The Liberal Party of Quebec (PLQ) is offering $1.85 billion over five years to SMEs to correct a “profound injustice”.
The party pledges to expand the small business deduction (SBD) in two years so that the self-employed and smaller businesses with fewer than five employees pay less tax.
Their tax rate would thus drop from 11% to 3.2%.
Cost of the measure proposed by the leader Dominique Anglade, Tuesday: 550 million dollars per year, but from the third year of the mandate. Carried over the five years of the financial framework, that gives $1.65 billion.
“There is a deep injustice right now, we are coming to correct a mistake,” she said at a press conference in a Drummondville microbrewery.
If it comes to power on October 3, the PLQ also wants to reduce the rate of business contributions to the Health Service Fund by approximately $50 million, starting in the second year of the mandate, in order to help 40 000 more companies. Total cost of the measure over five years: $200 million.
The Liberals also want to reduce the regulatory burden with changes to laws.
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