Taxation of cooperatives and their members
Co-operatives play an important role in the Quebec economy. They are present in many sectors of activity, but differ from other forms of enterprise in a number of ways, particularly from a tax point of view.
DID YOU KNOW THAT...
The cooperative investment plan (CIP) allows a provincial deduction of 125% of the cost of the security acquired?
Dividends are deductible in calculating a cooperative's income, but that the deduction allowed may be restricted in certain cases?
Is it possible to defer the taxation of an eligible patronage dividend received by a member in the form of preferred shares until the shares are disposed of?
Shares held by members of a cooperative corporation are eligible for RRSPs when certain conditions are met?
A share issued under the CIP and held by an RRSP allows the member to benefit from the CIP deduction and the RRSP deduction?
Our multidisciplinary team can help you better understand the specific tax issues in your sector. They can also guide you through all aspects of a cooperative, enabling you to make the best tax decisions for the benefit of both members and the cooperative.
Contact us today!
DOLBEAU-MISTASSINI
Vincent Duguay, CPA auditor | [email protected]
LA POCATIÈRE
Jessy St-Onge Lemieux, CPA auditor | [email protected]
LÉVIS
Alain Fortier, FCPA auditor | [email protected]
Nadia Rhéaume, CPA auditor | [email protected]
MONTMAGNY
Patricia Deschênes | [email protected]
SAINT-HYACINTHE
Audrey Leblanc, CPA auditor | [email protected]
Claire Picard, CPA auditor | [email protected]