Quebec budget 2017: What it means for your wallet
We break down what the budget means for your pocketbook, your business, your education and your health
Here are the highlights of Quebec's 2017-2018 financial plan:
For your pocketbook:
- No health tax for 2016 for people making less than $134,095. If you've already submitted your taxes for 2016 1) wow! and 2) expect a new notice of assessment by June 30.
- $55 income tax cut. The zero-tax threshold will be raised to $14,890. That means all 4.3 million taxpayers making more will see a little extra cash on their 2017 returns.
One year extension to the RénoVert tax credit. If you spend more than $2,500 on home renovations that support Quebec's sustainable development goals, you qualify for a 20 per cent tax credit. The rebate is capped at $10,000.
For your business
- $26 million in new funding for start-ups and small- and medium-sized businesses.
- $125 million in new money for innovating Quebec's manufacturing sector.
- $179 million over five years for programs to help integrate immigrants into the labour market.
- $17.9 billion for education (including higher education).
- Money to hire 1,500 new staff members for Quebec schools, who are to start in September.
- $100 million, between now and 2021-2022, to develop Montreal as an artificial intelligence super-cluster.
- $36.8 billion for health and social services.
- $100 million to cut hospital wait times, and an additional $41 million for cutting diagnostic and surgery wait times.
- $65 million to improve care in seniors' residences (CHSLDs), part of which will go towards hiring 1,150 nurses and other attendants.
FOR FULL DETAILS:
- Minor tax relief, more cash for health and education in Quebec's 2017 budget
- Watch our Facebook Live Q&A with accountant/professor Marie-Soleil Tremblay: