23 Jun 2015
Éric Lebel
Partner | CPA, CA, CIRP, LIT | Recovery and reorganization

In an interview on the Argent channel, Trustee Partners and Financial Recovery Advisor Eric Lebel emphasized the consequences of the lack of training and awareness of young people regarding financial planning. The situation is especially alarming in Quebec, where young adults in the 18 to 29 age bracket account for more than 12% of insolvency cases (according to the Office of the Superintendent of Bankruptcy Canada).

According to the expert, one of the factors explaining this situation is that “young people are solicited by banks at a very early age to take a credit card. Many of them have a poor understanding of how this works”. Eric Lebel also mentioned other factors that could lead young people into debt: leaving the family home, financing their education, buying a car, and many other temptations that sometimes are more in the realm of wishes than of needs.

The specialist mentioned the absence of awareness campaigns and the abolition of economics courses in Quebec secondary schools in 2009. According to him, parents obviously have a role to play in this learning, but they are not the only ones responsible: society as a whole must take action to prevent young people from going into debt.

23 Jun 2015  |  Written by :

Éric Lebel is a partner at Raymond Chabot Grant Thornton. He is your expert in recovery and...

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19 Jun 2015
Éric Lebel
Partner | CPA, CA, CIRP, LIT | Recovery and reorganization

In an article published on the Autosphere.ca site, Sarah Phaneuf, Tax Partner, discusses certain tax measures affecting SMEs in the automobile industry, mainly regarding the entrepreneurial succession.

Measures that will give companies a helping hand

Ms. Phaneuf points out the federal tax reduction for SMEs from 11% to 9% (reported in the firm’s post-federal budget press release). She also reminds readers of the slight reduction of the Quebec tax rate for companies that report taxable income over $500,000, which drops from 11.9% to 11.5%.

Nothing to encourage the succession

 Sarah Phaneuf regrets that the issue of intergenerational business transfer, which particularly affects automobile wholesalers and repair shops, is not resolved at the federal level, even though it is partly resolved in Quebec. “Unfortunately, in Canada, it is generally disadvantageous for an owner to sell his business to a company held by one of his children instead of a company held by a third party,” she explains. Quebec has restored fairness for the family succession in some sectors, “but the Federal Government has not announced anything in this sense,” the expert adds.

To learn more, see the article Budgets fédéral et provincial : rien pour encourager la relève (Federal and provincial budgets: nothing to encourage the succession)

 

23 Jun 2015  |  Written by :

Éric Lebel is a partner at Raymond Chabot Grant Thornton. He is your expert in recovery and...

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19 Jun 2015
Éric Lebel
Partner | CPA, CA, CIRP, LIT | Recovery and reorganization

Guy Barthell, Strategic and Performance Counselling Partner, comments on the trends and outlooks of the Quebec manufacturing sector on the Argent channel. This interview is in the context of Raymond Chabot Grant Thornton’s release of the Quebec Component of the Cross-Canada Manufacturers’ Outlook 2015 Study, based on a survey of 500 executives in the manufacturing sector, 25% of them Quebecers.

Mr. Barthell points out that the manufacturing sector is regaining optimism in Quebec, particularly due to the Canadian dollar’s weakness against the US dollar. “This period must be used to invest in our equipment, employee training, innovation and the development of our markets, because Quebec faces major challenges in a context of global competition,” explains Guy Barthell.

The expert mentions that Quebec is lagging behind other non-emerging countries. “While the manufacturing sector in these countries generally represents 16% of GDP, in Quebec it ranges between 13% and 14%, Mr. Barthell adds. He considers it important to strengthen the province’s manufacturing sector, because it creates high value-added, well-paid jobs, among other benefits. “The manufacturing sector’s development spills over into all sectors, including the service sector, and the economy in general,” Mr. Barthell concludes.

To learn more, watch the June 3 interview on the Argent channel.

23 Jun 2015  |  Written by :

Éric Lebel is a partner at Raymond Chabot Grant Thornton. He is your expert in recovery and...

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17 Jun 2015
Éric Lebel
Partner | CPA, CA, CIRP, LIT | Recovery and reorganization
Emilio B. Imbriglio

Emilio B. Imbriglio

Emilio B. Imbriglio, President and CEO of Raymond Chabot Grant Thornton, talks about creativity with journalist Isabelle Massé in an article published on La Presse +. The President and CEO emphasizes the importance of creativity in business and at work.

 Creative business people

For Mr. Imbriglio, creativity can be expressed in every field. “Traditionally, we associate creativity with the arts, which are fertile soil for new ideas. In my opinion, all fields of activity are just as fertile,” he explains. “The 2500 people who work at Raymond Chabot Grant Thornton are each creative in their field, in taxation, recovery, auditing and consulting,” the President and CEO illustrates.

Quebec fertile soil for creativity

Mr. Imbriglio considers that Quebec is particularly fertile soil for creativity. “I travel regularly throughout Quebec and what I see never ceases to amaze me. The province is full of creative genius,” he recounts. However, he regrets this creativity is not promoted enough at the international level. “We remain the best-kept secret on the planet (….) The challenge is to liberate this wealth.”

To find out more, see the article: “Les secrets de la créativité (Secrets of creativity), by Emilio Imbriglio”. (An erratum has been published to correct the name of the President and CEO.)

23 Jun 2015  |  Written by :

Éric Lebel is a partner at Raymond Chabot Grant Thornton. He is your expert in recovery and...

See the profile