10% tax credit for merchants

The first budget presented by Quebec’s new mayor Bruno Marchand on Tuesday already has its mark by adding an extraordinary 10% tax credit to businesses severely affected by the epidemic.

Also read: The first Merchant Budget was introduced this Tuesday

Also read: “The Fair Hour” on the Quebec City Tram in January

This credit benefits building owners who run restaurants, hotels and retail businesses (but not shopping centers).

The total assistance is between $ 100 and $ 5,000 per building. By June 30, 2022, more than 1,200 homeowners will receive an average tax credit of approximately $ 2,000. The cost to taxpayers is estimated at $ 2.5 million.

60% of the beneficiaries, at the same time, are estimated to be business owners and managers. This is a new law passed by the National Assembly in March that would allow cities to consolidate this tax gift for a maximum of three years.

On Tuesday, Mayor Marchand said the tax credit was an element of the budget that makes him “extremely proud”.

He did not hide his joy at being able to keep it from the first year he was in office and did not rule out reintroducing it in the years to come.

The city confirmed that the average tax increase (residential and non-residential) would be 2.2%, which is a tax on inflation. For a $ 293,000 single-family home, the average increase would be $ 60 compared to last year.

Marchchand brand

Although he has only been in office for a month, Bruno Marchand has assured that he has all the coordinates to make his mark on this budget.

General management has allocated “financial space” to integrate many aspects of its electoral platform.

In addition to the tax credit for merchants, there are issues such as shopping streets, the return of the Office of International Relations, the fight against the homeless, the management of parks, the seniors’ summit, the budget increase, and so on. And forest protection.

With regard to the tramway project, which is actually worth $ 3.3 billion, the municipality has not yet taken into account the potential explosion in expenditure in its budget documents – $ 600 million.

“The amount provided for the tramway is currently being discussed with the government. They will be adjusted once the negotiations are complete. That would not change the investment planned for 2022, at $ 284 million, ”said Luke Monty, managing director.

Bruno Marchand met with ministers Fran్రాois Bonardell and Genevieve Gilbolt on Tuesday. Their discussion centered on Trump “at 40%” and confirmed the mayor.

Sustainable development

In its budget, the city says most of its new investment is focused on sustainable development and the fight against climate change.

$ 36.2 million has been earmarked for sustainable development programs, of which $ 19.8 million is directly related to the fight against climate change.

– In collaboration with Jean-Luc Lovely and Stephanie Martin