Video Killed the Radio Star. Will Unions or Corporate Greed Kill the Twinkie…

Hostess Twinkies. Yellow snack cake with cream filling. (Photo credit: Wikipedia)

The first part of my title is correct.  The video killed the radio star, but the second part of my title is still playing out, although all rhetoric seems to indicate that the end of the Twinkie – and Hostess Foods, is near. 

It’s an interesting scenario playing out and after reading this, you tell me which side you think is at fault and if you were the other side would you blame them?

Start with these ingredients;

Enriched wheat flour, sugar, corn syrup, niacin, water, high fructose corn syrup, vegetable and/or animal shortening -  – containing one or more of partially hydrogenated soybean, cottonseed, canola oil and beef fat, dextrose, whole eggs, modified corn starch, cellulose gum, whey, leavenings (sodium acid pyrophosphate, baking soda, monocalcium phosphate), salt, con starch, corn flour, corn syrup, solids, mono and diglycerides, soy lecithin, polysorbate 60, dexterin, calcium, calcium caseinate, sodium stearoyl lactlate, wheat gluten, calcium sulphate, natural and artificial flavors, caramel color, yellow #5, red #40.

Put that all together and you get a Twinkie, which was invented in 1930 by a baker at the Continental Baking Company when they realized that several machines used to make cream-filled strawberry shortcake sat idle when strawberries were out of season.  So the bakers created a snack cake filled with banana cream, and called it a Twinkie.  During World War II when bananas became rationed, the company switched to a vanilla cream filling.  In 2007, banana-cream Twinkies were  permanently restored (although I have never had one).  

On January 11th, 2012, Twinkie manufacturer Hostess filed for Chapter 11 bankruptcy protection.  Hostess – maker of Twinkies, Ho Ho‘s, Wonder Bread, etc., blamed in on their customers deciding to consume healthier foods.  On the brink of closing down, Hostess hired a new CEO who accepted a wage of $1.00 to see them through bankruptcy protection, which may all be for not as workers at Hostess Brands have threatened to strike if the company imposes “unfair” contract terms, including wage cuts.

The workers are members of the Teamsters Union which represents about 7,500 of the company’s 19,000 employees, said that more than 90 percent of its Hostess members voted to authorize a strike if “unfair contract terms” are approved as part of its bankruptcy proceedings.

Now bankruptcy is nothing new for Hostess which - founded in 1930 – previously filed for bankruptcy in 2004 and re-emerged in 2009. The company has about $860 million in debt.

Here is the hold up; The company’s new CEO, Gregory F. Rayburn – who dispels the myth that their industry is bound to fail as consumers reach for healthier and healthier foods, citing booming markets in chocolate - said Hostess wants to cut annual pension contributions from $103 million to $25 million. Hostess also wants to change work rules that sometimes require two trucks instead of one, and they want to outsource deliveries to small stores.

The union has announced they will reject the offer, make a new proposal, and are willing to strike which could spell the end of Hostess and would ultimately see the 7,500 unionized workers put the other 12,500 workers out of jobs too by their actions.  

Apparently employees already accepted big concessions back in 2008 and back in February then union voted to authorize a strike, and the union vowed Saturday that workers would walk off the job if the bankruptcy judge agrees to the company’s cuts.

Hostess countered by saying if workers strike, they will be forced to shut down the company and liquidate assets.

Amazing, eh?

I read through several articles but could not figure out why the union was digging in their heels and taking such a harsh stance which would ultimately shut down the company and force both unionized and non-unionized workers out of jobs.  I worked in a unionized environment for almost 11 years and say what you will about unions, they are looking out for the best for the employees…

The I found this missing tidbit of information: 

Before the company filed for bankruptcy protection, eight top executives got pay raises last year of up to 80%.

In April, some of the executives sided with the CEO and agreed to accept $1 a year in income until the company comes out of bankruptcy or December 31st, presumably with all these reduced pension costs, whichever comes first.  some of the other executives wisely gave up their pay raises altogether.

Boy, the optics here look bad.  Why votes yourselves a raise if the company is heading into bankruptcy?  That looks bad to the employees, it looks bad to the creditors who are getting $0.10 on the dollar and it looks bad publicly.  Then again, the unions need to understand by striking they are not looking out for the 7,500 employees they represent but their actions are impacting 15,000 employees and because there are non-unionized workers does that mean no one looks out for them too?

This is an ugly battle and the outcome will be playing out in the media over time.

Stay tuned.

(P.S. It’s an urban legend that Twinkies have a shelf life of 25 years.  According to experts a Twinkie has a shelf life of 7-10 days.)

Who knew?

Related articles

• Teamsters strike may kill off Twinkies. Let the hoarding commence. (eatocracy.cnn.com)

Some basics of Canadian Investing; Mutual Funds, Eligible Dividends and Deferred Tax

Here is a brief introduction to the absolute basics of investing Canada. If you know this, you really just know the basics.  If you do not know much about Mutual funds, Eligible dividends, income trusts, and deferring taxes owing then trust me, this is the tip of the iceberg.  The Investment Fund Institute of Canada (IFIC) has a mutual fund course as probably does the Canadian Securities Institute (CSI).  Both are sought after for entry into the financial sector.

At the very basic, here are the 2 main types of tax-sheltered investments you probably have heard about - RRSP or RRIF.  In both cases, you put money away into these investments which are NOT taxed at year-end.  you pay taxes when you withdraw or remove the funds after certain milestones, such as age 65. 

Investments that generate capital gains or Canadian source dividends are taxed more favourable than interest income because interest income earned from investments such as T-Bills, bonds, and GIC’s are generally taxed at the highest marginal tax rate.
• Dividends earned from a Canadian Corporation are taxed at a lower rate than interest income.  This is because dividends are eligible for a dividend tax credit, which recognizes that the corporation has already paid tax on the income that is being distributed to shareholders.
o This only applies to dividends from a Canadian corporation.
o Dividends paid from a foreign corporation are not eligible for the dividend tax credit.

As of 2006 there are now two types of dividends, eligible and non-eligible dividends, and they are treated differently from a tax perspective.
• Eligible dividends include those received from a public Canadian corporation and certain private, resident corporations that must pay Canadian tax at the general corporation rate. As a result, they have a federal tax credit of 18.97% and are grossed up by 145%.
• Non-eligible dividends include those received from Canadian-controlled private corporations not subject to the general corporate tax rate.  They have federal tax credit of 13.33% and are grossed up by 125%.

This change was introduced by the government of Canada in order to present a more balanced tax treatment between corporations and income trusts as Canadians were investing more and more in income trusts and less and less in corporations and why wouldn’t they, since prior to 2006 income trusts were not taxed on any income allocated to unit holders, whereas dividends paid by a Canadian corporation are paid out of after tax earnings. 

To combat this, many corporations began to restructure their operations to become income trusts.  Something had to be done.

In a typical income trust structure, the income paid to an income trust by the operating entity may take the form of interest, royalty or lease payments, which are normally deductible in computing the operating entity’s income for tax purposes.  These deductions reduce the operating entity’s tax to nil.   

The trust ”flows” all of its income received from the operating entity out to unitholders.  The distributions paid or payable to unitholders reduces a trust’s taxable income, so the net result is that a trust would also pay little to no income tax, which is never a good thing in the government’s eyes.

So who then gets hit with the tax bill??  The net effect is that the interest, royalty or lease payments are taxed at the unitholder level;
1. A flow-through entity whose income is redirected to unitholders, the trust structure avoids any possible double taxation that comes from combining corporate (T2) income taxation with shareholders’ dividend taxation
2. Where there is no double taxation, there can be the advantage of deferring the payment of tax.  When the distributions are received by a non-taxed entity, like a pension fund, all the tax due on corporate earnings is deferred until the eventual receipt of pension income by participants of the pension fund.
3. Where the distributions are received by foreigners, the tax applied to the distributions may be at a lower rate determined by tax treaties, that had not considered the forfeiture of tax at the corporate level.
4. The effective tax an income trust owner could pay on earnings could actually be increased because trusts typically distribute all of their cashflow as distributions, rather than employing leverage and other tax management techniques to reduce effective corporate tax rates.  It’s easier to distribute all the funds out and show nothing being retained that it is to implement strategies to reduce corporate tax owing which is the path most often taken. 

Where can a holder find their dividends reports?  Dividends are usually shown on the following CRA slips:
• T5, Statement of Investment Income
• T4PS, Statement of Employees Profit Sharing Plan Allocations and Payments
• T3, Statement of Trust Income Allocations and Designations
• T5013, Statement of Partnership Income
• T5013A, Statement of Partnership Income for Tax Shelters and Renounced Resource Expenses

When completing a Canadian tax return, where should a holder enter their dividend information?

Enter on Line 180 the taxable amount of dividends (other than eligible dividends) as follows:
• box 11 on T5 slips
• box 25 on T4PS slips
• box 32 on T3 slips
• box 51-1 on your T5013 or T5013A slips.

Enter on Line 120 the taxable amount of all dividends from taxable Canadian corporations, as follows:
• boxes 11 and 25 on T5 slips
• boxes 25 and 31 on T4PS slips
• boxes 32 and 50 on T3 slips
• boxes 51-1 and 52-1 on your T5013 or T5013A slips.

What do I do if I did not receive an information slips?

Ignore it and the CRA will let me off the hook?  No chance.  If you did not receive an information slip, you must calculate the taxable amount of other than eligible dividends by multiplying the actual amount of dividends (other than eligible) you received by 125% and reporting the result on line 180.  You must also calculate the taxable amount of eligible dividends by multiplying the actual amount of eligible dividends you received by 141%. Report the combined total of eligible and other than eligible dividends on line 120.

So what exactly is a capital gain?

Capital gains occur when you sell an asset for more than you paid for it. This gain is offset by any losses and can be further reduced by any expenses that are incurred by the purchase or sale of the asset – resulting in net capital gain.
Taxation of capital gains: 50% of a net gain is taxable at the appropriate federal and provincial rates.

My accountant advised me I need more “Tax deferral”.  What does she mean?   She means contributing the maximum amount to your RRSP which provides an immediate tax deduction and tax sheltered growth as long as the investment(s) remain in the plan.

Other less commonly used strategies include:
• Universal Life Insurance is a policy that combines life insurance coverage with a tax deferred investment component. Premiums paid are first used to ensure life coverage and the balance accumulates in an investment account where it grows tax deferred.
• Registered Educations Savings Plan (RESP) is a plan where contributions are used to fund a child or grandchild’s post secondary education costs.
o initial contributions are not tax-deductible
o any income earned within the plan is only taxable in the hands of the student at the time of withdrawal.

More is coming in the next few days, weeks and months…

Related articles

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1042 vs. 1042S.

IRS Tax form time:

Ever wonder what the difference is between the 1042 and the 1042-S?

Form 1042 is the annual withholding tax return for US source income of foreign persons (it’s for non-residents of the US).

Form 1042-S is a tax form for foreign individuals which reports income from a United States-based source.  In other words, non-residents who conduct some form of business within the United States.  There are 5 copies of the 1042-S, 1 for the IRS, one for the withholding agent and 3 for the recipient.

This can include investments or capital distribution.

The form is sent to the non-residents by the bank or corporation that handles the transaction.

Form 1042-S makes it easy for non-resident individuals to keep track of the income that was generated within the United States as well as how much money was withheld for tax purposes, that would cover for any potential income tax liabilities.

Foreign workers and students who are considered non-resident aliens and are working in the United States are subject to tax withholding.  So they would receive the 1042-S, as an annual information return, to outline any monetary amounts given to them by a US based institution or business (employer or school).

The IRS says that any withholding agent (such as an employer, business, or university) that paid any amount subject to withholding (as described on Form 1042-S on page 4) to a non-resident alien would need to submit a 1042-S information return for every payment recipient.

Some of the payments which are required to be reported on Form 1042-S include but are not limited to: corporate distributions, interest, rents, royalties, compensation for dependent and independent services, pensions and other deferred income, and most gambling winnings.

Some payments are not subject to withholding such as scholarships used for tuition, expense, books, and fees for universities. Also, any service payment that was performed in the person’s country of origin is not subject to withholding. However, these payments are still required to be reported on a 1042-S form. There are more circumstances that are detailed on page 4 of Form 1042-S.

For non-resident alien employees, the form’s purpose is somewhat similar to the W-2 form that employees who are American citizens receive from their employers.

The withholding agent files the 1042-S form with the IRS and sends a copy to the payee for information purposes. However, employment earnings are not the only transaction that the form covers.

Non-resident aliens have different laws that regulate tax withholdings than resident aliens. It is important that employers, businesses, universities, and anyone who pays foreign nationals any type of payment to know the resident status of their payees, for example, for tax purposes, resident aliens are treated the same as US citizens.  You get to be a “resident alien” if you meet the “green card test” or the “substantial presence test” for the calendar year.  If they do not meet either one of those tests, they are considered just to be an alien.

A 1042-S is not required  if any of the amounts paid are to residents of a US possession or territory as long as the payee is a US citizen, resident alien, or US national.

Tax treaties exist between many countries and the US which override the withholding rate to be withheld off a distribution to a non-resident of the US. 

Regardless of whether or not taxes are withheld from the transaction amount, any withholding agent that pays an amount of money to a non-resident alien in the US is still required to provide and file a 1042-S.

Form 1042; http://www.irs.gov/pub/irs-pdf/f1042.pdf

Form 1042-S; http://www.irs.gov/pub/irs-pdf/f1042s.pdf

If you are required to file Form 1042-S, then you must file form 1042, annual withholding tax return for US sourced income of foreign persons.

http://www.irs.gov/pub/irs-pdf/i1042s.pdf

 

 

The two certainties in life… Death and Taxes.

This post is a brief look at estate filing rewuirements with the Canada Revenue Agency (CRA) and the role and requirements of an executor in Canada.

In Canada, there is no estate or succession tax, unless you consider the taxes owing to the CRA on the estate at death.  RC4111(E) for English is what I used to do my research on this area, which can be tricky if you have no experience dealing with Estates, or with the CRA; http://www.cra-arc.gc.ca/E/pub/tg/rc4111/rc4111-e.html.

Here is what makes it complicated… Your loved one dies and there is money left in the estate and by money, I’m referring to bank accounts, some investments and maybe an asset owned in the name of the deceased, like a car, or even a house.  Before you, or the person responsible (the executor) can begin removing things from the deceased’s name into someone else’s name – usually yours - they have to first go to the CRA and find out if the deceased owed any taxes. 

Aside from information already on their systems, the CRA will know if there are taxes owing by the deceased based on what has already been filed.  But what about stuff not filed yet?  One way the CRA determines if there are any taxes owing is by having the executor complete the filing of all tax returns owing for the deceased within 60-90 days of their date of death.  Then, if there is no amount owing, the CRA provides a certificate called a clearance certificate which the executor can then present to banks, etc along with the death certificate in order to move funds and investments over to the surviving member.

If a clearance certificate is not received and funds are disbursed and the estate owes taxes, the CRA can then hold the executor liable for those funds!

The returns the CRA will be looking for include a T1 (individual tax return) for the decreased covering the period from January 1st of the year of death up to the date of death, reporting all income from employment and investments.  Report income earned after the date of death on a T3 Trust Income Tax and Information Return.  A T3 reports income from trusts for the estate (all the assets of the deceased make up the estate).

The capital gains (profit on any item bought) on their investments also have to be accounted for an added on this return.

If you file the final return late and there is a balance owing, the CRA will charge a late filing penalty (LFP).  They will also charge interest on both the balance owing and any penalty. The penalty is 5% of any balance owing, plus 1% of the balance owing for each full month that the return is late, to a maximum of 12 months – as of January 2012.  The LFP may be higher if the CRA has charged a LFP on a return for any of the three previous years.

In certain situations, the CRA may cancel the penalty and interest if you file the return late because of circumstances beyond your control.  If this happens, complete Form RC4288, Request for Taxpayer Relief, or include a letter with the return explaining why you filed the return late. For more information, go to Fairness and Taxpayer Bill of Rights or see IC07-1, Taxpayer Relief Provisions.

Here is the 2011 CRA guide for preparing returns for deceased people;

http://www.cra-arc.gc.ca/E/pub/tg/t4011/t4011-e.html

Ever wondered what a holding company is for the purposes of taxation? Wonder no longer! Read on…

A holding company is a company whose sole purpose is to hold shares in another company.  It does not produce goods or perform services.  

If a holding company owns a majority of shares in that company, it becomes the parent company.

The reasons for establishing holding companies are diverse;

They may be created to operate for a short period of time or as part of a long-term plan. Factors to consider include the nature and revenue of the business, the jurisdiction in which the business owner resides, and the business owner’s long term goals.

Advantages:  Minimizing risks and exposure, a holding company can protect an owner’s interests by keeping creditors at a distance while removing cash from an exposed operating company to a holding company on a tax-free basis.  

In this scenario, owners can take risks through the operating company while limiting the risk to that company and not exposing the holding company because the holding company performs no transactions and therefore does not move cash and other assets around.  The holding company is exposed to risk to the extent of its investment in the operating company.  So if a holding company lends money to the operating company, it can secure the debt and become a secured creditor (A secured creditor is a creditor with the benefit of a security interest over some or all of the assets of the debtor) of the holding company giving the holding company priority when it is time for the debt to be repaid (especially in bankruptcy).

Tax Benefits:  Corporate – Depending on the percentage of outstanding shares held by the holding company in the operating company, the dividends paid to the holding company may be tax-free.  Individual – For shareholders with a high marginal tax rate, a portion of tax on dividends from taxable Canadian companies may be deferred until dividends are paid by the holding company to the shareholders.  You may be able to locate the holding company in a province with a lower corporate tax rate. 

Estate Planning:  Holding Companies may help with succession planning by facilitating the transfer of wealth to the next generation.  Shares in an operating company can be transferred to younger family members through a holding company by way of an estate freeze, structured to cap a person’s tax liability upon his or her death and transfer any future growth to family members.

Disadvantages:  Set-up costs.  Holding companies require additional set-up costs and these expenses can be ongoing, including the cost of preparing annual financial statements and corporate tax returns.  If the number of shares is significant, then this is not so much of a concern. 

No tax benefits or negative tax implications.  As losses realized in a corporation are only available to offset other income earned by the corporation.  Holding companies are also not eligible for the $750,000.00 capital gains deduction. 

Double taxation may exist if personal tax is required to be paid as well as corporate taxes levied on the income earned by the holding company.  To avoid the negative tax consequences associated with the payment of funds from a holding company to a shareholder, include the repayment of shareholder loans and taxable dividends (which may result in a refund of corporate tax to the holding company).

Director’s Liability:  Many moons ago when I worked for the CRA, I came across many holding companies set up in order to protect directors from being responsible for unremitted source deductions, unremitted HST (PST and GST)corporate taxes and they also used passive directors  – usually not involved in day-to-day operations of the business – but they are all still liabile for any debts incurred by the corporation.  Passive directors should of course be aware of what the corporation is doing and should ensure that they are providing due diligence or have director’s liability insurance in place to protect them.

 

5 Qualities of Remarkable Bosses

I just finished reading an incredible article on managing staff on Inc Magazine.  It was written by Jeff Haden and is called 5 Qualities of Remarkable Bosses.  It is available here; http://www.inc.com/jeff-haden/the-5-qualities-of-remarkable-bosses.html 

I’m a huge fan of strong, successful management in organizations especially in light of the fact that every organizations’ most precious commodity is its people.  It’s always been said that “people don’t leave jobs, they leave managers”.

But if you have not clicked that link yet, and you’re still reading, here are the 5 qualities according to Jeff, and to be honest, the reason this article resonated with me is because some of this stuff he mentions can be taught – they teach you in graduate school – while other skills you either have or you do not.  I try each and every day to make sure I am aligned with these qualities and I think if you don’t do these, you really should.  

“Remarkable bosses aren’t great on paper. Great bosses are remarkable based on their actions”.

Here are the 5 according to Jeff…

1. Develop every employee.

I totally agree here that it is the managers responsibility to train, coach, mentor and provide learning opportunities for each and every employee.  By doing this you are showing your employees on a daily basis that they matter and it makes their days better which produces more productive and comfortable employees.  The organization wins here because they are getting constant feedback instead of having to wait for the twice a year formal performance appraisal process.

2. Deal with problems immediately.

Nothing kills team morale more quickly than problems that don’t get addressed. Interpersonal squabbles, performance issues, feuds between departments… all negatively impact employee motivation and enthusiasm and are extremely distracting, because these problems never go away.

As we all know, small problems always grow into bigger problems.  It’s best to not count on the fact that these problems will go away, because at the end of the day someone has to deal with it.  It should be the manager, dealing with the issue head-on, no matter how small.

3. Rescue your worst employee.

Almost every business has at least one employee who has fallen out of grace: Publicly failed to complete a task, lost his cool in a meeting, or just can’t seem to keep up. Over time that employee comes to be seen by his peers—and by you—as a weak link.  Before you consider removing the “dixie cup” from the group, put your full effort into trying to rescue that person instead.   Step up the mentoring and coaching you provide.  A struggling employee has tons of upside; rescue him and you make a tremendous difference. 

4. Serve others, not yourself.

As a remarkable manager you do not need the spotlight.  you have it already.  Your staff, on the other hand, need all the recognition they can get, and face time with senior manager is even more important and their level, so no matter what you to, do not try to take credit for something they have done.  The staff know your contribution and support to them, your team and the organization and trust me, if you’re doing that well, senior management already knows it too.   

When employees excel, you and your business excel. When your team succeeds, you and your business succeed. When you rescue a struggling employee and they become remarkable, remember they should be congratulated, not you.

You were just doing your job the way a remarkable boss should.

5. Always remember where you came from.

I came from an organization which, in my opinion, had terrible management practices, and I went to an organization which had amazing management presence and I took with there all my past experiences about how to not treat employees and made sure not to do any of it. 

I am also very aware of what it’s like being the “new guy” and how people look at you and over time come to get to know you and realize how much you can add to an organizaiton so I make it a policy to always engage the newest employees, ask them questions, talk to them, show them around and give them a work buddy so they don’t ever have to experience that feeling I went through.

I remember where I came from and I know what I hated so it is the responsibility of a remarkable boss to make sure it doesn’t happen again.  Personally, I also try to remember a fact or 2 about each and every employee I come across – along with the correct pronunciation of their names.  It means a lot and it allows me to have a conversation with them beyond “how’s the weather”.

So if you take a step back and look at the support you get from your boss – directly or indirectly – you probably already know what you like about their style and what needs improvement.   Don’t forget the good when thinking about the bad.  for all you know your manager could be trying to improve that too.

Did you know the MRQ has an office in Toronto?

 If you are not sure how this post is related to taxation, then I encourage you to please read on.

Were you aware that The Secrétariat aux Affaires Intergouvernementales Canadiennes had an office in Toronto?

The Secrétariat advises the Government of Québec on all Canadian intergovernmental matters, coordinates Québec government activities in Canada, assures the defence and promotion of Québec’s interests, and collaborates to strengthen links with Canada’s francophone and Acadian communities.

The mandate of this office which opened in 1973, is to promote and safeguard Québec’s interests in Ontario, Manitoba and Nunavut. The head of the Bureau du Québec à Toronto represents the Québec government in its relations with these three governments and is also in charge of Québec’s Vancouver branch office, which is mandated to maintain relations with the governments of British Columbia, Alberta, Saskatchewan, the Yukon and the Northwest Territories.

Contact information

Bureau du Québec à Toronto
20 Queen Street West, Suite 1504
P.O. Box 13
Toronto, Ontario M5H 3S3

Telephone: 416 977-6060
Fax: 416 596-1407
E-mail: bqtoronto@mce.gouv.qc.ca

Head: Paul-Arthur Huot

Intergovernmental and institutional relations

One of the main tasks of the Toronto office is to maintain and develop Québec’s intergovernmental and institutional relations with Ontario, Manitoba and Nunavut and facilitate exchanges with them. To that end, the office plays an active, ongoing liaison role with government and public departments and agencies such as universities, colleges and municipalities.

Economy

The office’s solid market expertise enables it to offer a wide range of economic and commercial consultation services to Québec businesses. It also promotes Québec products. Thus, the office:

• supports Québec businesses seeking to penetrate the Ontario and Manitoba markets;
• advises businesses in its territory looking to invest in Québec or market their products there;
• provides services proper to the regional economic context;
• bolsters business partnerships.

Culture

The office fosters an ongoing dialogue with the artists of Ontario and Manitoba to promote exchanges and develop a network for disseminating the work of Québec artists. Its activities are also aimed at promoting Québec’s cultural works and informing the people of Ontario and Manitoba on Québec culture.

Francophonie

The Office nurtures privileged ties with the Francophone organizations that are present on the territory it covers, thus fostering exchanges and partnerships between the Francophone representatives of these regions and Québec. It plays an active role in managing the programs arising out of the Québec Policy on the Canadian Francophonie, and in monitoring the various cooperation agreements.

E-mail: bqtoronto@mce.gouv.qc.ca

In the “Francophonie” section of its Website, the Secrétariat aux affaires intergouvernementales canadiennes offers useful information concerning the policy’s implementation and available financial assistance pursuant to the policy

Communications and public affairs

The Toronto office represents and promotes Québec. It informs Québec government authorities of the major political and economic issues in its territory. Hence, it:

• provides information and documentation on Québec;
• maintains relations with the national press;
• makes a daily survey of major events in its territory;
• informs Québec government authorities of, and advises them on, the major political, economic and social issues in Ontario and Manitoba.

Taxation

The ministère du Revenu du Québec (or MRQ) has a team of tax specialists at the Bureau du Québec à Toronto, who carry out the necessary verifications concerning Canadian firms that do business in Québec. The Toronto office offers taxpayers and agents a tax information telephone service. It also makes available a complete inventory of tax forms.

Telephone: 416 977-6060

E-mail: saic-bqtrev@mce.gouv.qc.ca

For further information on the Bureau du Québec à Toronto, feel free to contact the office’s personnel.

E-mail: bqtoronto@mce.gouv.qc.ca

http://www.saic.gouv.qc.ca/bureauduquebec/bureau_quebec_toronto_en.htm

so if you need help from the MRQ or need forms, or need direction you can call them, or email them.  If you need to file documents and returns, then drop them off there.

Now that’s service!

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