DRUMMONDVILLE – The Liberal Party is committed to injecting nearly $2 billion over five years to cut taxes self-employed workers and for small businesses, in addition to reducing their contributions to the Health Fund.
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Dominique Anglade’s PLQ wants to broaden the application of the small business deduction (SME) so that approximately 25,000 self-employed workers or businesses can pay less tax.
The measure revealed in their platform is valued at $550 million per year. In this way, the formation of Mme Anglade wishes to reduce the pressure of taxes on the payroll of SMEs.
“It’s mainly to give oxygen to businesses,” she said during a visit to the Le Bockale microbrewery in Drummondville.
“We come to correct an error” for small businesses with fewer than 5 employees who do not have access to the tax reduction.
Remember that the QLP’s financial framework includes $41 billion in commitments over five years.
In addition, the Liberals want to add $50 million per year to reduce the contribution rate for businesses for the health service fund.
“By reducing payroll taxes and clearly committing to no longer increasing their administrative burden, we will stimulate economic growth and create wealth for all Quebecers,” said Ms.me Anglade, claiming to want to give some air to our companies which are experiencing labor and inflation crises.
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Less paperwork
In addition to tax reductions, it is committed to reducing regulatory paperwork.
“Entrepreneurs need to focus on growing their business, not the paperwork,” the formation said in its release.
Thus, the PLQ wants to adopt a law on regulatory relief that will focus on the concept of “1 for 1”.
“Each new administrative formality must, at the same time, be accompanied by the abolition of another existing administrative formality whose cost for companies is equivalent”, indicate the documents of the party.
In its program, the PLQ quotes the Canadian Federation of Independent Business.
Quebec SMEs would have accumulated an average debt of more than $108,000 during COVID-19.
The training also wants to provide more flexibility for the repayment of loans granted under these aid programs.