Quebec Provincial Budget: March 12, 2024

It’s important to keep up with breaking tax news and that includes provincial tax changes, to help clients make important lifecycle decisions like whether to start a job or business in another province.  Here’s what’s new from the budget in Quebec, brought down March 12, 2024. 

Changes were also announced to ensure that starting January 1, 2025, seniors age 65 or over with disabilities, will  no longer be subject to a retirement pension reduction.   Those age 60 to 64 in receipt of a disability pension will be assured their benefit will be at least as high as prior to the payment of a retirement pension retroactive to January 1, 2024.

The budget also proposed to reduce the maximum rebates to those who purchase an electric vehicle starting January 1, 2025.  Those rebates will be phased out gradually and stopped on January 1, 2027.

Please see upcoming issues of KBR for a synopsis of significant provincial budget measures and join us for the May 22 CE Summit when these budgets will be discussed in more detail.

A great way to stay up to date on all the breaking tax news is to register for EverGreen Explanatory Notes.  It’s your personal tax research assistant throughout tax season with Issues and Answers, tax filing forms and most importantly, clear and easy-to-read authoritative information you need to file your clients’ personal and corporate tax returns.