Economy & Markets

Quebecers who earn more than $100,000 a year will see their income tax rise

By Canadian Press |
Source: The Canadian Press

Highlights of Quebec's 2013-14 budget, which was tabled Tuesday:

  • The price of a carton of 200 cigarettes will climb by $4. The measure is expected to bring in an additional $130 million in 2013-14.
  • A bottle of beer will cost three cents more, a bottle of wine 17 cents more and a bottle of spirits an extra 26 cents. The government believes it will collect an extra $100 million.
  • Quebecers who earn more than $100,000 a year will see their income tax rise by 1.75 percentage points.
  • Hydro-Quebec will lose 2,000 jobs through attrition.
  • The province is expected to post a balanced budget on revenue of $72.4 billion.
  • Capital investments will be capped at $9.5 billion a year, compared with the previously announced figure of $11 billion.
  • Companies that invest $300 million or more in specific sectors will get a 10-year exemption from paying tax — a measure dubbed the "Tax Holiday for Investments."