Canada: 2021-2022 fall economic update (Quebec)
Changes to address current labor shortages and measures to alleviate the increased cost of living
Changes to address current labor shortages
Quebec Finance Minister on 25 November 2021 delivered the province's 2021-2022 fall economic update and also presented a 14-page information bulletin of related fiscal measures.
The release announces changes to address current labor shortages and includes measures to alleviate the increased cost of living.
The update does not contain any corporate or individual (personal) tax rates changes. However, it announces the introduction of a one-time lump-sum financial assistance payment for certain individuals. It also would enhance the refundable tax credit for senior assistance, amend the refundable tax credit for childcare expenses, and adjust the exemptions allowed for purposes of calculating the premium payable to the public prescription drug insurance plan.
Read a November 2021 report prepared by the KPMG member firm in Canada
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.