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March 26, 2021

Québec budget 2021-22 discussed

Québec Finance Minister Éric Girard tabled the province's fiscal 2021-22 budget on March 25. The budget contains tax measures affecting individuals and corporations. The budget contains no new taxes and no tax increases; however, it includes a reduction in the small business tax rate and a change in the rate of the tax credit for non-eligible dividends. The minister anticipates a deficit of $15.0 billion for fiscal 2020-21 and $12.3 billion for fiscal 2021-22, with reduced deficits for each of the next five fiscal years. The government's objective is to restore fiscal balance by 2027-2028.

A Tax Alert prepared by Ernst & Young Canada, and attached below, provides additional details.


Full text of Tax Alert