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Le régime enregistré d'épargne-actions : la fin du moratoire

Author

Listed:
  • Luc Godbout
  • Robert Laplante
  • Marc-André Lapointe
  • Suzie St-Cerny

Abstract

As part of the 2003-2004 budget, the finance minister announced the imposition of a moratorium on certain fiscal policies related to the REA. In the advent of the termination of the moratorium in the next budget (2005-2006), the goal of this study is to find certain alternatives which could be applied to the REA. The first part will briefly expose all the phases that the REA went trough since its inception, as well as its utilization rate. In the second part, some propositions are explored on possible modifications of its application in relation to the financial support of small businesses that go public and the implication to the tax payers who acquire their shares. Those modifications aim at increasing the attractiveness of the program while maintaining a neutral cost for the government. Dans son budget 2003-2004, le ministre des Finances du Québec a annoncé sa décision d'appliquer un moratoire à certaines mesures fiscales pour en revoir la pertinence. Ce moratoire touche notamment les nouvelles émissions effectuées dans le cadre du régime d'épargne-actions. Dans l'éventualité où le ministre annoncerait la fin du moratoire lors de la présentation du budget 2005-2006, cette étude a pour but d'énoncer quelques pistes à explorer quant à des modifications possibles du RÉA. La première partie présente succinctement les diverses phases que ce régime a traversées depuis sa création ainsi que son taux d'utilisation. Dans la seconde partie, des propositions de modification à son fonctionnement actuel sont proposées sous l'angle de l'aide accordée aux PME procédant à une émission publique d'actions et aux contribuables-investisseurs les achetant. Ces modifications visent à accroître l'attraction du RÉA tout en étant relativement neutres en terme de coût pour le gouvernement.

Suggested Citation

  • Luc Godbout & Robert Laplante & Marc-André Lapointe & Suzie St-Cerny, 2005. "Le régime enregistré d'épargne-actions : la fin du moratoire," CIRANO Working Papers 2005s-20, CIRANO.
    • Handle: RePEc:cir:cirwor:2005s-20
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    File URL: https://cirano.qc.ca/files/publications/2005s-20.pdf
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