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2021 Quebec Economic and Financial Update

2021 Quebec Economic and Financial Update

Synopsis
2 Minute Read

Québec Finance Minister Eric Girard released the Update on Quebec’s Economic and Financial Situation on November 25, 2021.

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Insight
Performance Insight Tax Services

On November 25, 2021, Quebec Finance Minister Eric Girard delivered the Fall 2021 Update on Quebec’s Economic and Financial Situation.

No tax rate changes were announced, but the Government announced several initiatives to help support the cost of living, combat labour shortages and stimulate economic growth, and continue efforts to strengthen the healthcare system.

Tax measures announced include:

  • Enhancing the refundable tax credit for childcare expenses for parents of children that attend non-subsidized daycare
  • Enhanced assistance for seniors through the refundable senior assistance tax credit (effective 2021) and refundable tax credit for home support services (effective January 2022)

More details and highlights of the Quebec Fall 2021 Update can be found here.

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