patrick.

Since August 1, 2019, Raymond Chabot Grant Thornton is proud to be a member of Pride at Work, an organization that is working towards bringing down barriers to employment for LGBT individuals.

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05 Aug 2019

Nominee agreements will now have to be disclosed to Revenu Québec. On August 22, 2019, Revenu Québec announced an extension of the production deadline in this regard.

Thus, required information returns will have to be filed on the later of the following dates:

  • the 90th day following the conclusion of the nominee agreement; or
  • the 90th day following the day the bill introducing the new measures receives assent. No bill has been published yet in this regard.

On May 17, 2019, the Québec Ministry of Finance released Information Bulletin 2019-5 in which it announced the introduction of a new mandatory disclosure mechanism for nominee contracts.

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.

Disclosure requirement

Information Bulletin 2019-5 provides that the disclosure must be made through a prescribed form that shall include the following information:

  • The date of the nominee agreement;
  • The identity of the parties to the nominee agreement;
  • A full 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;
  • Any other information requested in the prescribed form (when this becomes available).

Filing deadlines

The Bulletin provides that nominee agreements concluded on or after May 17, 2019 must be disclosed to Revenu Québec no later than 90 days after the date on which the nominee agreement was concluded and nominee agreements concluded prior to May 17, 2019 must be disclosed to Revenu Québec no later than September 16, 2019 where the tax consequences of the transaction (or series of transactions) to which the agreement relates continue after May 16, 2019.

However, to maximize compliance with the new obligation, Revenu Québec is extending the deadline for filing the information returns to the later of the following dates:

  • the 90th day following the conclusion of the nominee agreement; or
  • the 90th day following the day the bill introducing the new measures receives assent.

Until the prescribed form is made available by Revenu Québec, disclosure should be made by way of letter including such information. The disclosure made by one of the parties to the nominee agreement will be deemed to have been made by the other party as well.

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.

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31 Jul 2019

In a Presse+ feature on government assistance for Quebec businesses, Luc Lacombe, Tax Partner and Jean-Philippe Brosseau, Senior Manager, Management Consulting, helped demystify various types of assistance and their impacts. Luc Lacombe clarified the difference between a subsidy, a loan and a tax credit. He explained that a tax credit is, “like a subsidy, it’s an amount that’s paid to the organization, but via an existing structure, the tax return”.

The reporter ranked businesses’ government assistance preferences—subsidies are the most popular, followed by tax credits and loans. Investments are the least common option.

Jean-Philippe Brosseau stated: “The first two are interchangeable. The tax credit is more predictable, recurring and available to any business that satisfies the criteria. Subsidies are paid more quickly, but are more subjective.”

To find out more, read the article on Presse+ (in French).