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2019 REVENU QUEBEC DEADLINE JUNE 1, 2020

FLEXIBILITY MEASURES FOR INDIVIDUALS AND BUSINESSES

Québec City, March 17, 2020 – To simplify the lives of individuals and businesses affected by the exceptional situation stemming from COVID-19, the government has asked Revenu Québec to apply flexibility measures for individuals and businesses in Québec during income tax filing season.

Measures aimed at individuals

  1. The deadline for producing and filing income tax return is postponed to June 1, 2020.
  2. For individuals and individuals in business, the deadline for applying balances due related to income tax returns for the 2019 taxation year is postponed to July 31, 2020.
  3. For those who must pay tax instalments, the payment of the June 15, 2020 tax instalment is suspended until July 31, 2020. The date and terms of payment of this amount will be announced shortly. Individuals will have a reasonable period of time to pay the amount due.

The terms and conditions of the flexibility measures can be consulted in the Information Bulletin published by the Ministère des Finances at www.finances.gouv.qc.ca .

Measures aimed at businesses

In the case of businesses, the payment of tax instalments and taxes due as of today is suspended until July 31, 2020. The date and terms of payment will be announced shortly. Businesses will have a reasonable period of time to pay the amounts due.

Measures aimed at tax return preparers and tax return preparation sessions

Relief measures have also been provided for tax preparers. To limit in-person contact, Revenu Québec will now allow preparers to use an electronic signature on some forms that their clients must sign. The forms in question are form TP-1000.TE-V (for individuals) and form CO-1000.TE (for corporations).

A tailored approach

Revenu Québec will also adapt its own approach by limiting its audit and collection activities. With regard to collection measures, Revenu Québec will be open to extending payment agreements on a case-by-case basis. 

Measures for employees

As an employer, Revenu Québec must ensure the health and safety of its employees while continuing to provide crucial public and government services.

Below are some of the measures we have put in place:

  1. Employees with secure equipment and network access are authorized to work from home as much as possible.
  2. Meetings of over 250 people have been cancelled in favour of conference calls or video conferencing. 
  3. Additional protection measures have been implemented in our client services offices in accordance with government-wide guidelines to maximize virus containment.  
  4. A committee is closely monitoring the situation, with members meeting daily to enact measures and update employees as needed.

For More Information

About Expert Fiscaliste

Save Your Tax
Contact Expert Fiscaliste

Expert Fiscaliste provides Canadian and international income tax preparation and consulting services to individuals, businesses, and trusts.

If you want to take advantage of our services for your 2019 Tax Return. Give us a call at 514-954-9031, or visit our Contact Tax Experts page.

2019 individual Tax Returns

Tax Preparation
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It’s that time of the year again to prepare your 2019 Individual Tax Return.  Let us Prepare your 2019 Tax Return for you, it’s a simple three step process.  To assist you in identifying the information that will be required to properly prepare your tax return see our 2019 Individual Tax Return Checklist. 

Tax Preparation
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We will make sure that you get the maximum refund possible and we will provide you with year-round tax support as your Authorized Representative.  For more information on Individual Tax Returns or  what is new for Individuals or to see our tax calendar for important dates and deadlines.

We are constantly looking at ways to make it easier for you to share securely information.  With this objective we now have a new portal, request an invitation to register.

About Expert Fiscaliste

Save Your Tax
Contact Expert Fiscaliste

Expert Fiscaliste provides Canadian and international income tax preparation and consulting services to individuals, businesses, and trusts.

If you want to take advantage of our services for your 2019 Tax Return. Give us a call at 514-954-9031, or visit our Contact Tax Experts page.

2019 RL-31 SLIP

TAX OBLIGATIONS

Are you a landlord of an eligible dwelling for which rent was paid or payable on December 31, 2019. You must file an RL-31 slip and give a copy to your tenants.

The RL-31 slip is used to report information about leased dwellings on December 31, 2019.

RL-31 slips must be filed and distributed no later than February 28, 2020.

Filing

You can file RL-31 slips for the 2019 taxation year using the service for preparing and viewing the RL-31 slip (available for the 2019 taxation year as of December 1).

If you filed RL-31 electronically for 2018, you can use the same information to file the slips for 2019.

You can also file your RL-31 slips:

  1. using authorized software you purchased;
  2. using software you developed (provided it meets our requirements); or
  3. on paper (if you have to file on paper, contact us).

For more information about filing the RL-31 slip, click Filing RL Slips and Summaries. You can also refer to the Guide to Filing the RL-31 Slip: Information About a Leased Dwelling (RL-31.G-V) or the RL-31 Slip Helpsheet (RL-31.G.A-V).

COMPONENTS OF THE SOLIDARITY TAX CREDIT

The solidarity tax credit has three components:

  1. the housing component
  2. the QST component
  3. the component for individuals living in northern villages

You may be entitled to the credit even if you are not eligible for all three components. For example, you can claim the credit even if you lived in a dwelling that is not eligible, such as a dwelling in low-rental housing (HLM), on December 31, 2019. In such a case, they will take into account only the QST component and, if applicable, the component for individuals living in a northern village.

About Expert Fiscaliste

Quebec RL-31

Expert Fiscaliste provides income tax preparation and consulting services to individuals, businesses, with real estate residential operations in Quebec.

If you want to take advantage of our services for your Tax Returns Give us a call at 514-954-9031, or visit our Contact Tax Experts page.

2019 Seasonal Associates

Ready for a new Seasonal Associate opportunity with Expert Fiscaliste?

2019 Seasonal Associates
Call Expert Fiscaliste at 514-954-9031 for a Career

If you have experience as a tax preparer, are highly motivated and love communicating directly with clients, you could be a perfect match for this 2019 Seasonal Associate opportunity. As an Expert Fiscaliste seasonal associate you will prepare tax returns for Expert Fiscaliste customers.

Responsibilities

  1. Proactively seek out and find new clients
  2. Answer Expert Fiscaliste customer phone calls and delivering a professional, personalized client service experience every time
  3. Demonstrate empathy toward clients, empowering and partnering with them to help them complete their taxes
  4. Successfully troubleshoot, resolve issues and answer complex tax questions using our defined practices, procedures and company policies
  5. Document customer interactions
  6. Remotely prepare tax returns and assist clients filing tax returns

Qualifications

  1. Extensive experience preparing a variety of federal and provincial returns for individuals, including student, pension, self-employed, rental property, investments and foreign income.
  2. Must have prepared a minimum of 25 personal tax return prepared per year over the last three years
  3. In depth knowledge of CCH products
  4. In depth knowledge of tax laws and tax concepts, solid critical thinking and problem solving skills
  5. Excellent verbal communications in English and French
  6. Excellent written communication skills including spelling and proper use of grammar
  7. Strong understanding of computers and software

Discover what it’s like to be a part of an amazing team of tax advisors, making a daily difference in the lives of Expert Fiscaliste clients all across Canada.

About Expert Fiscaliste

Expert Fiscaliste provides Canadian and international income tax preparation and consulting services to individuals, businesses, and trusts.

2019 Seasonal Associates
Call Expert Fiscaliste at 514-954-9031

If you want to take advantage of our services for your 2018 Tax Return Give us a call at 514-954-9031, or visit our Contact Tax Experts page.

2019 CRA Tax Review Letter

Canada Revenue Agency (CRA) Review Letter

CRA may send you a Tax Review Letter you about your recently filed tax return.  This is called a CRA Tax Review Letter it is not the same as a tax audit they generally provide you with 30 days to comply.  Failure to not meet this deadline may lead to an reassessment or tax audit or if the CRA is not satisfied with your response to the review.

3 types of Tax Review Letters

  1. Pre-assessment review –After you submit your tax return, the CRA may review the deductions and credits you claimed. The CRA conducts these reviews before it sends you a notice of assessment and possibly a refund. These reviews usually take place between February and July.
  2. Processing review program – This is similar to the pre-assessment review, except for timing. The CRA conducts these reviews after it sends you a notice of assessment, usually between June and November.
  3. Matching program – These reviews take place after the CRA sends you a notice of assessment, usually between September and March. The CRA compares information on your tax return with information provided by third parties like your employer, banks or investment firms.

Authorized Representatives for Tax Review Letters

2019-cra-tax-review-letter
Call Expert Fiscaliste at 514-954-9031

Canada Revenue Agency (CRA) may send you a Tax Review Letter about your recently filed tax return. Contact Expert Fiscaliste at 514-954-9031 ask them to become your authorized representative to give you a peace of mind knowing that you have a experienced tax professional in your corner.

Tax Review Letters take place at different times during the year.  If you move, it is very important to notify your change in address as soon as possible.  If you plan to be away for some time, or if you prefer you have your authorized representative to act on your behalf call us at 514-954-9031.

2019 Instalment Payments

Do You Need To Pay 2019 Instalment Payments?

If your net tax owing when you filed your last income tax return exceeded $3,000, or If you live in Quebec on December 31 of a year, use a limit of $1,800 of net tax owing. You may be obliged to make quarterly 2019 Instalment Payments toward your next tax bill.

The majority of Canadians don’t have to make quarterly tax instalment payments toward their income taxes because their employers deduct sufficient tax at source throughout the year to cover their tax bill.

But those who have sources of taxable income outside of regular employment — which can include freelance income, income from investments, or withdrawals from RRIFs — often have insufficient (or no) tax withheld though the year, and as a result owe tax when they file their returns. If the tax  they owe at the end of the year exceeds $3,000, for CRA, or Quebec $1,800 can request tax instalment payments throughout the year.

How much to pay for 2019 Instalment Payments :

To avoid interest charges, you must pay tax instalments totalling the lesser of a) your tax owing for the year, or b) what CRA requested of you (they usually send you a letter requesting the instalments).

The requested tax instalment payment is always equal to 1/4 of the tax owing at the end of the previous year. So for example if your last income tax bill came to $3,600, the Canada Revenue Agency will request four tax instalment payments of $900 each.

When to pay 2019 Instalment Payments :

Tax instalments are due four times per year: March 15, June 15, September 15, and December 15.

However, there is an exception to the 1/4 of the bill 4x per year rule.  The first year you’re requested to pay, you won’t be notified until late in the summer. At that point there are only two deadlines left in the year, and CRA may apportion what would have been your four tax instalments over the two remaining deadlines. Meaning, on September 15 and December 15 of that first year, you’d be paying two equal tax instalments totalling whatever you owed the previous year.

What is an instalment reminder?

An instalment reminder is sent to help you determine if you have to pay income tax by instalments. The reminder will suggest an amount to pay and list the calculation options.

CRA and MRQ will send instalment reminders to people who may have to pay tax by instalments:

  1. The February reminder is for the March and June payments
  2. The August reminder is for the September and December payments

If Instalment reminder only received in August 2019

If you only received an instalment reminder in August and the reminder does not mention a March or June 2019 instalment payment, follow the instructions that apply to you:

No-calculation option – Pay the amount shown in box 2 of your reminder for September 15 and December 15.

Prior-year option – Calculate your 2018 net tax owing and add any CPP contributions payable, and any voluntary EI premiums payable. Pay 75% of the total on September 15 and 25% on December 15.

Current-year option – Estimate your current-year 2019 net tax owing and add any CPP contributions payable, and any voluntary EI premiums payable. Pay 75% of the total on September 15 and 25% on December 15.

What happens if I don’t pay?

Generally, if you owe tax at the end of the year you’ll pay interest on the unpaid tax instalment(s) dating back to the due date of the missed payment(s). CRA’s interest rate is generally around 5% p.a..

What if the requested tax instalments total more than I owe?

If your tax instalments through the year total more than your final tax bill, you’ll either get the excess refunded to you, or it will be credited toward next year’s instalments.

For example, let’s say CRA is asking for tax instalments because you owed $3,600 in tax last year. But you suspect you’re only going to owe $2,000 this year, so you take that amount and pay four tax instalments of $500 each. If you’re right and you don’t owe tax at the end of the year, there’s no interest charge for paying less than the requested tax instalments.

What if the requested tax instalments total less than I owe?

CRA or Quebec won’t charge you interest for whatever additional tax you owe, so long as you paid the requested amounts. In other words, it’s not your responsibility to predict that the tax instalments weren’t high enough. You’re only responsible for paying the lesser of a) what you owe, or b) what CRA or Quebec requested of you.

About Expert Fiscaliste

Expert Fiscaliste provides Canadian and international income tax preparation and consulting services to individuals, businesses, and trusts.

Save Your Tax
Call Expert Fiscaliste at 514-954-9031

If you want to take advantage of our services for your 2018 Tax Return or if 2019 July Individual Tax Updates are of interest . Give us a call at 514-954-9031, or visit our Contact Tax Experts page.

2019 July Individual Tax Updates

OAS July update payment rates for third quarter of 2019

The federal government has announced the Old Age Security (OAS) and related amounts which will be paid during the third quarter (July 1 to September 30) of 2019. OAS payments are indexed quarterly to changes in the Consumer Price Index.

During the third quarter, the maximum OAS payable will be $607.46 per month. More information on OAS rates, as well as amounts payable during the quarter with respect to the Guaranteed Income Supplement (GIS) and the Allowance for the Survivor can be found on the federal government website at https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security/payments.html.

Prescribed interest rate for leasing for July

The Canada Revenue Agency (CRA) has announced the prescribed interest rate for leasing rules which will be in effect during the month of July 2019.

The prescribed rate for July is 2.75%.

A chart showing all prescribed interest rates for leasing since 2010 can be found on the CRA website at https://www.canada.ca/en/revenue-agency/services/tax/individuals/frequently-asked-questions-individuals/prescribed-interest-rates-leasing-rules.html.

Inflation rate for May at 2.4%

The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of May 2019, as measured on a year-over-year basis, stood at 2.4%.

Inflation during May was broad-based, with prices rising in all eight of the major index components. The greatest increases were seen in the cost of food and transportation, which rose by 3.5% and 3.1%, respectively.

Details of the inflation picture for the month, by index component and province, are outlined in the June release of the Consumer Price Index, available on the StatsCan website at https://www150.statcan.gc.ca/n1/daily-quotidien/190619/dq190619a-eng.htm?HPA=1&indid=3665-1&indgeo=0.

Increases to GST/HST credit and Canada Child Benefit payment rates

July 1, 2019 is the start of the 2019-20 benefit year for many provincial and federal child and tax benefits, including the federal GST/HST credit and the Canada Child Benefit.

As of that date, the payment rates for each of those benefits, along with the threshold income levels for benefit eligibility, is increased.

Information guides which were recently issued by the Canada Revenue Agency on the Canada Child Benefit and the GST/HST credit for the upcoming benefit year can be found at https://www.canada.ca/content/dam/cra-arc/formspubs/pub/rc4210/rc4210-19e.pdf and https://www.canada.ca/content/dam/cra-arc/formspubs/pub/t4114/t4114-19e.pdf.

About Expert Fiscaliste

Expert Fiscaliste provides Canadian and international income tax preparation and consulting services to individuals, businesses, and trusts.

Save Your Tax
Call Expert Fiscaliste at 514-954-9031

If you want to take advantage of our services for your 2018 Tax Return or if 2019 July Individual Tax Updates are of interest . Give us a call at 514-954-9031, or visit our Contact Tax Experts page.

2018 tax return Federal benefits

2018 tax return Federal benefits and many of the provinces provide benefit programs for which both entitlement and benefit amount are based, at least in part, on the income of the recipient taxpayer. Those benefits include the GST/HST tax credit and the Canada child benefit.

The upcoming benefit year for such benefits runs from July 1, 2019 to June 30, 2020, and benefit entitlement for that year is based on taxpayer income for the 2018 tax year. Such information is obtained by the Canada Revenue Agency (CRA) from tax returns filed for 2018.

Taxpayers who have not yet filed a return for 2018 will need to do so soon in order to receive benefits beginning July 1, 2019. Without the information provided in an individual’s tax return, the CRA is unable to determine a taxpayer’s benefit eligibility.

More information on the affected benefit programs can be found on the CRA website at https://www.canada.ca/en/revenue-agency/services/child-family-benefits.html.

About Expert Fiscaliste

Expert Fiscaliste provides Canadian and international income tax preparation and consulting services to individuals, businesses, and trusts.

Save Your Tax
Call Expert Fiscaliste at 514-954-9031

If you want to take advantage of our services for your 2018 Tax Return. Give us a call at 514-954-9031, or visit our Contact Tax Experts page.

Prescribed interest rates for the first half of 2019 -April 5, 2019

The Canada Revenue Agency has announced the interest rates which will apply to amounts owed to and by the Agency for the first half of 2019, as well as the rates that will apply for the purpose of calculating employee and shareholder taxable benefits.

Debit rate            Credit rate       Shareholder Benefits

January 1 – March 31             6%                   2% / 4%                    2%

April 1 – June 30                    6%                   2% / 4%                    2%

The credit rate of interest to be paid on overpayments of tax differs for individual and corporate taxpayers. The lower of the two credit rates shown is paid on corporate tax overpayments.

A listing of these and other interest rates for the first half of 2019 can be found on the Canada Revenue Agency website at https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2019/interest-rates-for-the-second-calendar-quarter.html.

About Expert Fiscaliste

Save Your Tax
Call Expert Fiscaliste at 514-954-9031

Expert Fiscaliste provides Canadian and international income tax preparation and consulting services to individuals, businesses, and trusts.

If you want to take advantage of our services for your 2018 Tax Return. Give us a call at 514-954-9031, or visit our Contact Tax Experts page.

2019 Payment Options

Expert Fiscaliste invoices can be paid via the following (4) method(s):

Interac e-Transfer

Interac e-Transfer is a convenient way to send, request and receive money directly from one bank account to another. All you need is access to online or mobile banking through a participating financial institution, and you can send or request money to anyone with an email address or mobile phone number and a bank account in Canada — without sharing any personal financial information*

Interac Email Money Transfers: send payment to: will@expert-fiscaliste.ca

Additional information: https://www.interac.ca/en/interac-e-transfer-consumer.html

Credit Cards – Visa, MasterCard, American Express


A credit card is a payment card issued to users to enable the cardholder to pay a merchant for goods and services based on the cardholder’s promise to the card issuer to pay them for the amounts plus the other agreed charges.

Virtual payments- I will need the following information:
Name on Card xxxxxxx xxxxxxx Card Number xxxx xxxx xxxx xxx CVV/CVV2 xxx Expiration date MM/YY Postal Code A1A 1A1

Expert Fiscaliste Digital Confirmation will be sent email or mobile phone.

PayPal Transfers

It’s simple and free to create a PayPal account. Link a bank account, credit or debit card, and you’re ready to transfer money.

Account required to send and receive money.


Send PayPal money to: will@expert-fiscaliste.net

Additional information: https://www.paypal.com/ca/webapps/mpp/send-money-online

Checks

Canadian Dollar checks payable to Expert Fiscaliste all other checks payable to William Oliver

Mail Cheque to:
Expert Fiscaliste
1000 de La Gauchetière Ouest
24e étage,
Montréal QC H3B 4W5

About Expert Fiscaliste

Save Your Tax
Call Expert Fiscaliste at 514-954-9031

Expert Fiscaliste provides Canadian and international income tax preparation and consulting services to individuals, businesses, and trusts.

If you want to take advantage of our services for your 2018 Tax Return. Give us a call at 514-954-9031, or visit our Contact Tax Experts page.

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