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Quebec Budget: The CPA Order recommends simplifying taxation for seniors and making tax measures more relevant and consistent

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Montreal, March 19, 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 simplifying taxation for seniors and making tax measures more relevant and consistent.

For several years now, the Order has been concerned about the administrative burden on taxpayers, especially the cumbersome nature of the tax system for seniors. No fewer than 15 tax measures are affected by changes in income of this particularly vulnerable group, which accounts for a growing share of the population. And yet, nothing suggests that the measures have been harmonized or that the objectives are always met. The CPA Order therefore believes that priority should be given to a major reform to simplify the tax system for seniors.

Over the years, numerous tax measures have been implemented to support certain economic sectors or activities, promote changes in behaviours and assist individuals in specific situations. However, there is no systematic assessment of the effectiveness and relevance of these measures. Such piecemeal measures are not only expensive for taxpayers, but they also make the tax system ever more complex. To correct this situation, the government should expand the scope of its review of tax expenditures, with a view to assessing their objectives and relevance and measuring their effectiveness and efficiency.

The CPA Order’s other proposals:
  • Charge QST on online sales
  • Introduce a single tax return for individuals and corporations
  • 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
“The objectives may be well intentioned. However, the fact remains that implementing measures piecemeal complicates the tax system and weakens its consistency,” says Geneviève Mottard, CPA, CA, President and Chief Executive Officer of the Order. “The government therefore needs to periodically and thoroughly assess all the measures in force to continually ensure that the tax system is optimal and working as intended.”


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.

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See the brief submitted 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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