10 Jan 2019

In his Les Affaires blog, Daniel Germain addresses the thorny issue of inheriting a stock portfolio.

From a tax perspective, the issue is complicated, however, there are options available to the estate. Before making any decisions regarding the shares, the executor should prepare an overview of the situation with the assistance of an accountant experienced in preparing estate tax returns. The capital gains on the stock portfolio could trigger significant taxes payable.

Luc Lacombe, Tax Expert for our firm says, “The tax authorities consider that there is a deemed disposition of all of the person’s property at the time of death, including the stock portfolio.”

Each estate is different. Daniel Germain invites heirs to call on tax advisors who specialize in this area to determine the best solution for their particular situation.

For more information, read the article on lesaffaires.com.

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10 Jan 2019

Grant Thornton Releases its Global Results and Announces Record-breaking Revenue Growth of 9.4% in 2018.

Grant Thornton, the global organization, whose member firms include Raymond Chabot Grant Thornton, published its global results on January 9, 2019 and announced record-breaking revenues of US$5.45B for the fiscal year ended September 30, 2018.

Highlights of the results of the global organization’s member firms are presented below:

  • The global organization recorded growth of 9.4%, the highest in six years.
  • The number of people grew by 6.3% to 52,686 professionals in over 130 countries.
  • The Americas are the largest market with revenues of US$2.5B, followed by Europe with US$1.75B.

Peter Bodin, President and CEO of Grant Thornton International Limited stated: “Despite growing uncertainty in many markets this year from political upheaval and rising trade tensions, Grant Thornton’s robust growth is a solid basis for the next-generation professional services organization.”

Emilio B. Imbriglio, President and CEO of Raymond Chabot Grant Thornton, congratulated the global organization’s member firms for their leadership and mentioned his pride in the 2,500 professionals of Raymond Chabot Grant Thornton whose efforts contribute to these positive results.

He stated: “Our firm is the fourth largest accounting firm in the global organization and is very pleased to contribute to this international success. Our firm’s integrated service offering as well as Grant Thornton’s worldwide network allow us to support local businesses in their growth, on national or international stage. We will maintain our leadership role in this successful global organization dedicated to supporting the growth of businesses around the world while continuing to offer high quality services to our valued clients who have placed their trust in us for 70 years.”

Read the press release announcing the 2018 results of the Grant Thornton global organization.

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09 Jan 2019

SMEs are dealing with a shortage of qualified labour and, in such a context, should involve employees in the decision-making process to a greater extent.

Éric Dufour, Regional Vice-President and Entrepreneurial Succession Leader for the Saguenay–Lac-Saint-Jean–Chibougamau–Côte-Nord regions, encourages the business community to take a page from our firm’s book. He wants to show SMEs in the region that they can offer a work environment tailored to today’s situation that is marked by the arrival of millennials on the labour market.

As he explains, Raymond Chabot Grant Thornton offers flexible hours to make it easier to achieve a work-personal life balance and wants to support SMEs in their transition to a new governance.

Our firm is attentive to its employees: for example, it will be offering the 130 staff in the region a trip to New York at the end of January.

“This engagement activity has been organized to strengthen relationships and reward everyone for their work,” Dufour concludes.

To find out more, read the article on Informeaffaires.com (in French).

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21 Dec 2018

In the special insert on the accounting profession, Les Affaires addressed, among others, the impact of new technologies on the accounting profession.

New technologies help to considerably increase CPAs’ efficiency and change their role to that of advisor.

President and CEO, Emilio B. Imbriglio, welcomes the automation of certain routine tasks that serves to support more strategic decisions, such as the choice of new markets, business partners and acquisitions.

Imbriglio goes on to say that Raymond Chabot Grant Thornton’s willingness to innovate and openness to change are evidenced by its extensive investments in these new technologies to help its experts focus on more profitable tasks.

Read the article in the December 8, 2018 edition (in French, for subscribers only). The other articles in the insert are available here.