TaxTips.ca
Canadian Tax and
Financial Information
Ontario 2019 Budget

Ads keep this website free for you.
TaxTips.ca does not research or endorse any product or service appearing in ads on this site.  Before making a major financial decision you  should consult a qualified professional.

Looking for US tax information?
See
USTaxTips.net

Need an accounting, tax or financial advisor? Look in our Directory.  Use above search box to easily find your topic!   Stay Connected with TaxTips.ca!

Home
What's New
Calculators
Personal Tax
Business
Sales Taxes
Free in 30!
Financial Planning
RRSP RRIF TFSA
Real Estate
Stocks Bonds etc.
Seniors
Disabilities
Canada
Alberta
British Columbia
Manitoba
Ontario
Quebec
Saskatchewan
Atlantic Provinces
Territories
Federal Budget
Provincial Budgets
Statistics etc.
Glossary
Site Map
Directory
Advertise With Us
Contact Us/About Us
Links & Resources

Ontario -> Budgets -> Budget 2019

Ontario 2019 Budget - April 11, 2019

All proposals are subject to legislative approval.  See subsequent legislation:

    - Bill 100, Protecting What Matters Most Act (Budget Measures), 2019

Tax Measures

    - New Ontario Childcare Access and Relief from Expenses (CARE) refundable tax credit proposed, which would provide about 300,000 families with up to 75% of their eligible child care expenses.  This tax credit will start with the 2019 tax year, and will be claimed on the tax return.  The tax credit will be based on family income and eligible child care expenses.  Lower income families would get a higher percentage tax credit.  Starting with the 2021 tax year, families can choose to receive advance payments throughout the year or receive a single payment when filing their tax returns after the year ends.

    - Effective January 1, 2020, eliminating the Estate Administration Tax for taxable estates with assets of $50,000 or less, and reducing it by $250 for larger taxable estates.

    - Faster write-off of capital investments by corporations, under the Ontario Job Creation Investment Incentive, which parallels the measures announced in the federal 2018 Fall Economic Statement.

    - Ontario Interactive Digital Media Tax Credit - proposal to reduce minimum Ontario labour expenditure from $1 million to $500,000 for this refundable tax credit, effective for taxation years commencing after April 11, 2019.

Mentioned in the 2019 Budget, but previously introduced as part of the Ontario 2018 Fall Economic Statement:

     - Ontario Low-income Individuals and Families Tax (LIFT) Credit

    - Small Business Deduction - re not paralleling the federal government measure to phase out the benefit from the lower small business corporate income tax rate.

See the Ontario website for the complete Ontario 2019 Budget and for the Tax Measures.



Revised: April 23, 2019

Copyright © 2002 Boat Harbour Investments Ltd. All Rights Reserved.  See Reproduction of information from TaxTips.ca

Facebook  | Twitter  |  Google + |  Monthly Newsletter Sign-up  Whatís New E-mail Notification RSS News Feed
The information on this site is not intended to be a substitute for professional advice.  Each person's situation differs, and a professional advisor can assist you in using the information on this web site to your best advantage. 
Please see our legal disclaimer regarding the use of information on our site, and our Privacy Policy regarding information that may be collected from visitors to our site.