Québec Bill 112: Significant Changes To Duties On Transfers Of Immovables

The Québec 2016-2017 Budget tabled by Finance Minister Carlos Leitão on March 17, 2016, announced significant changes to the Act respecting duties on transfers of immovables applicable to all transfers of immovables in the province of Québec as of March 18, 2016.

On November 15, 2016, Bill 112: entitled An Act to give effect mainly to fiscal measures announced in the Budget Speech delivered on 17 March 2016 (Bill 112) was tabled in the National Assembly, introducing the much-anticipated proposed legislation in respect of such changes. For the most part, the proposed amendments are consistent with the Budget announcement.

Under the former rules, transfer duties were payable only upon registration of the transfer at the land registry. The new rules introduce a significant change to this regime, transfer duties now being payable as of the transfer date of an immovable (real property), whether or not the transfer is registered.