Quebec cuts taxes for lowest income brackets | Investment Executive
The province is also increasing the maximum age for applying for a retirement pension to 72 from 70
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The province is also increasing the maximum age for applying for a retirement pension to 72 from 70
Taxpayers will save hundreds but government loses out on revenue
The CAQ government offered an optimistic view of the economy while presenting a budget that includes one of the largest tax cuts in Quebec’s history.
Some economists question the CAQ government's pledges of lower taxes and higher spending, but they may get away with it in the budget because of stronger economic indicators than expected.
The promised cut would save $814 for taxpayers earning more than $100,000 a year, according to the Institut de recherche et d'informations socioéconomiques (IRIS). The savings are $378 for a taxpayer making $55,000. Nearly 35 per cent of Quebec's population will not earn enough income to benefit from the tax break.