DRUMMONDILLE- The Liberal Party has pledged $600 million to cut taxes on the self-employed and small businesses, as planned in its platform, in addition to reducing its contributions to the health fund.
• Also read: Dominique Anglade “senses the tide is turning” in Quebec
Dominique Anglades PLQ wants to expand the application of the small business (SME) credit to allow around 25,000 self-employed people or companies to pay less tax. The measure disclosed on their platform is valued at $550 million. In this way, Ms Anglade’s training aims to reduce the tax pressure on SME payroll accounting.
In addition, Liberals want to add $50 million to lower the corporate contribution rate to the health fund.
Keep in mind that the QLP’s financial framework includes $41 billion in commitments over five years.
“By lowering payroll taxes and making a clear commitment not to further increase their administrative burden, we will spur economic growth and create prosperity for all Quebecers,” Ms. Anglade said, claiming to give our workforce-affected companies a little breathing room wanting and inflationary crises.
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Less paperwork
In addition to tax cuts, she advocates for reducing regulatory paperwork.
“Entrepreneurs need to focus on growing their business, not the paperwork,” the formation said in its press release.
The PLQ intends to pass a regulation relief law that focuses on the “1 for 1” concept.
“Any new administrative formality must be accompanied simultaneously by the abolition of another existing administrative formality whose cost to businesses is equivalent,” the party’s filing states.
The PLQ quotes the Canadian Federation of Independent Business in its program.
Quebec SMEs have accumulated an average debt of more than $108,000 during COVID-19.
The training also aims to create more flexibility when it comes to repaying loans granted as part of these aid programs.