Any taxpayer who carries out a specified transaction (or who is a member of a partnership that carries out a specified transaction) whose form and substance of the facts specific to the taxpayer or partnership are significantly similar to the form and substance of the facts of a transaction determined by the Minister and published in the Gazette officielle du Québec must disclose the transaction. The disclosure is made using form TP-1079.OD-V, Mandatory Disclosure of a Specified Transaction or Preventive Disclosure.

An adviser or promoter who commercializes or promotes a determined transaction must also disclose the transaction. The disclosure is made using form TP-1079.CP-V, Mandatory Disclosure of Tax Planning by an Adviser or Promoter.

However, taxpayers, advisers and promoters are not required to file a disclosure form for any transaction that Revenu Québec has identified as an excluded transaction.

On November 18, 2024, a new excluded transaction under determined transaction 1, “Avoidance of Deemed Disposal of Trust Property,” was identified and published on our website. The transaction is as follows:

The distribution of a given property if, within 60 days after the time referred to in subparagraph (f) of the first paragraph of the description of the determined transaction above, the trust referred to in subparagraph (f) (the transferee trust) distributes the given property to one of its beneficiaries who is a natural person.

For a list of determined transactions, the deadline for making a mandatory disclosure or more information, see Determined Transactions.