The proposed budget would not impose new taxes or income tax increases; corporate income tax rates would remain unchanged.
The budget introduces a new refundable tax credit for R&D, innovation, and pre-commercialization to replace certain existing tax credits, effective for tax years beginning after 25 March 2025.
The Québec Finance Minister anticipates deficits of CA$13.6b for 2025—2026 and CA$9.5b for 2026—2027.
Several tax credits would be abolished, including those for research and developm…
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