quebec

The Quebec Liberals are planning to cut taxes for small- and medium-sized businesses in the next provincial budget, Premier Philippe Couillard said Thursday.

He told reporters that were accompanying him on a trade mission to China that those types of businesses find themselves under increased pressure due to changes to pension rules and an impending hike to the minimum wage.

“I think if someone were to bet on a tax effort for companies, especially our small- and medium-sized firms, they would probably have a good chance of winning that bet,” Couillard said.

He wouldn’t go into details about the upcoming budget—the fifth put forth by his government—but said his government would be “cautious” while maintaining fiscal and financial responsibility.

Read: Feds clarify income sprinkling proposal

Couillard said Quebec does not plan to further reduce personal taxes because the province has already made efforts to cut them. For example, he noted that a family of four with an annual income of $90,000 has already received a $1,000 tax cut, and will be getting a government cheque to offset school supply costs.

The legislature is to resume sitting in early February, and all the parties in the province will be looking ahead to the Oct. 1 election.

“In reality, we are already campaigning,” Couillard said. “That’s the downside of fixed election dates.” The premier also said he doesn’t intend to call a snap election.

Read: What’s new or changed for the 2017 tax-filing season

Originally published on Advisor.ca
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