Quebec budget After six consecutive years of deficits [ ] Quebec is finally returning to budget balance in
|
|
- Moris Mathews
- 6 years ago
- Views:
Transcription
1 2015 Issue No March 2015 Tax Alert Canada Quebec budget After six consecutive years of deficits [ ] Quebec is finally returning to budget balance in EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical summaries to keep you on top of the latest tax issues. For more information, please contact your EY advisor. Carlos Leitão, Quebec Finance Minister Budget speech Quebec Finance Minister Carlos Leitão today tabled the province s budget titled Together, building our economy. As forecast last June and announced in December s economic update, the deficit for fiscal stands at $2.35 billion. The minister is aiming for a return to budget balance in mainly by restoring sound public finances and putting government finances in order. Spending growth of 2.3% in fiscal will be reduced to 1.5% for fiscal As the minister stated, it seems clear that budget balance cannot be achieved overnight. According to preliminary results, as at 31 March 2015, the province s gross debt should stand at $206 billion, compared with $197 billion as at 31 March As at 31 March 2015, the debt is expected to represent 54.9% of GDP and the forecast is to reduce that percentage to 49.4% in As promised, the budget contains no tax or user-fee increases. To create favourable conditions for economic growth, the minister announced new measures to ease the tax load and stimulate investment and employment. Over 20 of these were drawn directly from the report of the Quebec Taxation Review Committee. However, given current budget constraints, most of the measures will only come into effect starting in Following is a brief summary of the key tax measures.
2 Corporate tax measures Corporate business income tax rate Reduction of the general tax rate The general tax rate will be gradually reduced by 0.4% from 2017 to Current % 11.8% 11.7% 11.6% 11.5% Where a corporation s taxation year does not coincide with the calendar year, the tax rate effectively applicable will be a weighted rate. Small-business deduction (SBD) Despite the reduction of the general tax rate, the SBD will be maintained at 8%. However, to benefit from the SBD, for a taxation year beginning after 31 December 2016, a corporation must generally have more than three full-time employees or be a corporation in the primary and manufacturing sectors. Changes are made to the additional deduction for manufacturing small and medium-sized businesses (SMBs) to extend eligibility for the additional deduction to corporations in the primary sector. The additional deduction rate will reach 4% where the proportion of activities in the primary and manufacturing sectors is 50%, and will be reduced linearly where the proportion is between 50% and 25%. These amendments will apply for taxation years beginning after 31 December Health Services Fund The Health Services Fund contribution rate for SMEs in the service and construction sectors with a payroll of than $5 million will be reduced gradually over three years starting in Place where the property acquired is to be mainly used Rates applicable before January 1, 2017 Paid-up Paid-up capital of capital of $250 $500 million or million or more Rates applicable after December 31, 2016 Paid-up Paid-up capital of capital of $250 $500 million or million or Remote zones 32% 4% 24% 4% Eastern part of the Bas-Saint- Laurent administrative region 24% 4% 16% 4% Intermediate zones 16% 4% 8% 4% Other regions 8% 4% 0$ 0$ The Act will be amended so that equipment may qualify for the purposes of the tax credit if it is acquired before 1 January Tax credit for on-the-job training Subject to certain conditions, the base rate of the refundable tax credit for on-the-job training will be increased to 40% for corporations and to 20% for individual taxpayers. These amendments will apply in respect of a qualified expenditure incurred after the day of the budget speech relative to an eligible training period beginning after that day. Refundable tax credits for the production of multimedia titles The tax legislation will be amended to provide that the former rates of the tax credit regarding general component and specialized component will be restored to the maximum rates of 37.5% and 26.25%, respectively. In addition, the qualified labour expenditure in respect of an eligible employee may not exceed $100,000, calculated on an annual basis. However, this limit will not apply in certain circumstances. The changes to this credit will apply for expenditures incurred after 26 March For a corporation s taxation year that includes this day, the limit will be prorated. Tax credit relating to manufacturing and processing equipment The tax credit rate relating to manufacturing and processing equipment will be revised as follows: Quebec budget
3 Refundable tax credit for the development of e-business(tceb) and addition of a nonrefundable tax credit The planned end date of 31 December 2025 for this tax credit will be eliminated. Changes will be made to provide for the exclusion of qualified wages of employees working on certain government contracts. An additional nonrefundable tax credit of 6% will be added to the current 24% refundable TCEB. These amendments will apply to wages incurred by a qualified corporation s eligible employees after the day of the budget speech. Tax credits for the cultural sector The budget restores the initial rate of 35% for refundable tax credits for the production of sound recordings, the production of performances, film dubbing, book publishing and the production of multimedia environments or events staged outside Quebec. Refundable tax credit for international financial centres (IFC)and addition of a non-refundable tax credit A number of changes will be made to the refundable tax credit for IFCs to replace it by a non-refundable tax credit of 24%, up to a maximum of $16,000 per employee. However, the refundable tax credit will be maintained for back-office activities. These amendments will apply to a corporation s taxation year beginning after the day of the budget speech. Personal tax measures Gradual elimination of the health contribution The health contribution will be gradually eliminated beginning in 2017 and will be completely eliminated by The maximum amount payable will decrease from $1,000 to $800 in 2017, then to $600 in For taxpayers with income below $40,000, the elimination will be completed in Enhancement of the tax credit for experienced workers The age of eligibility for the tax credit for experienced workers will be lowered from 65 to 63. In addition, the maximum amount of eligible work income on which the tax credit is calculated, currently set at $4,000, will be increased to $10,000 for all workers age 65 and over. This tax credit will be reducible based on work income. Introduction of a tax shield To encourage households to increase their income levels while limiting the reduction in tax incentives or credits that could result from the increase in their income, a new refundable tax credit, called the tax shield, will be implemented as of The purpose of the tax shield is to offset, further to an increase in work income, a part of the loss of the socio-fiscal transfers designed specifically to incentivize work. Increase in the eligibility age for the tax credit with respect to age The eligibility age for the tax credit will gradually be raised from 65 in 2015 until it reaches a minimum age of 70 for any taxation year after Review of the operating terms of the solidarity tax credit New measures will be taken to improve the management of the solidarity tax credit. Among them, the tax credit will be determined annually rather than monthly, based on the information contained in the tax return. However, depending on the value determined, the tax credit will be paid on a monthly, quarterly or annual basis. New assistance program for seniors to partially offset a municipal tax increase As of 2016, the Act respecting municipal taxation will be amended to provide that seniors who are long-time homeowners can, provided certain conditions are met, receive a grant to partially offset the municipal taxes on their Quebec budget
4 residence following an increase in its value if the increase significantly exceeds the average increase for certain residential immovables for the municipal territory as a whole. Other tax measures Interposition of a trust or partnership for the purposes of preferential tax measures To counteract legal structures involving the interposition of a trust or partnership, the tax legislation will be amended to deem the attributes of a trust or partnership to be those of a corporation for the purposes of the integrity rules pertaining to certain tax credits that call into play the notions control of a corporation, persons not dealing at arm s length, associated corporation or corporation exempt from tax. These measures will apply to a taxation year ending after the day of the budget speech. Change to the calculation of a taxable benefit of an employee for the purposes of a refundable tax credit A general amendment will be made to the tax legislation so that the value of a taxable benefit may be factored into the calculation of an employee s salary or wages for the purposes of refundable tax credits only where the employer paid the value of the benefit by means of a monetary amount. This amendment will not apply to refundable tax credits in respect of which a restriction on employee benefits already exists. This amendment will apply to a taxpayer s taxation year beginning after the day of the budget speech. Changes to the rules pertaining to the 12-month time period for applying for a refundable tax credit The Tax Administration Act will be amended to withdraw Revenu Québec s discretion regarding the late filing of an application for a certificate or other document necessary for the purposes of a refundable tax credit. This amendment will apply to a taxpayer s taxation year beginning after the day of the budget speech. Changes to the compulsory disclosure mechanism for certain transactions The tax legislation will be amended to broaden the scope of the existing obligation to disclose aggressive tax planning schemes. In particular, any transaction involving conditional remuneration that is aimed at obtaining a refundable tax credit and that will result in a tax benefit of $25,000 or more will now have to be disclosed in accordance with the compulsory disclosure mechanism. With certain exceptions, these amendments will apply to transactions carried out as of the day of the budget speech. Easing of the tax provisions applicable to the transfer of family businesses Amendments will be made to the Taxation Act to ease the rule requiring the disposition of shares between related persons to be treated as a deemed dividend instead of a capital gain. This easing will be applicable where the seller claims the capital gains exemption in respect of a capital gain realized on the disposition of qualified shares in the primary and manufacturing sectors to a corporation with which the seller is not dealing at arm s length in conjunction with the transfer of a qualified family business. These amendments will apply to share dispositions after 31 December Increase in the threshold for mandatory participation in workforce skills development As of 2015, only employers whose total payroll for a year exceeds $2 million (formerly $1 million) will be required to participate in the development of workforce skills. Quebec sales tax The QST regime will be amended to phase out restrictions, from 2018 to 2021, on input tax refunds in respect of certain goods and services applicable to large corporations. Quebec budget
5 Harmonization measures Quebec tax legislation will be amended to incorporate the amendments announced on 1 March 2015 by the federal Department of Finance with respect to the eligibility of certain expenses incurred as Canadian exploration expenses. Learn more For more information, please contact your EY or Couzin Taylor advisor or one of the following professionals: Stéphane Leblanc, Montreal stephane.leblanc@ca.ey.com Sandy Maag, Montreal sandy.maag@ca.ey.com André Vézina, Quebec andre.vezina@ca.ey.com Esther Gaulin, Quebec esther.gaulin@ca.ey.com And for up-to-date information on the federal, provincial and territorial budgets, visit ey.com/ca/budget. EY Assurance Tax Transactions Advisory About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization and may refer to one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com. About EY s Tax Services EY s tax professionals across Canada provide you with deep technical knowledge, both global and local, combined with practical, commercial and industry experience. We offer a range of tax-saving services backed by in-depth industry knowledge. Our talented people, consistent methodologies and unwavering commitment to quality service help you build the strong compliance and reporting foundations and sustainable tax strategies that help your business achieve its potential. It s how we make a difference. For more information, visit ey.com/ca/tax. About Couzin Taylor Couzin Taylor LLP is a national firm of Canadian tax lawyers, allied with Ernst & Young LLP, specializing in tax litigation and tax counsel services. For more information, visit couzintaylor.com Ernst & Young LLP. All Rights Reserved. A member firm of Ernst & Young Global Limited. This publication contains information in summary form, current as of the date of publication, and is intended for general guidance only. It should not be regarded as comprehensive or a substitute for professional advice. Before taking any particular course of action, contact EY or another professional advisor to discuss these matters in the context of your particular circumstances. We accept no responsibility for any loss or damage occasioned by your reliance on information contained in this publication. ey.com Quebec budget
Tax Alert Canada. Quebec 2014 fall economic update
2014 Issue No. 60 4 December 2014 Tax Alert Canada Quebec 2014 fall economic update EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They
More informationTax Alert Canada. Manitoba budget Business tax measures. Corporate tax rates
2019 Issue No. 6 7 March 2019 Tax Alert Canada Manitoba budget 2019 20 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical
More informationTax Alert Canada. Investment income earned through a private corporation
2015 Issue No. 59 11 December 2015 Tax Alert Canada Investment income earned through a private corporation EY Tax Alerts cover significant tax news, developments and changes in legislation that affect
More informationGradual reduction of the Health Services Fund (HSF) contribution rate for all small and medium-sized businesses (SMBs)
2018 Issue No. 16 27 March 2018 Tax Alert Canada Québec budget 2018-19 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical
More informationBudget Quebec Measures concerning individuals. Measures concerning businesses
Highlights Budget Quebec Measures concerning individuals Gradual elimination of the health contribution as of January1, 2017 Introduction of a tax shield Increase in investments in Québec businesses made
More informationOntario budget
2015 Issue No. 28 23 April 2015 Tax Alert Canada Ontario budget 2015 16 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical
More informationWelcome news for the charitable sector in federal budget Donations related to the disposition of private corporation shares or real estate
2015 Issue No. 29 27 April 2015 Tax Alert Canada Welcome news for the charitable sector in federal budget 2015 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect
More informationOntario budget Deficit and Ontario debt outlook. Table A Projections of Ontario budgetary deficit ($ billions) ($ billions)
2014 Issue No. 39 14 July 2014 Tax Alert Canada Ontario budget 2014 15 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical
More informationTax Alert Canada Private company tax reform: Personal tax increases on noneligible dividends scheduled for 2018 and 2019
Issue No. 51 23 November Tax Alert Canada Private company tax reform: Personal tax increases on noneligible dividends scheduled for and EY Tax Alerts cover significant tax news, developments and changes
More informationTax Alert Canada Prince Edward Island budget
2018 Issue No. 19 9 April 2018 Tax Alert Canada Prince Edward Island budget 2018-19 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They
More informationTax Alert Canada. BC tables LNG income tax legislation. Introduction
2014 Issue No. 55 22 October 2014 Tax Alert Canada BC tables LNG income tax legislation EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses.
More informationOntario budget
2014 Issue No. 32 1 May 2014 Tax Alert Canada Ontario budget 2014 15 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical
More informationCanada: Québec issues budget
28 March 2018 Global Tax Alert News from Americas Tax Center Canada: Québec issues budget 2018-19 EY Global Tax Alert Library The EY Americas Tax Center brings together the experience and perspectives
More informationWe cannot continue to spend beyond our means, and we can no longer keep raising taxes on hardworking New Brunswickers.
2019 Issue No. 10 20 March 2019 Tax Alert Canada New Brunswick budget 2019 20 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act
More informationTax Alert Canada. Alberta budget
2016 Issue No. 22 15 April 2016 Tax Alert Canada Alberta budget 2016-17 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical
More informationA fundamental consideration in virtually all Canadian private company sale transactions is whether the parties wish to structure the deal as either:
2016 Issue No. 16 4 April 2016 Tax Alert Canada Federal budget 2016-17 consequences for Canadian private company sale transactions EY Tax Alerts cover significant tax news, developments and changes in
More informationTax Alert Canada Saskatchewan budget
2018 Issue No. 20 10 April 2018 Tax Alert Canada Saskatchewan budget 2018-19 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act
More informationTax Alert Canada. Changes to the large business simplified method and clarification for its application to expenses incurred before 1 January 2014
2013 Issue No. 37 31 July 2013 Tax Alert Canada Changes to the large business simplified method and clarification for its application to expenses incurred before 1 January 2014 EY Tax Alerts cover significant
More informationTax Alert Canada Manitoba budget
2018 Issue No. 10 13 March 2018 Tax Alert Canada Manitoba budget 2018-19 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical
More informationTax Alert Canada Alberta budget
2018 Issue No. 13 22 March 2018 Tax Alert Canada Alberta budget 2018-19 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical
More informationTax Alert Canada. British Columbia budget
2017 Issue No. 5 22 February 2017 Tax Alert Canada British Columbia budget 2017-18 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They
More informationTax Alert Canada Nova Scotia budget
2018 Issue No. 12 21 March 2018 Tax Alert Canada Nova Scotia budget 2018-19 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as
More informationTax Alert Canada. Manitoba budget
2017 Issue No. 17 12 April 2017 Tax Alert Canada Manitoba budget 2017-18 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical
More informationThe NWMM includes the following business tax measures announced in the 2016 federal budget:
2016 Issue No. 24 19 April 2016 Tax Alert Canada Budget implementation NWMM tabled in the House of Commons EY Tax Alerts cover significant tax news, developments and changes in legislation that affect
More informationTax Alert Canada. Finance tables NWMM for tax measures and adjusts proposed filing deadline for Form T1134s
2018 Issue No. 38 29 October 2018 Tax Alert Canada Finance tables NWMM for tax measures and adjusts proposed filing deadline for Form T1134s EY Tax Alerts cover significant tax news, developments and changes
More informationTax Alert Canada. Ontario budget Deficit and Ontario debt outlook
2016 Issue No. 8 25 February 2016 Tax Alert Canada Ontario budget 2016 17 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as
More informationTax Alert Canada. Canada and the US sign intergovernmental agreement to implement FATCA
2014 Issue No. 9 10 February 2014 Tax Alert Canada Canada and the US sign intergovernmental agreement to implement FATCA EY Tax Alerts cover significant tax news, developments and changes in legislation
More informationTax Alert Canada Ontario budget
2018 Issue No. 17 28 March 2018 Tax Alert Canada Ontario budget 2018-19 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical
More informationCanada amends taxation of investment income earned through a private corporation
14 December 2015 Global Tax Alert News from Americas Tax Center Canada amends taxation of investment income earned through a private corporation EY Global Tax Alert Library The EY Americas Tax Center brings
More informationTax Alert Canada. TCC rejects mark-to-market accounting for option contracts. The decision
2015 Issue No. 42 24 June 2015 Tax Alert Canada TCC rejects mark-to-market accounting for option contracts EY Tax Alerts cover significant tax news, developments and changes in legislation that affect
More informationTax Alert Canada. Proposed changes to section 55. Background. Current section 55
2015 Issue No. 35 8 June 2015 Tax Alert Canada Proposed changes to section 55 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act
More informationCanadian tax alert Quebec budget highlights. March 27, 2018
Error! No text of specified style in document. Canadian tax alert 2018-2019 Quebec budget highlights March 27, 2018 Finance Minister Carlos Leitão today tabled the 2018-2019 Quebec budget entitled A strong
More informationOver 21,000 individual submissions were made to the proposals, including some that were several hundred pages long.
2017 Issue No. 48 25 October 2017 Tax Alert Canada Private company tax reform: where are we now? EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses.
More informationTax Alert Canada. Intra-group services and section 247 of the Income Tax Act
2015 Issue No. 16 3 March 2015 Tax Alert Canada Intra-group services and section 247 of the Income Tax Act EY Tax Alerts cover significant tax news, developments and changes in legislation that affect
More informationTax Alert Canada. Insurance swaps and offshore banking arrangements: Bill C-43 (2014) Insurance swaps
2014 Issue No. 56 28 October 2014 Tax Alert Canada Insurance swaps and offshore banking arrangements: Bill C-43 (2014) EY Tax Alerts cover significant tax news, developments and changes in legislation
More informationCanadian personal tax increases on non-eligible dividends scheduled for 2018 and 2019
27 November Global Tax Alert News from Americas Tax Center Canadian personal tax increases on non-eligible dividends scheduled for and EY Global Tax Alert Library The EY Americas Tax Center brings together
More informationCanada: Québec announces QST and e-commerce measures
5 April 2018 Indirect Tax Alert News from Americas Tax Center Canada: Québec announces QST and e-commerce measures EY Global Tax Alert Library The EY Americas Tax Center brings together the experience
More informationTax Alert Canada. Teletech decision exposes potential pitfalls in obtaining double tax relief. Background
2013 Issue No. 35 29 July 2013 Tax Alert Canada Teletech decision exposes potential pitfalls in obtaining double tax relief EY Tax Alerts cover significant tax news, developments and changes in legislation
More informationTax Alert Canada British Columbia budget
2018 Issue No. 6 20 February 2018 Tax Alert Canada British Columbia budget 2018-19 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They
More informationFor overview of the key elements of the ESTMA, refer to our earlier Tax Alerts, and
2015 Issue No. 49 17 September 2015 Tax Alert Canada Natural Resources Canada releases extractive sector transparency reporting guidance iti l l d b t i t d d EY Tax Alerts cover significant tax news,
More informationTax Alert Canada. Federal Court of Appeal reaffirms the existence of common interest privilege outside a litigation context
2018 Issue No. 11 19 March 2018 Tax Alert Canada Federal Court of Appeal reaffirms the existence of common interest privilege outside a litigation context EY Tax Alerts cover significant tax news, developments
More informationWe would be pleased to meet with you should you consider useful to discuss any aspect of this letter in further detail.
January 25, 2012 Ms Josée Morin Assistant Deputy Minister, droit fiscal et à la fiscalité Ministère des Finances du Québec 12, rue Saint-Louis, étage B QUÉBEC (QC) G1R 5L3 Re: Harmonization of the TVQ
More informationInterested parties are invited to submit comments on the legislative proposals by 15 November 2016.
2016 Issue No. 41 20 September 2016 Tax Alert Canada Finance releases draft income tax technical amendments EY Tax Alerts cover significant tax news, developments and changes in legislation that affect
More informationCanada: Prince Edward Island issues budget
10 April 2018 Global Tax Alert News from Americas Tax Center Canada: Prince Edward Island issues budget 2018-19 EY Global Tax Alert Library The EY Americas Tax Center brings together the experience and
More informationAt last, the omnibus technical bill (C-48) is enacted
2013 Issue No. 28 27 June 2013 Tax Alert Canada At last, the omnibus technical bill (C-48) is enacted Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian
More informationThe proposal documents contained 137 pages of material and potentially represent a change in tax policy towards private companies.
2017 Issue No. 33 31 July 2017 Tax Alert Canada Private company insights: federal tax reform EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses.
More informationTax Alert Canada. Ontario budget
2017 Issue No. 19 27 April 2017 Tax Alert Canada Ontario budget 2017-18 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical
More informationTax Alert Canada. Invoices of accommodation: Important Federal Court of Appeal decision in Salaison Lévesque Inc. Background
2015 Issue No. 3 21 January 2015 Tax Alert Canada EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical summaries to keep
More informationQuébec Budget Summary
March 17, 2016 HIGHLIGHTS Retroactive decrease in the daycare contribution for a second child Changes in the criteria for the SBD Changes to the transfer tax on immovables ( Land transfer tax") Support
More informationThe following is a summary of the measures included in the 8 September 2017 GST/HST legislative proposals.
2017 Issue No. 39 13 September 2017 Tax Alert Canada Finance releases GST/HST draft legislation EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses.
More informationTax Alert Canada. Duty relief, duty drawback, and remission available for Canadian surtaxes on certain US originating goods.
2018 Issue No. 29 19 July 2018 Tax Alert Canada Duty relief, duty drawback, and remission available for Canadian surtaxes on certain US originating goods EY Tax Alerts cover significant tax news, developments
More informationCanada: Ontario issues budget
29 March 2018 Global Tax Alert News from Americas Tax Center Canada: Ontario issues budget 2018-19 EY Global Tax Alert Library The EY Americas Tax Center brings together the experience and perspectives
More informationTax Alert Canada. Alberta s Venture Capital Tax Credit. Overview
2017 Issue No. 2 12 January 2017 Tax Alert Canada Alberta s Venture Capital Tax Credit EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses.
More informationMEASURES AFFECTING INDIVIDUALS
QUÉBEC BUDGET March 27, 2018 Carlos Leitão, the Minister of Finance of Québec, tabled his government s 2018 2019 budget this afternoon. The budget contains many tax measures intended primarily to ease
More informationQUÉBEC FALL 2014 ECONOMIC AND FINANCIAL UPDATE
QUÉBEC FALL 2014 ECONOMIC AND FINANCIAL UPDATE Minister of Finance Carlos Leitão presented his Fall 2014 Economic and Financial Update and states that the government action will help restore sound public
More informationTax Alert Canada. Changes to income tax VDP revised. Overview
2017 Issue No. 53 19 December 2017 Tax Alert Canada Changes to income tax VDP revised EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses.
More informationCanada: Yukon issues budget
28 April 2017 Global Tax Alert News from Americas Tax Center Canada: Yukon issues budget 2017-18 EY Global Tax Alert Library The EY Americas Tax Center brings together the experience and perspectives of
More informationFinance Minister Carlos Leitão tabled the Quebec budget, entitled A budget of hope regained and prudence, on March 28, 2017.
Canadian tax alert 2017-2018 Quebec budget highlights March 28, 2017 Finance Minister Carlos Leitão tabled the 2017-2018 Quebec budget, entitled A budget of hope regained and prudence, on March 28, 2017.
More informationCanada: British Columbia issues budget
23 February 2017 Global Tax Alert News from Americas Tax Center Canada: British Columbia issues budget 2017-18 EY Global Tax Alert Library The EY Americas Tax Center brings together the experience and
More informationCanada: Ontario Ministry of Finance seeks input on proposals to facilitate compliance with the Land Transfer Tax Act
24 July 2017 Indirect Tax Alert News from Americas Tax Center Canada: Ontario Ministry of Finance seeks input on proposals to facilitate compliance with the Land Transfer Tax Act EY Global Tax Alert Library
More informationCanada: Saskatchewan issues budget
11 April 2018 Global Tax Alert News from Americas Tax Center Canada: Saskatchewan issues budget 2018-19 EY Global Tax Alert Library The EY Americas Tax Center brings together the experience and perspectives
More informationTax Alert Canada. US sales and use tax ramifications for Canadian e-commerce vendors following US Supreme Court judgment.
2018 Issue No. 25 9 July 2018 Tax Alert Canada US sales and use tax ramifications for Canadian e-commerce vendors following US Supreme Court judgment EY Tax Alerts cover significant tax news, developments
More informationMeasures concerning businesses
On March 27, 2018, Carlos J. Leitão, Québec Minister of Finance, filed his fifth budget. This budget is balanced and includes investments in infrastructure and public services, particularly in education
More informationCanada: British Columbia issues budget update
13 September 2017 Global Tax Alert News from Americas Tax Center Canada: British Columbia issues budget update 2017 18 EY Global Tax Alert Library The EY Americas Tax Center brings together the experience
More informationCanada s Federal budget impacts Canadian private company sale transactions
4 April 2016 Global Tax Alert News from Americas Tax Center Canada s Federal budget 2016-17 impacts Canadian private company sale transactions EY Global Tax Alert Library The EY Americas Tax Center brings
More informationTax Bulletin. Prudent 2017 Budget, Followed by an Investment-based Economic Plan. Quebec Budget, March 27, 2018
Prudent 2017 Budget, Followed by an Investment-based Economic Plan Tax Bulletin Quebec Budget, March 27, 2018 Quebec s economy is faring better and the Quebec government has decided to open the floodgates.
More informationGlobal Tax Alert. Canada Alberta increases corporate and personal income tax rates. Executive summary. Detailed discussion
22 June 2015 Global Tax Alert News from Americas Tax Center EY Americas Tax Center The EY Americas Tax Center brings together the experience and perspectives of over 10,000 tax professionals across the
More informationQUÉBEC BUDGET SUMMARY
2018-2019 QUÉBEC BUDGET SUMMARY March 27, 2018 TABLE OF CONTENTS Introduction Measures pertaining to individuals Measures pertaining to businesses Measures pertaining to commodity taxes Other measures
More informationCanada: Quebec relaxes QST ITR restrictions
31 October 2017 Indirect Tax Alert News from Americas Tax Center Canada: Quebec relaxes QST ITR restrictions EY Global Tax Alert Library The EY Americas Tax Center brings together the experience and perspectives
More informationTax risk on the rise in Canada and globally
Tax risk on the rise in Canada and globally 2012 13 Canadian tax governance survey 2012 13 Canadian tax governance survey 1 In Ernst & Young s fourth and most recent global Tax risk and controversy survey,
More informationTax Alert Canada. Changes to GST/HST VDP revised
2017 Issue No. 54 19 December 2017 Tax Alert Canada Changes to GST/HST VDP revised EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They
More informationQuebec budget Tax highlights
from Tax Services Issue 2018-14 2018-2019 Quebec budget Tax highlights March 27, 2018 In brief The honourable Carlos Leitão, Quebec Minister of Finance, delivered today, March 27, 2018, the 2018-2019 Budget
More informationTax Alert Canada. FCA finds GAAR does not apply to post-acquisition PUC step-up planning: Univar Holdco Canada ULC v. The Queen, 2017 FCA 207
2017 Issue No. 47 19 October 2017 Tax Alert Canada FCA finds GAAR does not apply to post-acquisition PUC step-up planning: Univar Holdco Canada ULC v. The Queen, 2017 FCA 207 EY Tax Alerts cover significant
More informationTax Alert Canada. TCC dismisses appeal on transfer pricing reassessment of 2003 factoring transactions. Facts
2014 Issue No. 1 7 January 2014 Tax Alert Canada TCC dismisses appeal on transfer pricing reassessment of 2003 factoring transactions EY Tax Alerts cover significant tax news, developments and changes
More informationSUMMARY UPDATE ON QUÉBEC`S ECONOMIC AND FINANCIAL SITUATION. By FBL Taxation
SUMMARY UPDATE ON QUÉBEC`S ECONOMIC AND FINANCIAL SITUATION By FBL Taxation INTRODUCTION Please note that this is not an exhaustive account of all the measures contained in the Update on Québec`s Economic
More informationThe relevant statutory regime
2017 Issue No. 24 05 June 2017 Tax Alert Canada FCA affirms release of trapped limited partnership losses in multi-tiered partnerships EY Tax Alerts cover significant tax news, developments and changes
More informationCanada: Ontario budget
26 February 2016 Global Tax Alert News from Americas Tax Center Canada: Ontario budget 2016 17 EY Global Tax Alert Library The EY Americas Tax Center brings together the experience and perspectives of
More informationCRA announces measures to counter international tax evasion and aggressive tax avoidance
2013 Issue No. 22 13 May 2013 Tax Alert Canada CRA announces measures to counter international tax evasion and aggressive tax avoidance Tax Alerts cover significant tax news, developments and changes in
More informationGlobal Tax Alert. Canada s Department of Finance releases draft financial services tax measures. Executive summary. Detailed discussion
4 September 2014 Global Tax Alert News from Americas Tax Center EY Americas Tax Center The EY Americas Tax Center brings together the experience and perspectives of over 10,000 tax professionals across
More informationCanada: Nunavut issues budget
30 May 2018 Global Tax Alert News from Americas Tax Center Canada: Nunavut issues budget 2018-19 NEW! EY Tax News Update: Global Edition EY s new Tax News Update: Global Edition is a free, personalized
More informationA broad-based charge on fossil fuels, or carbon tax, payable by fuel producers and distributors; and
2018 Issue No. 2 18 January 2018 Tax Alert Canada Canada releases federal carbon tax pricing proposals EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian
More informationCanada: Revenu Québec implements new mandatory certificate for personnel placement agencies and subcontractors
23 June 2016 Global Tax Alert News from Americas Tax Center Canada: Revenu Québec implements new mandatory certificate for personnel placement agencies and subcontractors EY Global Tax Alert Library The
More informationFinance Canada releases revised income splitting measures
20 December 2017 Global Tax Alert News from Americas Tax Center Finance Canada releases revised income splitting measures EY Global Tax Alert Library The EY Americas Tax Center brings together the experience
More informationCanada: Ontario unveils details of retirement pension plan
15 February 2016 Global Tax Alert News from Americas Tax Center Canada: Ontario unveils details of retirement pension plan EY Global Tax Alert Library The EY Americas Tax Center brings together the experience
More informationCanadian Federal Court of Appeal denies Canada Revenue Agency request for tax working papers
4 April 2017 Global Tax Alert News from Americas Tax Center Canadian Federal Court of Appeal denies Canada Revenue Agency request for tax working papers EY Global Tax Alert Library The EY Americas Tax
More informationTax Alert Canada. Highlights from the CRA s 2017 APA Program Report. High number of APAs completed; closing inventory down
2018 Issue No. 28 18 July 2018 Tax Alert Canada Highlights from the CRA s 2017 APA Program Report EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian
More informationEY Wealth Insights Canada
2018 Issue No. 1 January 2018 EY Wealth Insights Canada Preparing for retirement: your RRSP and you After a lifetime of planning, one of the most important financial decisions you will make will be what
More informationQuébec Budget
Québec Budget 2017-2018 On March 28, 2017, Carlos J. Leitao, Québec Minister of Finance, filed his fourth budget titled, "A budget for today and tomorrow: Immediate benefits for all and investment in our
More informationFederal and Provincial/Territorial Tax Rates for Income Earned
by a CCPC Effective January 1, 2015 and 2016 by a CCPC Effective January 1, 2015 1 Federal rates General corporate rate 38.0% 38.0% 38.0% Federal abatement (10.0) (10.0) (10.0) 28.0 28.0 28.0 business
More informationCanada: Federal Court of Appeal reaffirms existence of common interest privilege outside a litigation context
20 March 2018 Global Tax Alert News from Americas Tax Center Canada: Federal Court of Appeal reaffirms existence of common interest privilege outside a litigation context EY Global Tax Alert Library The
More informationAustralian Treasury releases revised Exposure Draft on Investment Manager exemption
23 March 2015 EY Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser: http://www.ey.com/gl/en/ Services/Tax/International- Tax/Tax-alert-library#date Australian
More informationSEPTEMBER 2017 UPDATE
SEPTEMBER 2017 UPDATE On September 11, 2017, Finance Minister Carole James presented a budget update following the May 9 election which resulted in the previous majority Liberal government being replaced
More informationTax Alert Canada. Trade compliance verification list update. Background
2018 Issue No. 30 25 July 2018 Tax Alert Canada Trade compliance verification list update EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses.
More informationTax Alert Canada. Trade compliance verification list update. Background
2017 Issue No. 35 31 August 2017 Tax Alert Canada Trade compliance verification list update EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses.
More informationChoose a building block. Wolters Kluwer Canada. Quebec 2017 Budget Dispatch A BUDGET FOR TODAY AND TOMORROW
Choose a building block. Wolters Kluwer Canada Quebec 2017 Budget Dispatch A BUDGET FOR TODAY AND TOMORROW Wolters Kluwer Canada Date: March 28, 2017 Disclaimer Readers are urged to consult their professional
More informationBULLETIN D INFORMATION
BULLETIN D INFORMATION 2000-4 June 29, 2000 Subject: New fiscal measures to support social and economic activity in Québec This information bulletin describes details of new fiscal measures aiming at supporting
More informationUpdates of Tax measures for Great East Japan Earthquake restoration and the 2011 Tax Reform
December 2011 Japan tax alert Updates of Tax measures for Great East Japan Earthquake restoration and the 2011 Tax Reform (This tax alert is a summary of the Japanese newsletter published on the same topic
More informationQuébec focus on jobs. Shaping an innovative economy. Corporate Taxation Reform. An economic development strategy for job creation
Québec focus on jobs Shaping an innovative economy Corporate Taxation Reform Gouvernement du Québec Ministère des Finances An economic development strategy for job creation FOREWORD The reform of corporate
More informationQUÉBEC BUDGET ANNOUNCEMENT
Finance Minister Carlos Leitão presented the 2014-2015 Quebec Budget on June 4, stating: With Budget 2014-2015, the government is taking the first step on the critical path we must travel to finally restore
More informationEmployee Stock Options
Tax Measures Supplementary Information Employee Stock Options Budget 2010 proposes the following measures associated with the tax treatment of employee stock options. Stock Option Cash Outs If an employee
More information