Today, Quebec’s Finance Minister, Carlos Leitão, delivered the province’s 2018-2019 budget.
For a fourth year the budget is balanced and the government anticipates that it will maintain balanced budgets in the future. Starting in the next fiscal year, Quebec will begin repaying its debt, at a rate of $ 2 billion per year, using a portion of the amounts accumulated in the Generations Fund since it was put in place in 2006.
The main changes announced in this budget are reliefs for the small and medium-sized businesses (SMBs), the new collection of the QST on e-commerce transactions, the harmonization to the federal measures on split income and various measures to improve the available income to the families.
Download this edition of the TaxNewsFlash to learn more.
© 2018 KPMG LLP, a Canada limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.