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Quebec residents pay 16.5% less federal income tax annually than other Canadian provinces due to the Quebec Abatement. [42] This lower direct income tax for Quebec residents is factored in when the federal government transfers (Canada Health Transfer, Canada Social Transfer and Equalization) funds back to the Quebec government. [42]
Quebec is the only province that collects provincial personal income taxes by their agency. Thus, Quebec residents file tax returns with both Revenu Québec and the Canada Revenue Agency. Alberta and Quebec collect their own corporate income tax. Filing deadlines generally match those of the federal government.
By some measures Quebec is the highest taxed province; [48] a 2012 study indicated that "Quebec companies pay 26 per cent more in taxes than the Canadian average". [49] A 2014 report by the Fraser Institute indicated that "Relative to its size, Quebec is the most indebted province in Canada by a wide margin".
The Government of Quebec (French: Gouvernement du Québec, pronounced [ɡuvɛʁnəmɑ̃ dy kebɛk]) is the body responsible for the administration of the Canadian province of Quebec. The term is typically used to refer to the executive of the day (i.e. ministers of the Crown ) and the non-political staff within each provincial department or ...
The QPP's contribution rate was 9.9% prior to 2012. In accordance with the 2011–12 Budget of the Government of Quebec, the contribution rate was increased by 0.15% per year for six years from 2012 to 2017. Consequently, the contribution rate increased to 10.8% for 2017 and subsequent years. [25] [26] [27]
The Gazette officielle du Québec (French pronunciation: [ɡazɛt ɔfisjɛl dy kebɛk]) is an official publication of the Quebec government. It is used to promulgate new laws and regulations, which thereby become official. It was founded on January 16, 1869.
The Ministry of Finance (in French: Ministère des Finances) is a department in the government of Quebec. Its official purpose is to "foster economic development and advise the government on financial matters," and the department's responsibilities include providing advice in budgetary, fiscal, economic, financial and accounting matters. [1]
The Government of Canada developed a formalized "risk-shared" agreement with several financial institutions, whereby the institution would assume responsibility for the possible risk of defaulted loans in return for a fixed payment from the Government which correlated with the amount of loans that were expected to be, or were, in default in ...