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March 24, 2022

Québec budget 2022-23 discussed

Québec Finance Minister Éric Girard tabled the province's fiscal 2022-23 budget on March 22. The budget contains several tax measures affecting individuals and corporations. The budget contains no new taxes and no tax increases. The minister anticipates a deficit of $7.4 billion for fiscal 2021-22 (after contributions to the Generations Fund) and $6.5 billion for fiscal 2022-23, with reduced deficits for each of the next four fiscal years. The government's objective is to restore fiscal balance by 2027-28. This is the detailed Tax Alert on the budget; a Tax Alert with highlights of the budget was published on March 23 and is available here.

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


Full text of Tax Alert