2019 Quebec Budget

2019 Quebec Budget Highlights

OVERALL:

1. Increase in the 2018-19 surplus predicted in December, from $1.65 billion to $2.5 billion, after the contribution to the Generations Fund
2. A five per cent increase to each of education and health budgets
3. $1.4 billion in new announced spending for 2018-19 and $16.1 billion in spending increases or revenue cuts through 2023-24
4. Projected economic growth of 1.8 per cent in 2019 and 1.5 per cent in 2020
5. Debt projected to fall below 45 per cent of gross domestic product in 2021
6. A $2.5 billion contribution to the Generations Fund in 2019-20, of which $2 billion will come back out to repay debt, as announced in December

TAXES:

1. A 17 per cent reduction overall in school property taxes, after a 16 per cent reduction in 2018-19
2. A lower age of eligibility for a career extension tax credit from 61 to 60, and higher ceiling of eligible income to $10,000 for workers 60-64, plus a new small business payroll tax credit of up to $1,250 for workers 60-64 and $1,875 for workers 65 and over
3. A gradual reduction in the additional contribution for child care, to be eliminated entirely in 2022 (in 2019, families with income under $78,320 will pay the base rate of $8.25 a day)
4. Mandatory registration for lodging taxes for accommodations offered on digital housing sharing platforms

2019 Quebec Budget Plan

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