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Quebec   ->   QC Budgets -> 2009 Budget

Quebec 2009 Budget - March 19, 2009

Full details of the budget can be found on the Finance Quebec website, with the tax changes found in the Additional Information on Budgetary Measures (pdf file).

The following is a summary of changes related to personal income tax:

bulletImprovements to the refundable tax credit for child care expenses, including an increase from $7,000 to $9,000 in the limit on child care expenses for a child under 7 years of age.
bulletRecognition of the Youth Alternative Program for the application of the work premium supplement
bulletStreamlining of the Quebec education savings incentive (QESI)

Tax changes related to business:

bulletIntroduction of a ten-year income tax holiday for a new corporation dedicated to the commercialization of intellectual property
bulletIntroduction of a five-year royalty holiday for new natural gas wells
bulletExtension to the forest and mining sectors of the refundable tax credit for manpower training in the manufacturing sector.
bulletImprovements to refundable tax credits in the cultural field
bulletChanges to the refundable tax credit for the development of e-business
bulletChanges to the refundable tax credit for design.

Other tax measures:

bulletIncrease in the rate of the Quebec sales tax (QST) from 7.5% to 8.5% as of January 1, 2011.
bulletMajor improvements to the SME Growth Stock Plan, which becomes the stock savings plan II
bulletTemporary increase in the tax credit for the acquisition of shares issued by Fondaction.
bulletIntroduction of a refundable tax credit for the acquisition or lease of a new green vehicle

Quebec is also adopting some of the measures announced in the Federal 2009 Budget, including the following:

bulletthe deduction for loss of value of investments in an RRSP or RRIF after death
bulletthe increase in the small business limit from $400,000 to $500,000.  This will take effect March 20, 2009.
bulletthe time at which the acquisition of control of a corporation takes place to determine whether it is a small business corporation or a Canadian-controlled private corporation (CCPC)
bulletthe amendments pertaining to capital cost allowance applicable to certain assets
bulletthe withdrawal of the restrictions applicable to the deductibility of certain interest

The Quebec Finance Ministry already announced that it would incorporate, with adaptations on the basis of its general principles, the federal measure relating to the increase in the maximum withdrawal limit under the Home Buyers Plan to $25,000.

January 14, 2009 Economic Statement

The January Economic Statement announced six new measures, including the following two tax measures:

bulletnew refundable tax credit for home improvement and renovation
bullet20% of eligible expenditures in excess of $7,500
bulletmaximum credit $2,500
bulletfor expenditures made by a contractor under terms of an agreement entered into after December 31, 2008 and before January 1, 2010
bulletexpenditures must be paid no later than June 30, 2010
bulletimprovements to the refundable tax credit for Quebec film and television production
bulletbase rates of 29.1667% and 39.375% will be raised to 35% and 45%
bulletnew increase of 10% introduced for certain Quebec  film and television productions
bulletper film or per series capp on the tax credit, currently $2,187,500, will be eliminated
bulletmaximum rate of the tax credit, currently 48.5625%, will be raised to 65%

Full details on these tax measures can be found in the January 14, 2009 Economic Statement Additional Information (pdf file) on the Quebec Finance Ministry website.

The Economic Statement also announced that the minimum wage would be increased from $8.50 to $9.00 per hour effective May 1, 2009.

The other documents (pdf files) available on the Quebec Finance Ministry website regarding the economic statement are:

    - Minister's statement, and

    - Explanatory document

Revised: October 26, 2023

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