Global

Details

  • Service: Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 7/17/2013

Canada - Quebec harmonizes with 2013 federal budget proposals 

July 17:  Quebec issued an information bulletin that, among other measures, introduces harmonization measures with the 2013 federal budget (now partly contained in the first federal budget bill, Bill C-60).

Quebec, however, is not harmonizing with certain 2013 federal budget measures.


The 36-page bulletin announces an enhancement of the refundable tax credit for the development of e-business, as well as:


  • A refocusing of the temporary contribution payable by financial institutions towards large institutions and temporary tax relief for damage insurance firms
  • Fiscal measures pertaining to businesses—most of which are designed to clarify the application of certain tax credits
  • Clarifications to the calculation of contributions payable by workers and employers to the Quebec “pension plan”
  • Recognition of two new centres as eligible public research centres for the purposes of the refundable tax credit for scientific research and experimental development (SR&ED)

Read a July 2013 report prepared by the KPMG member firm in Canada: Quebec Harmonizes with 2013 Federal Budget Proposals




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