23 Apr 2018

On April 12, 2018, the 19th breakfast conference of the Conseil économique de Beauce (CEB) was held at the Georgesville Conference Centre in Saint-Georges.

Presented by Raymond Chabot Grant Thornton, the theme of this event was “Technological changes to watch for: Are you ready for this new reality?”.

Some 170 business people attended the conferences of our two experts: Louis Roy, Partner, National Assurance Manager and Blockchain Leader, and Éric Nguyen, Senior Manager, Artificial Intelligence and Advanced Analytics.

Intelligence as a corporate and social asset

Éric, who was the first speaker, provided a concise explanation of the issues artificial intelligence presents for society, for bank, financial and manufacturing entities and public sector and retail businesses alike. He went on to say: “The changes attributable to artificial intelligence are already being felt in numerous industries.”

This expert also listed tangible examples of businesses that have successfully adopted artificial intelligence as part of their methodology and mentioned the remarkable evolution of this promising technology that could revolutionize several sectors such as education, medicine, law, etc.

Blockchain technology, a monumental change

Louis explained blockchain in simple terms and its enormous potential for revolutionizing the business world:
He declared that “blockchain will change the way we do business. This is the single most important technological innovation since the birth of the Internet.”

To learn more about these conferences, read the article (in French) here.

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20 Apr 2018

During the Gala des Mercuriades, the Fédération des chambres de commerce du Québec paid tribute to Serge Saucier, president for over 20 years (1980-2001) at Raymond Chabot Grant Thornton. Some 1,000 business people were in attendance to witness this important moment.

Serge Saucier is a key figure in Quebec’s economic history and contributed to making Québec Inc. what it is today. He was instrumental in the creation of institutions such as Caisse de dépôt et placement du Québec and the Fonds de solidarité FTQ. He forged Raymond Chabot Grant Thornton’s identity, established our position on the market and defined our status in the economy. For him, proximity to the client was more than geography, it was the ability to establish a connection and build a relationship.

We invite you to view the video broadcast during the gala (French only) to get to know this exceptional person.

As a partner of the event, President and CEO, Emilio B. Imbriglio, awarded the Mercure Raymond Chabot Grant Thornton – Entrepreneuriat, relève et transfert d’entreprise, to Biron Groupe Santé in the large business category and to Brio Conseils in the SME category.

Congratulations to the finalists and winners in this 2018 edition.

Biron Groupe Santé

Brio Conseils

About the Mercuriades

Launched in 1981 by the Fédération des chambres de commerce du Québec, the Mercuriades business competition is the most recognized and prestigious of its kind in Quebec. Each year, it celebrates the innovation, ambition, entrepreneurship and performance of Quebec businesses, both big and small. To learn about the 2018 winners, visit www.mercuriades.ca.

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19 Apr 2018

New income splitting rules were introduced by the federal government on January 1, 2018. In an article in Les Affaires, Luc Lacombe, Tax Partner at Raymond Chabot Grant Thornton, explains the impact of those new measures.

Those measures alter several aspects of the current law and impact, particularly, the benefits for incorporated professionals and entrepreneurs.

Luc calculated the tax savings that incorporated professionals could earn if they split their income with a spouse and two children through a corporation. “(…) In total, the tax authorities can only recover 28.8% of the $250,000”, he observed. “This structure generates entirely legal tax savings of $40,000! Up until last year, the only thing to keep in mind was to ensure that the money paid to family members as dividends was not returned to the incorporated professional or entrepreneur.”

Use of this practise exploded in the early 2000s when the government granted tax credits to corporations and gradually increased the tax on high income individuals. The gap also increased when incorporation was permitted in several professions, thereby promoting income splitting strategies. Today, numerous advantages have been withdrawn.

Luc states: “I believe without a doubt that this reform targets incorporated professionals, starting with doctors. Through its reform, the government almost entirely cuts off their access to income splitting (among others).”

To learn more about these new measures, read the article (in French only) published in Les Affaires on March 10, 2018.

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13 Apr 2018

Louis Roy, Assurance Partner and Blockchain Technology Leader at Catallaxy, a subsidiary of the firm, recently contributed to an article with The Canadian Press to discuss Canadian securities regulators’ growing interest in cryptocurrencies.

As mentioned in the article, Louis Roy is not surprised by the regulators’ attention to cryptocurrencies. He goes on to explain: “With initial coin offerings (ICO), in nine out of ten cases, you’ll see just about anything. We firmly believe in the blockchain. What’s unfortunate with ICOs is the scandals that generate bad press. For both investors and companies that want to proceed with an initial offering, prudence is the way to go.”

The more currencies in circulation, the more we can expect regulators to take an interest. To learn more about cryptocurrencies and their impact on the securities markets, read the Canadian Press article in La Presse or Le Droit (in French only).