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Measures for businesses
Support for SME working capital
In the days following the events of September 11, the Québec government gave SMEs initial assistance in the form of an additional six-month period in which to pay income tax instalments and instalments of the tax on capital that were to be remitted in October. That measure provided SMEs with additional liquidity of $175 million.
The 2002-2003 Budget Speech announces that that measure will also apply to instalments to be remitted in November and December. The businesses concerned will thereby benefit from a total of $525 million in assistance for their working capital.
In addition, SMEs will no longer be obliged to remit source deductions every month if their average monthly remittance does not exceed $1 000. They will be allowed to make remittances quarterly, which will improve their cash flow while relieving their administrative burden. It is estimated that annually there are more than 800 000 forms that small employers will no longer have to file.
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