Quebec Budget: The CPA Order recommends adopting a management policy for the Stabilization Reserve Fund and the Generations Fund

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Montreal, March 12, 2018 – With the tabling of the 2018-2019 Quebec Budget just around the corner, the Quebec CPA Order has put forward nine proposals to ensure responsible and sustainable management of public finances, foster government transparency, reduce taxpayers’ administrative burden and promote tax fairness and consistency.

Its proposals include adopting a responsible and sustainable management policy for the Stabilization Reserve Fund and the Generations Fund. 

The CPA Order recommends holding open and transparent discussions to formally define the level that would best protect the Stabilization Reserve Fund against contingencies, as well as the conditions for its use.

The Order also recommends developing and implementing a Generations Fund disbursement policy for purposes of paying down the debt to help shield amounts held in the fund from the ups and downs of the financial markets.

Other proposals of the CPA Order:
  • Charge QST on online sales
  • Introduce a single tax return for individuals and corporations
  • Simplify taxation for seniors
  • Increase the relevance and consistency of tax measures
  • Harmonize pension plan disbursement rules
  • Create a parliamentary budget officer position
  • Provide easier access to the financial statements of public and parapublic agencies

“The Stabilization Reserve Fund and the Generations Fund are in a sense our collective nest eggs and should be managed with vision and care. Now that the economy is back on track and the government has some new fiscal flexibility, it’s a good time to examine the management parameters of these funds,” says Geneviève Mottard, CPA, CA, President and Chief Executive Officer of the Order.

About the Quebec CPA Order
The Ordre des comptables professionnels agréés du Québec has 39,000 members and 5,000 future CPAs, making it the third-largest professional order in Quebec. The Order ensures the protection of the public and the visibility of the profession. It represents all areas of expertise of the accounting profession: assurance, financial accounting, management and management accounting, finance and taxation.

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Read the brief prepared by the Order (in French only) >


Information:

Jean-Louis Laplante
Manager, Public Affairs 
Quebec CPA Order
T. 514 288.3256 [3024]  1 800 363.4688
jllaplante@cpaquebec.ca

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