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Ontario 2019 Budget
Canadian Tax and
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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
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.
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.