No significant tax measures released
Quebec's Minister of Finance Éric Girard delivered the province's 2020 economic and fiscal update on November 12, 2020 alongside a seven-page information bulletin of related fiscal measures.
The economic and fiscal update anticipates a deficit of $12.35 billion for 2020-201 before its deposits in the Generations Fund of $2.65 billion, bringing the budgetary balance, before use of the stabilization reserve, to a deficit of $15 billion.
The update does not adjust corporate or personal tax rates or introduce any significant tax measures. The Quebec information bulletin introduces tax measures to:
For more information, please contact your KPMG adviser.
Information is current to November 17, 2020. 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
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