Canada: 2021-2022 fall economic update (Quebec)

Changes to address current labor shortages and measures to alleviate the increased cost of living

Changes to address current labor shortages

Quebec Finance Minister on 25 November 2021 delivered the province's 2021-2022 fall economic update and also presented a 14-page information bulletin of related fiscal measures.

The release announces changes to address current labor shortages and includes measures to alleviate the increased cost of living.

The update does not contain any corporate or individual (personal) tax rates changes. However, it announces the introduction of a one-time lump-sum financial assistance payment for certain individuals. It also would enhance the refundable tax credit for senior assistance, amend the refundable tax credit for childcare expenses, and adjust the exemptions allowed for purposes of calculating the premium payable to the public prescription drug insurance plan.

Read a November 2021 report prepared by the KPMG member firm in Canada

 

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