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November 16, 2020

Quebec Bill 42 receives Royal Assent; Mandatory disclosure requirements for nominee agreements come into effect

Quebec Bill 42, An Act to give effect to fiscal measures announced in the Budget Speech delivered on 21 March 2019 and to various other measures, as amended, received Royal Assent on September 24. Among other measures, Quebec Bill 42 contains measures first announced in the March 21, 2019 Quebec Budget and further detailed by the Ministère des Finances in Information Bulletin 2019-5 released on May 17, 2019 relating to new mandatory disclosure requirements with respect to nominee agreements.

A Tax Alert prepared by Ernst & Young Canada, and attached below, provides additional details.


Full text of Tax Alert