On September 26, 2017, Raymond Chabot Grant Thornton President and CEO, Emilio B. Imbriglio, visited several Eastern Township cities to meet the region’s talented people, including some fifty Granby, Bromont and Cowansville office employees. The employees had been invited to the Granby office for a very productive, casual breakfast meeting with Emilio.
On the heels of this enjoyable meeting with colleagues in Granby, Emilio visited some of the vibrant businesses that are a source of great pride in this vast and beautiful region (Artopex in Granby and Enviro 5 in Roxton Pond).
Ideas to stimulate the economy
Under the theme Oser : pour un Québec plus compétitif, Emilio then addressed some 100 business people and elected officials from the region at the Chambre de commerce de Brome-Missisquoi, where he shared some of the ideas the firm considers crucial to boost the performance of Quebec businesses and Quebec’s prosperity.
President and CEO, Emilio B. Imbriglio, with elected officials from the region, Mélanie Gobeil, Director General of the Chambre de commerce de Brome-Missisquoi, Marc Legendre, Partner and Coordinator of the firm’s offices in the region, (second last to the right) and Guy Fauteux, Eastern Townships Region Vice-President (on the far right).
Emilio said, “[…] Yes, our economy is faring better. The GDP is up and unemployment is down. The challenge now is to successfully ride this wave of growth. We seem to be going in the right direction… but, collectively, we need to be bold, to continue working for the prosperity of Quebec and its wealth creators”.
Here are some of the measures Emilio proposes; in many cases, we’ve already taken public positions on these in recent years and they’ve been the topic of numerous speeches.
- Abolish corporate income tax on the first $500,000 of an SME’s taxable income, provided that the savings be invested in productivity, employment and innovation in a manner that avoids abuse. Investments could be subject to accelerated CCA, possibly grossed up in the year.
- Set up a fund to support businesses so they can call upon professionals to support their business transfer and successor development process.
- Adopt business transfer tax equity measures for all businesses in all industry segments in Canada. The federal government should act promptly in this respect. While tax equity now exists in Quebec, the provincial government should nevertheless eliminate the restrictions on business sellers, in particular the requirement to undertake a complete transfer and to have no interest in the business after the sale.
- Introduce an innovation tax credit, with a less restrictive criteria than those for R&D, to help SMEs increase their technology and marketing investments and fuel their growth.
- Undertake savings and credit consumer awareness radio and television campaigns, similar to: Don’t Drink & Drive, Smoking Kills, Don’t Text & Drive.