To defend the interests of brokerage firms and to ensure their future viability, we voiced support for Bill C-691, which was tabled on June 11 by Liberal MNA Emmanuel Dubourg.

This legislation seeks to amend Quebec's Taxation Act (business transfers) so small-scale brokerage firms would benefit from a capital gains deduction if a business is transferred from one generation of a family to the next.

As the brokerage industry faces daunting challenges in meeting its workforce needs (a situation compounded by Quebec's aging population), we believe that it is imperative to take concrete action aimed at stimulating business transfers, particularly within the same family.

Since transfers of this kind are a long and complex process, this urgent threat must be dealt with now or many firms might disappear. The associated risks are major and affect not only jobs, but also economic and tax benefits at the federal and provincial levels.

Are you concerned by the issue of family business transfers? Please show your support by emailing us (communications@rccaq.com).