Quebec announced new harmonization measures in Information Bulletin 2017-6.
The tax measures in this eleven-page bulletin will align several Quebec tax measures with recently proposed federal government tax legislation, notably measures that were announced in the 2017 federal budget and included in the Bill C-44, which received first reading on April 11, 2017.
This bulletin also contains a table that indicates which of the federal legislative or regulatory proposals that were announced by Finance on September 16, 2016 will be incorporated into Quebec tax legislation or regulations.
When implementing measures relating to the federal budget, the bulletin states that the changes to the Quebec tax system will only be adopted following assent to any federal statute (or adoption of any federal regulation) implementing the proposed federal measure being harmonized. Further, the bulletin states that these changes will apply on the same dates as the federal measures being harmonized.
Measures harmonizing with the 2017 federal budget
Corporate tax measures
Quebec will harmonize with various federal corporate provisions proposed in the 2017 federal budget, including measures that:
Personal tax measures
Quebec will harmonize with several personal tax provisions proposed in the 2017 federal budget, including measures that:
Quebec will not harmonize with certain 2017 budget measures, including those that relate to:
These are measures that do not apply at a provincial level or that Quebec already has separate legislation for.
Other harmonization measures
Quebec also announced harmonization with the proposed principal residence exemption changes, which were announced on October 3, 2016 and various proposed measures announced in the draft proposals relating to technical amendments released by Finance on September 16, 2016, including:
For more information, contact your KPMG adviser.
Information is current to May 09, 2017. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500