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2016-2017 Quebec budget highlights

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Mar 17, 2016

On March 17, 2016, Finance Minister Carlos Leitão tabled the 2016-2017 Quebec budget. The minister confirmed that Quebec returned to a balanced budget in fiscal 2015-2016. The budget is expected to again achieve fiscal balance for 2016-2017.

The government is using some of the room it now has in the budget to ease the tax burden, reduce the debt, and strengthen funding to public services.

Some of the key features of the budget plan were:

Tax measures for businesses

  • As of 2017, eligible specified employers will be able to claim an additional reduction in the Health Services Fund contribution rate. 
  • For taxation years beginning after December 31, 2016, the eligibility criteria for the small business deduction (SBD) requiring a minimum number of employees will be replaced by an eligibility criteria requiring a minimum number of hours worked.
  • After consultation, the Ministère des Finances has retained the seven eligibility criteria that must be met by a taxpayer to qualify for the tax relief in the transfer of family businesses announced in the March 26, 2015 budget speech.

Minister Leitão’s budget represents the government’s second consecutive year of balanced budgets and uses part of the recovered room to ease the tax burden, reduce the debt and strengthen funding for public services.

The announced changes to taxation in Quebec are outlined in our Canadian tax alert

For further details, we refer you to the Ministry of Finance website.

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