Quebec 2011 Budget - March 17, 2011
Full details of the budget can be found on the Finance
Quebec website, with the highlights found in the Budget
at a Glance document(pdf file).
Some of the measures proposed in the budget:
Shelter allowance program enhanced
allowance program, which helps low-income households to pay their
rent, will be enhanced by lowering the eligibility age gradually
to 50 from 55 for single people and couples without children.
Tax credit for work income
As of January 1, 2012, a tax credit will be
implemented gradually to offset the Quebec income tax payable on work
income between $5,000 and $15,000 for workers age 65 or over.
Informal caregiver tax credit
Informal caregivers who cohabit the dwelling of an
eligible relative will be able to obtain the tax credit for informal
caregivers, and the spouse of a person aged 70 or more will also be
Green vehicles rebate
As part of the 2011-2020 Electric Vehicle Action
Plan, the tax credit for green vehicles will be replaced by a purchase
or leasing rebate. A rebate of up to $8,000 will be available to
purchasers of a plug-in electric or hybrid electric vehicle.
Quebec Pension Plan (QPP)
rate for the QPP will increase by 0.15% per year over a period of
six years, beginning January 1, 2012.
To encourage later retirement, benefits applied for
after age 65 will be increased as of January 1, 2013.
Benefits applied for prior to age 65 will be reduced
as of January 1, 2014.
Voluntary Retirement Savings Plans
A new private retirement savings plan is being
introduced which will be available to all Quebec residents, including