Montréal, March 21, 2013 – Reacting to the Federal Budget, Fonds de solidarity FTQ President and CEO Yvon Bolduc encouraged Fonds shareholders to express their opinion on the fate of the tax credit granted for labour-sponsored fund contributions.
"I'd like to start off by saying that the cuts proposed today in no way affect the Fonds' financial health or the liquidity of its assets. The savings of over 600,000 Québec workers who have invested $8.8 billion in the Fonds are channelled into solid, diversified private equity and other investments.”
In the Federal Budget tabled today, the federal government announced the phasing out of the 15% tax credit granted to shareholders of labour-sponsored funds. The credit will remain at 15% until the 2014 taxation year and will then be reduced by 5% per year until 2017. The 15% provincial tax credit is not affected. For the next two years, the total credits of 30% will not be touched or changed.
However, and this is important for the middle class, reducing the tax savings will have a direct impact on its ability to contribute to an RRSP from a labour-sponsored fund, such as the Fonds de solidarité FTQ, which invests primarily in Québec businesses.
It is important to note that for now the changes are just a proposal that will only come into effect if the Budget is adopted. The Fonds de solidarité FTQ, along with the FTQ, will make the necessary representations to maintain the 15% federal tax credit.
Taxpayers must defend their tax credit. We strongly encourage the public to send their comments to the federal Minister of Finance by email to jflaherty@fin.gc.ca and to their local MPs. We also invite the public to use the #plus30pourcent hashtag on Twitter and to express their opinion on social media such as Facebook.
We would like to thank our shareholders for the confidence they place in us by entrusting us with their retirement savings. They are the reason the Fonds has become a beacon of the Québec economy 30 years after its creation.
À propos du Fonds de solidarité FTQ
Créé en 1983, le Fonds de solidarité FTQ fait tourner l’économie d’ici depuis 30 ans. Avec un actif net de 8,8 G$ au 30 novembre 2012, ce fonds d’investissement en capital de développement fait appel à l’épargne des Québécoises et des Québécois. Ses investissements, dans tous les secteurs de l'économie, contribuent à la création et au maintien d’emplois dans les entreprises et favorisent le développement du Québec. Le Fonds de solidarité FTQ est partenaire, directement ou par l'intermédiaire de l'un des membres de son réseau, de plus de 2000 entreprises. Avec près de 600 000 actionnaires-propriétaires, il participe à la création, au maintien et à la sauvegarde de près de 170 000 emplois. Pour en savoir plus, rendez-vous sur le site www.FondsFTQ.com.
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Information pour les journalistes seulement :
Patrick McQuilken
Conseiller principal aux relations de presse et aux communications
Fonds de solidarité FTQ
Téléphone : 514 850-4835
Cellulaire : 514 703-5587
Courriel : pmcquilken@fondsftq.com
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