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Canada: Tax measures in 2020 economic and fiscal update (Quebec)

Canada: Tax measures in 2020 economic and fiscal update

Quebec’s Minister of Finance delivered the province’s 2020 economic and fiscal update alongside a seven-page information bulletin of related fiscal measures.

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The economic and fiscal update does not reflect any changes to the provincial corporate or individual (personal) tax rates and does not introduce any significant tax measures.

The Quebec information bulletin reflects the following tax measures.

  • The credit on employer contribution to the health services fund (the HSF credit) for employees on paid leave during the coronavirus (COVID-19) pandemic is extended. As a result, the credit granted to eligible employers that qualify for the Canada emergency wage subsidy (CEWS) is extended to 19 December 2020.
  • The refundable tax credit for Gaspésie and certain maritime regions of Québec is extended to 31 December 2025 (the eligibility period for this tax credit was initially scheduled to end 31 December 2020).
  • Exemptions allowed for the purpose of calculating the premium payable under the public prescription drug insurance plan are adjusted.
  • The annual premium payable by an adult individual is determined on the basis of family income, from which an exemption amount is subtracted. The information bulletin shows the amount of each of the allowable exemptions for 2020, according to household composition.


Read a November 2020 report prepared by the KPMG member firm in Canada

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor 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 on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

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