05 Mar 2015

Bureau de Saint-Jérôme

Great news! To serve our clients better and always be more proactive in realizing the full potential of the Saint-Jérôme region’s businesses, Raymond Chabot Grant Thornton will move to more modern and more functional premises on March 6.

Formerly known as Rochon, Thériault, Chartrand, the office is relocating to 296, rue De Martigny Ouest, Suite 100, that is, in the same building but from the entrance facing the highway.

We wish the entire team success in their new offices and look forward to welcoming you in our dynamic new environment!

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27 Feb 2015

Luc Lacombe, Tax Partner, analyzes the advantages of the TFSA in an article published in La Presse on February 11. According to the expert, the TFSA offers many advantages for investors, financial institutions and also suits the government. Mr. Lacombe would not be surprised if this tax measure would be improved in the next budget of the Minister of Finance.

For more information, see the article at the following link:
http://affaires.lapresse.ca/portfolio/celi/201502/11/01-4843187-une-option-depargne-prisee.php

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24 Feb 2015

MONTRÉAL, February 24, 2015 – In connection with pre-budget consultations, Raymond Chabot Grant Thornton is calling on the Quebec government to take action with respect to tax incentives, entrepreneurial succession and innovation, suggesting nine recommendations related to these three strategic areas.

Tax Incentives

As it has actively done since 2010, the firm continues to reiterate how important it is to stop penalizing business owners who transfer their business to family members. Currently, it is more advantageous for owners to sell their business to a stranger rather than to a company held by their own children. Tax equity during intergenerational business transfers is essential in order to foster the next generation. The Quebec government should set the example by amending the Quebec Taxation Act in order to make business transfers more efficient.

“To boost economic growth, the firm is even suggesting that the Quebec government abolish the business tax for SMEs with annual revenues under $500,000 so that they invest these amounts in productivity, employment and innovation,” commented Emilio B. Imbriglio, President and CEO of Raymond Chabot Grant Thornton.

Entrepreneurial Succession

“Planning is a must when it comes to succession. Managers are responsible for having an appropriate succession plan that considers all transfer issues, be they fiscal, strategic, human, legal or financial in nature, so that they can properly pass the torch to the next generation,” added Imbriglio.

Effective succession planning usually takes anywhere from two to eight years. Unfortunately only 9% of business owners have a formal plan in place. That’s why Raymond Chabot Grant Thornton is suggesting that the Quebec government develop new mechanisms to ensure that succession plans are applied efficiently, in particular, by certifying professionals and accrediting plans.

Innovation

For this important strategic issue, the firm is suggesting an innovation tax credit be created to help SMEs increase their technological investments and spur their growth. Currently, the scientific research and experimental development (SR&ED) tax credit is only offered to businesses conducting research.

Contrary to direct aid schemes, which are burdened by red tape, overly arbitrary and unpredictable, tax credits are quicker to implement since they are already being used by many companies. If the rules are simple and stable, they will be easy to apply.

To view Raymond Chabot Grant Thornton’s recommendations in the letter sent to Quebec Finance Minister Carlos Leitão, visit: www.rcgt.com/budget-consultations2015-2016. (Letter in French only.)

About Raymond Chabot Grant Thornton

Founded in 1948, Raymond Chabot Grant Thornton 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 member and correspondent firms in more than 100 countries.

– 30 –

Source:
Francis Letendre
Senior Consultant – Public Relations
Raymond Chabot Grant Thornton
Tel.: 514-390-4201
[email protected]

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24 Feb 2015

On February 4, 2015, La Presse dedicated its portfolio to income tax. Raymond Chabot Grant Thornton’s Tax Partner, Sylvain Moreau, collaborated on the two articles in this special section, which dealt with trends for small business and self-employment. He made observations regarding the trends prevailing in taxation for small business, while providing tips and answering some questions specific to self-employment.

To read the articles:

http://affaires.lapresse.ca/portfolio/impots/201502/04/01-4841137-impots-tendances-fiscales-pour-petites-entreprises.php
http://affaires.lapresse.ca/portfolio/impots/201502/04/01-4841139-impots-six-questions-sur-la-fiscalite.php