Quebec budget 2017: What it means for your wallet
We break down what the new provincial budget means for your pocketbook, your business, your education and your health.
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.
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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.
Smarter
- $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.
Healthier
- $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.
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