Montreal, 11 July 2013 – Raymond Chabot Grant Thornton welcomes today’s announcement by the Minister of Finance and the Economy, Nicolas Marceau, in relation to the extension and improvement of the refundable tax credit for the development of electronic business (CDAE). The tax credit will be extended for a period of ten years from 1 January 2016 until 31 December 2025, while the ceiling of $ 20 000 per job will be increased to $ 22 500 as of 1 January 2016.
This announcement implements the recommendations submitted by Raymond Chabot Grant Thornton in a report completed last February on behalf of 14 companies in the information technology sector. The CDAE having supported 11,650 jobs that generated some $ 253 million in tax revenue in 2011, Raymond Chabot Grant Thornton concluded in its report that the CDAE should be maintained and improved, because of its impact on jobs, the development of local supply and exports in technology business in Quebec.
“This tax measure which is unique in the world, has allowed Quebec to stand out internationally in the field of information technology. The renewal and improvements are great news for all of the Quebec business community, “said Michel Lefebvre, Tax Partner at Raymond Chabot Grant Thornton.
“The impact of CDAE goes well beyond companies that can rely directly on the measure. In addition to participating in the growth of expertise and productivity of local businesses, the credit encourages the attraction and retention of highly strategic foreign investment in the economy of Quebec. We can only welcome this announcement, “said Maxime Godin, Director, Management Consulting at Raymond Chabot Grant Thornton.
“For a Firm like ours, which has supported organizations in Quebec in their success for many years by providing a range of services and strategic advice, we are proud to see that measures having such an impact on the Quebec economy are extended and taken to heart by the authorities. If we have an instinct for growth, we are pleased to see that all actors involved in this dossier do as well, “says Emilio B. Imbriglio, President and CEO of Raymond Chabot Grant Thornton.
About Raymond Chabot Grant Thornton
Founded in 1948, Raymond Chabot Grant Thornton (www.rcgt.com) has become a leader in the fields of assurance, tax, consulting services, and business recovery & reorganization. Its strength is based on a team of over 2,400 people, including some 230 partners in more than 100 offices in Quebec, eastern Ontario and New Brunswick. For over 30 years, Raymond Chabot Grant Thornton has been a member of Grant Thornton International Ltd, providing clients with the expertise of the member and correspondent firms in more than 100 countries.