Canada: Tax measures in 2022 budget enacted (Quebec)

Quebec Bill 33 received Royal Assent on 8 June 2022

Quebec Bill 33 received Royal Assent on 8 June 2022

Quebec Bill 33, which includes a harmonization measure to limit the stock option deduction for certain employees and provide a potential deduction for employers, received Royal Assent on 8 June 2022.

The bill also contains:

  • Measures to harmonize Quebec rules with certain federal rules
  • Measures previously announced in various information bulletins published between 2020 and 2022
  • Certain individual (personal) tax measures announced in the 2022 provincial budget and Quebec's 2021-2022 fall economic update

Note that Bill 33 does not include the one-year extension to the temporary increase in the tax credit related to the investment and innovation (C3i) until 31 December 2023 (as proposed in the Quebec 2022 budget).

Read a June 2022 report prepared by the KPMG member firm in Canada


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