Quebec -> QC Budgets -> 2014 Budget
Quebec Budget June 4, 2014
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).
Tax measures proposed in the budget include the following items. All changes are subject to legislative approval.
 | Creation of the Quebec Taxation Review Committee to take stock of Quebec's tax system and recommend ways to improve it. |
| Stepping up efforts to fight tax evasion. |
Business Income Tax Changes
| Manufacturing SME (small and medium enterprise) corporate income tax rate will be lowered from 8% to 6% effective June 5, 2014, and will be lowered to 4% effective April 1, 2015, at which time it will correspond to the Canadian average. | ||||
| Additional deduction for transportation costs of eligible manufacturing SMEs that are far from large centres - the deduction will increase according to the remoteness of the SMEs. The amount of this deduction may reach 6% of gross income for a taxation year. | ||||
| Holiday from the contribution to the Health Services Fund on salaries paid will be granted to eligible SMEs that hire a specialized employee to foster innovation. The list of recognized jobs for this reduction can be found in the Additional Information on the Fiscal Measures of the Budget (link below). | ||||
| Tax incentives to promote the modernization and
renewal of vessels at Quebec shipyards:
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| 20% reduction in business tax credit rates, the elimination or suspension of certain tax measures announced since September 2012, and caps on certain fiscal measures for business capitalization. | ||||
| Existing mining tax regime maintained in order to preserve stability. |
Personal Income Tax Changes
| Seniors:
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| Taxpayers under 65 will no longer be able to split pension income with a spouse. |
Sales Tax Changes
| Tobacco tax increased by $4 per carton of 200 cigarettes as of midnight June 4, 2014 |
| Standardization of the tax rates respecting alcoholic beverages sold for consumption at home (rates increased) and sold in restaurants and bars for consumption on-site (rates lowered), as of August 1, 2014. |
More detailed information on taxation changes can be found in the Budget 2014-2015 document Additional Information on the Fiscal Measures of the Budget (pdf).
Quebec Election April 7, 2014
The Quebec government has changed hands from the Parti Quebecois to the Liberals prior to the approval of the budget presented below. The Quebec National Assembly meets again on May 6, 2014 to start the next legislative session. It is not known at this time when the Liberals will present a new budget.
Quebec Budget February 20, 2014
There were no significant tax announcements in the 2014-2015 budget. This budget did not pass, so no changes from it were enacted.
Tax measures proposed in the budget included the following items.
Tax Measures
| The rate of the tax credit for the purchase of CRCD shares will be reduced from 50% to 45% |
| Improvement to the tax credit to foster the modernization of the tourism accommodation offering in the regions |
Many federal budget measures will also be retained by Quebec, including but not limited to the measures relating to:
| addition of certain expenses to the list of expenses eligible for the medical expense tax credit |
|
introduction of a tax credit for search and rescue volunteers |
| elimination of graduated rate taxation for certain trusts and estates |
| donations in the context of death |
| extension of carry-forward period for gifts of ecosensitive land made by an individual, from 5 years to 10 years |
| increase in thresholds determining how frequently employers must remit withholdings at source |
For a complete list of the federal budget measures retained, see the Budget Plan page I.13
Revised: October 26, 2023