Québec Budget 2017
March 28, 2017
The Québec Economic Plan
On March 28, 2017, Carlos Leitão, Québec's finance minister, tabled his fourth budget and the government's third straight balanced budget. Due primarily to a retroactive reduction of the health contribution for most Quebecers and an increase to the basic credit, the tax burden for individuals will be reduced by $1.2 billion in the coming year. The province's improved financial stability has also allowed for greater spending on public services such as education, health care and public transit. Finally, there will still be funds available in the 2017-18 fiscal year to add $2.5 billion to the Generations Fund to reduce the province's debt.
Highlights
- Province releases third successive balanced budget
- Health contribution for 2016 eliminated for individuals earning less than $134,096
- Introduction of additional 35% capital cost allowance for M&P and computer equipment
- Personal credits increased and to be indexed
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