As part of the roll-out of the Quebec budget, our team of experts provides you with a summary of measures affecting the real estate and construction sector.
Measure affecting private residences for seniors (RPAs) to ensure the continuity of services offered
In the context of an aging population, RPPs also play a vital role in keeping Quebec’s seniors at home, as they complement the services offered by the public health network.
However, from a financial point of view, the horizon has darkened for many RPPs due to COVID-19. Over the next few years, they will have to cope with a significant rise in insurance costs and a considerable increase in spending on healthcare services.
Download our document to read our summary of all the measures planned for RPPs.
Other measures affecting the construction sector
Effective today, the tax rate for businesses eligible for the small business deduction (SBD) is reduced from 4 % à 3,2 %. To benefit from this reduced rate, the same rules apply, including having a minimum of 5,500 paid hours in the fiscal year.
With the impact of COVID-19 on the closure of worksites in March 2020 and the reduction in paid hours that could result, it had been announced in June 2020 that companies would be able to use the previous year’s paid hours to determine their eligibility for ECD.
Download our read-all document on the subject.
Construction sector action plan
The most important measure was announced at the beginning of the week, and is without doubt the implementation of an action plan for the construction sector. The plan includes over 40 measures totalling $95 million over the next three years.
In order to rapidly promote Quebec’s economic recovery, the government is betting on the construction industry. Various public investments totalling 2.9 billion dollars are ahead of us. These investments come with various measures affecting the approval, management and payment processes for construction contracts.
To read our full summary, download our PDF document here.
To find out more about our services for your industry, click here.
A tax credit for investment and innovation (C3i) is currently available and could be relevant to your industry.
Sources:
Gouvernement du Québec, 2021, “Le gabarit budgétaire: Plan d’action pour le secteur de la construction”,
https://www.tresor.gouv.qc.ca/nouvelles/?tx_ttnews5Btt_news5D=600&cHash=09fcaa17945be9c16520e51c4249b58b
Government of Quebec, 2021, “Budget 2021”, http://www.budget.finances.gouv.qc.ca/budget/2021-2022/fr/
