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Quebec Budget: The CPA Order proposes a single tax return for individuals and corporations

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Montreal, March 23, 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.

The Order’s proposals include introducing a single tax return for individuals and corporations.

Unlike their fellow citizens in other provinces, Quebec taxpayers are required to file two tax returns every year. Elsewhere in Canada, individuals complete a single tax form that includes both the federal and provincial tax provisions. As for corporations, Alberta is the sole province aside from Quebec that requires two separate tax returns.

Introducing a single tax return for both individuals and corporations would bring many advantages without compromising Quebec’s fiscal autonomy — a right that must be preserved. Among other things, a single tax return would make it possible to:
  • generate efficiency gains estimated at $500 million annually, because only one revenue agency would process the federal and provincial components of the returns;
  • simplify procedures and reduce paperwork for corporations and individuals alike;
  • create a single point of contact for all questions about tax returns and income taxes.
The CPA Order’s other proposals:

  • Charge QST on online sales
  • Simplify taxation for seniors
  • Increase the relevance and consistency of tax measures
  • Adopt a management policy for the Stabilization Reserve Fund and the Generations Fund
  • Harmonize pension plan disbursement rules
  • Create a parliamentary budget officer position
  • Provide easier access to the financial statements of public and parapublic agencies
“Every year, tax return processing requires a great deal of human and financial resources, some of which could be redirected to more productive activities. Quebec must opt for a single tax return, for both individuals and corporations, while keeping its full fiscal autonomy intact. It’s a matter of efficiency,” said 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, including assurance, financial accounting, management and management accounting, finance and taxation.

See the brief submitted by the Order (in French only) >

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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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