2016-2017 Quebec Budget
QUEBEC – Finance Minister Carlos Leitao tabled Quebec’s 2016-17 budget on Thursday. Here are some highlights:
Tax measures for individuals
- The budget announced changes to the plan to reduce the health contribution so that it will be entirely eliminated for all taxpayers in 2018
- The budget has announced the creation of a new refundable tax credit called “RénoVert”.
- Starting in 2016, the refundable tax credit related to the work premium will be increased for households without children
- As of 2016, the limits on donations eligible for the tax credit for donations will be eliminated and, as of 2017, the tax credit for individuals whose marginal tax rate is greater than 24% will be enhanced.
- As of 2018, the age of eligibility for the tax credit for experienced workers will be 62 years.
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