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TAX BULLETIN

  • Extracts from the The Québec Economic Plan and the Additional Information:

    • (...) a gradual reduction from 8% to 4% in the tax rate of SMBs in the service and construction sectors, representing tax relief of nearly $1 billion. (...) In Québec, the general tax rate applicable to corporations is 11.7%.This tax rate will decrease to 11.6% in 2019; subsequently, it will be 11.5%. (...) The 3.7% SBD rate will be raised so that the maximum rate available to a corporation is the following: for the period that begins on the day following the day of the budget speech and ends on December 31, 2018: 4.7%; for the period that begins on January 1, 2019 and ends on December 31, 2019: 5.6%; for the period that begins on January 1, 2020 and ends on December 31, 2020: 6.5%; as of January 1, 2021: 7.5%.

    • (...) the HSF contribution rate applicable to businesses with a payroll of $1 million or less will be reduced gradually as of January 1, 2022 to: 1.25% for the primary and manufacturing sectors, a reduction of nearly 55% compared to the rate in effect before June 2014; 1.65% for the service and construction sectors, a reduction of nearly 40% compared to the rate in effect before June 2014. Also, the March 2018 Québec Economic Plan provides for a $2-million increase in the payroll threshold giving entitlement to the reduced HSF contribution rate for SMBs, which will gradually rise from $5 million currently to $7 million as of January 1, 2022.

    • (...) an increase from 35% to 60% in the additional capital cost allowance rate for investments made after the day of Budget Speech 2018-2019; a one-year extension of the measure, to March 31, 2020.

    • (...) in 2018-2019: making the collection of the Québec sales tax (QST) mandatory for suppliers outside Québec;

    • The QST system will be changed to require suppliers with no physical or significant presence in Québec (hereinafter, “non-resident suppliers”) to register with Revenu Québec, under a new specified registration system, for the purpose of collecting and remitting the QST applicable to their taxable supplies of incorporeal movable property and services made in Québec to specified Québec consumers. Moreover, in the case of non-resident suppliers located in Canada, this registration requirement will also apply to the collection and remittance of the QST applicable to their taxable supplies of corporeal movable property made in Québec to specified Québec consumers (...) The measures stemming from the implementation of the new specified registration system will apply as of: January 1, 2019, in the case of non-resident suppliers outside Canada (...); September 1, 2019, in the case of non-resident suppliers located in Canada.
       

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