Exemptions From Payment Of Transfer Duty For Partnerships

On December 20, 2017, the Quebec ministère des Finances issued Information Bulletin 2017-14 in which it announced that the Act respecting duties on transfers of immovables (the "Act") will be amended to introduce an exemption from payment of the transfer duty when a partnership (limited partnership, general partnership or joint venture) is involved in a transfer of an immovable in circumstances similar to the circumstances provided in subparagraphs (a), (b) and (c) of the first paragraph of section 19 of the Act in respect of a legal person.

These amendments to the Act apply to the transfer of an immovable made after the day of publication of the bulletin, that is, commencing on December 21, 2017.