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Wednesday, March 11, 2020

Québec provincial budget - March 11, 2020

MEASURES CONCERNING INDIVIDUALS

A new refundable tax credit for caregivers

The government is announcing the introduction of a refundable tax credit of up to $2,500 for caregivers. This new tax credit, which will require investments of $532 million over five years, will replace the refundable tax credit for informal caregivers of persons of full age. The tax assistance provided will be higher, streamlined, and available to a greater number of people.

This tax credit will, in particular, double the amount of tax assistance provided to caregivers of a relative with a severe and prolonged impairment.

Impact on payroll: We will advise you as soon as we obtain details on the application of this measure.

Putting money back in the pockets of Quebecers

As part of Budget 2020-2021, the government is taking another step toward standardizing school tax rates by announcing an additional reduction in rates as of July 1, 2020.

Impact on payroll: None