14 Feb 2019
Sarah Phaneuf
Partner | CPA, CA, M. Fisc., M. Sc. | Tax

What changes should taxpayers be aware of for their 2018 tax returns? Our tax specialist, Sarah Phaneuf, highlights some new developments.

The 2018 tax season is just around the corner. Sarah Phaneuf, Tax Partner at Raymond Chabot Grant Thornton, contributed to a Protégez-vous magazine article (February 2019 edition) and discussed a number of changes individuals should be aware of in their tax returns.

Phaneuf identified a variety of tax measures and added:

“Some tax credits have been enhanced or extended to support the middle class and have wealthier individuals pay more taxes. For example, given the worsening workforce shortage due to massive baby-boomer retirements, a number of smaller measures encourage individuals to work more or longer.”

“Additionally, since January 2018, income splitting measures at both the federal and provincial levels have been significantly curtailed. This will limit tax savings for contractors and incorporated professionals (physicians, accountants, lawyers, etc.) who could previously split some dividend income with their spouse or adult children.”

Read the full article (in French) in Protégez-vous.

Consult our online Tax Planning Guide for help in preparing your tax returns.

To call on the help of a professional, use taxo.ca, an online tax service for individuals that is available year-round. Enter your data quickly, at any time, and let our professionals do the calculations for you.

Remember that the 2018 tax filing deadline is April 30, 2019.

14 Feb 2019  |  Written by :

Sarah Phaneuf is a partner at Raymond Chabot Grant Thornton. She is your expert in taxation for the...

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13 Feb 2019
Sarah Phaneuf
Partner | CPA, CA, M. Fisc., M. Sc. | Tax

The inescapable workforce shortage issue requires organizations to reinvent themselves. Increasingly, they are introducing initiatives to attract and retain employees.

The Raymond Chabot Grant Thornton Saguenay–Lac-Saint-Jean Partners had a bold and original idea to offer a trip to New York City to some 100 employees on February 1-3, 2019.

Éric Dufour, Regional Vice-President stated: “We practise what we preach! We support organizations in deploying strategic human resource activities. We have to adapt as well and ensure that our employees have a high happiness and engagement index.”

The New York trip was the culmination of an ongoing improvement initiative involving employees during 2018.

Claudie Arcand-Bellemare, Tax Consultant said: “It was awesome. It’s a privilege to work for an employer of choice who gives us the opportunity to have exceptional experiences and strengthen the bonds with our colleagues. Everybody came back from the trip more motivated than ever.”

In addition to the reward, new measures were introduced recently to meet the needs of the new generations, such as flexible schedules, a new dress code and a new governance structure.

RCGT à New York

14 Feb 2019  |  Written by :

Sarah Phaneuf is a partner at Raymond Chabot Grant Thornton. She is your expert in taxation for the...

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11 Feb 2019
Sarah Phaneuf
Partner | CPA, CA, M. Fisc., M. Sc. | Tax

Louis Roy, President of Catallaxy, commented in the media on the lack of guidance surrounding cryptocurrency exchange platforms.

In this highly publicized case in early February 2019, Raymond Chabot Grant Thornton’s partner expressed in several media outlets that “this event highlights the extent to which governance, regulation and internal control are needed in this sector of activity. Currently, it is not monitored at all”.

In an interview with L’heure du monde, broadcast on Radio-Canada, Louis stated that presently, there is no firm law on virtual currency exchange platforms.

“If the regulations applicable to financial institutions had been in effect, investors wouldn’t be in this situation. Their assets would have been held by a custodian, that is, a third party charged with safekeeping the assets of the clients on the exchange platform.”

Since 2014, Canadian and European authorities, namely the G20, have been developing new international regulations on the proceeds of crime (money laundering) and terrorist financing. Louis Roy insists on the fact that it is crucial to standardize regulation in both the law and the definitions attributed to cryptocurrencies.

“Under the law, cryptocurrency is considered a currency. However, from a tax point of view, it is considered property, so there are still numerous inconsistencies between the laws and we need to ensure that the public is protected.”

A guest of Anne-Marie Dussault’s on the 24/60 show broadcast on RDI, Louis pointed out the importance of informing investors about the current lack of internal control and the risks of investing in cryptocurrency.

“At Catallaxy, this is exactly what we promote: implementing governance and auditing in the world of cryptocurrency.”

Louis highlighted all of the advantages of blockchain technology, the first use of which is currently for virtual currency.

On Phare Ouest, broadcast on Radio-Canada and hailing from the Vancouver region, Louis reiterated: “I think there has to be a wake-up call in this activity sector. If we want the industry to listen, there need to be regulations that protect investors and savers. There is some regulation, but it needs to be adjusted.”

You can also read Louis Roy’s comments on Conseiller.ca and in Le Devoir on February 6 and Le Devoir on February 9.

Consult Catallaxy to learn more about the services offered.

 

 

 

14 Feb 2019  |  Written by :

Sarah Phaneuf is a partner at Raymond Chabot Grant Thornton. She is your expert in taxation for the...

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11 Feb 2019
Sarah Phaneuf
Partner | CPA, CA, M. Fisc., M. Sc. | Tax

For over 70 years, our clients’ trust has been based on our experts’ competence, diligence, integrity and concern for excellence.

We are very proud to introduce thirteen new passionate and experienced partners.

Every year, we do our utmost to enable our professionals to grow to their full potential so they are able to successfully guide our clients in their own growth.

To present them to the business community, Raymond Chabot Grant Thornton will publish an ad in Les Affaires (February 23, 2019).

Jean-François Fortin – Assurance – Bas‒Saint-Laurent/Gaspésie-Îles-de-la-Madeleine region
Nathalie Trottier – Tax – Abitibi-Témiscamingue region
Olivier Chauveau – Assurance – Montréal region
Mathieu Valcourt – Financial advisory – Montréal region
Pier-Paul Belzil-Lacasse – Recoverty and reorganisation – Abitibi-Témiscamingue region
Yvan Lavoie – Assurance – Bas‒Saint-Laurent/Gaspésie-Îles-de-la-Madeleine region
Sylvain Prince – Risk management – Estrie region
Christine Girouard – Tax – Montréal region
Lise Darras – Assurance – Montréal region
Charles David – Tax – Montréal region
David Mayrand – Management consulting – Montréal region
Normand Houle – Management consulting – Montréal region
Hugues Lepage – Management consulting – Montréal region

Congratulations to our new partners!

 

Nouveaux associés 2019 - RCGT

14 Feb 2019  |  Written by :

Sarah Phaneuf is a partner at Raymond Chabot Grant Thornton. She is your expert in taxation for the...

See the profile