Quebec Finance Minister Eric Girard delivered the province’s 2021-2022 budget on March 25, 2021.
The budget anticipates a deficit of $15 billion for 2020-2021 and a deficit of $12.3 billion for 2021-2022. The government expects the budget balance to be restored for fiscal 2027-2028.
Although the budget does not contain any personal tax rates changes, it effectively decreases the small business income tax rate and changes the non-eligible dividend tax credit rate. The budget also temporarily increases certain credits, including the investment and innovation tax credit and the refundable tax credit for on-the-job training periods.
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