In the end, more than 6.5 million taxpayers will have access to that financial assistance.

The amount will be $600 for those whose individual income doesn’t exceed $50,000. It will gradually decrease, down to $400 for those with an income slightly above $50,000.

Revenu Québec

Although Revenu Québec specifies that people don’t have anything to do in order to receive that financial assistance, many have still haven’t received the money, and are wondering.

For example, is it normal that all the members of my family, all having the same last name, have already obtained their cheque, but not me? Why did my friends already receive their check two weeks ago, but I’m still without answer?

First, it’s important to know that taxpayers who are yet to file their 2021 income tax return have until June 30, 2023 to do so in order to take advantage of that new measure to counter inflation.

People who received last-resort financial assistance on Dec. 31, 2021, and benefit from the automatic payment of the TQS component of the solidarity tax credit, don’t have to file an income tax return to be eligible for the cheque.

Payment Date

Something important to know is that you can find the date you should receive your cheque on Revenu Québec’s website, on Mon Dossier. Also, the amount of the cheque’s also indicated there, if you have any doubts about it.

So, in case of uncertainties, just look there, and you’ll see everything you need to know.

In collaboration with Nicholas Pereira

L’article Many People are still Waiting for Their Cheques est apparu en premier sur Courrier Laval news.

In addition to providing strategic support, the program finances 25 per cent of the equipment acquisition cost, up to $100,000, in addition to related costs for a maximum total amount of $125,000 per company.

According to Mayor Stéphane Boyer, that digital shift and the resulting increased productivity are essential “to keep companies competitive and meet their workforce challenges”.

Leverage

Resulting from the Laval, capitale des opportunités Economic recovery plan tabled in the summer of 2020, this direct financial assistance program for the manufacturing sector was a big success last year.

As a proof, for each dollar invested by Laval, the 6 beneficiary companies were giving 15. The $750,000 in municipal funds granted in 2021 have generated investment projects of approximately $11.3 million.

This measure not only contributed to maintaining 600 jobs and creating 53 new ones, but also to making the funded businesses even more profitable. By chance, they’re estimating an average growth in turnover of 20 per cent over the past year.

“[…] with the help of the program, manufacturing companies have been able to increase their production capacity up to 24 hours a day, while reducing the impact of labour shortage and automating their processes,” we can read in the press release published by the City on May 24.

Nearly a Million

Director of Laval économique, Lidia Divry urges SMEs leaders to initiate the movement, or continue their digital transformation project, as the case may be.

“Phase II of the Accélérateur d’opportunités – Soutien à la productivité program is currently accessible to all manufacturing companies in Laval, and so far, about 10 [of them] have expressed an interest in submitting a project.”

For the relaunch of that project, Ms. Divry and her team have a limited budget of $962,000.

For any other information, please contact Benard Pitre, commissioner of technological transformation, at b.pitre@laval.ca ou 438 223-5384.

translated by Alec Brideau

L’article Going Digital: Up to $125,000 in Grant est apparu en premier sur Courrier Laval news.

Mayor Stéphane Boyer attributes this operating surplus to a tight control of expenses and a real estate activity much more sustained than expected.

Those statistics are comparable to last year, where the record surpluses of $85.6 million generated in 2020 were mostly explained a special assistance of $42.3 million from Quebec in this first year of the pandemic.

The surplus of $38.2 million represents 4.1 per cent of an operating budget of $932 million in 2021.

Lower Expenses

Savings of $29 million were made with projected expenses, including $12 million saved on payroll. It ended at $376 million, including overtime.

The labour shortage situation has meant that the 127 new budgeted full-time equivalent positions were not all filled last year and that the staffing period, for those who’ve been, was stretched from three to six months.

“It didn’t, moreover, prevent us from doing an important PTI (triennial capital assets plan) and maintaining services despite everything,” Boyer said in an interview with the Courrier Laval.

Professional fees and technical services cost $7.8 million less than projected. In terms of fees, for example, $4.6 million of the $25 million budgeted remained on the table. These savings are mainly from the Communications Department ($2.4 million) and the Downtown Development Department ($1.9 million).

For what’s about the financial costs, they were $2.5 million lower than expected.

Revenues Going Up

The strong economic activity observed in 2021 has allowed the City to collect $20.5 million more than the estimated revenues.

Totaling $64.9 million, transfer duties generated $15.4 million more than the $49.5 million anticipated.

As for the permits issued last year, Laval collected $3.9 million from developers, and from owners and renovators, the highest registered according to the Director of Finance, Pierre Beaudet. Surprisingly, it’s an increase of 63 per cent compared to the $2.4 million estimated at the moment.

For the whole year, the total value of building and leasehold improvement permits is $1.4 billion.

Support Measures

However, the surpluses recorded aren’t made to the detriment to the detriment of the services given to citizens, says Boyer. The City even invested $18 million in many measures to help citizens affected by the pandemic, with the two-thirds in a tax freeze ($10.8) and the postponement of the deadlines for the payment of the tax account ($1 million). The business support program ($5.3 million) and the economic recovery plan ($0.9 million) are completing those investments.

A Shortfall

Still in 2021, Laval also had to deal with a shortfall of $14 million compared to expected revenues. Of this number, tax products were $4.8 million lower than expected, despite a record number of permits issued. This decline is the result of decisions given by the Tribunal administratif du Québec in the wake of challenges of value of the role. On this topic, let’s remember the out-of-court settlement under which Laval had to pay back $16.5 million in capital, interest and costs to the Rocket’s arena, the CH Group subsidiary and manager of Place Bell.

Also, investment income have generated $3.2 million less than projected, while fines brought in $18.6 instead of the budgeted $20.6 million.

Reassignment

Of the financial surplus, $5.9 million will go into the snow reserve, $13.1 million will go into the reserve for cash payment of upcoming fixed assets, and the remaining $16.2 million will be for unrestricted operating surplus.

In the upcoming years, the Boyer administration says he wants to invest heavily in community centres, streets, parks, works to reduce overflows and other major infrastructure projects. “Those sums will allow us to do it with a reduced impact on indebtedness or the tax burden,” the administration explains.

Record Investments

In 2021, capital expenditures totaled $248.9 million, which is $40 million more than in 2019, the pre-pandemic year.

Laval had reached a historic high with achievements of $240 million in 2020, a spending growth the city justifies by the fact its prioritizing sustainable development in its public infrastructure investments.

Boyer is delighted with a 65.2 per cent achievement rate of the PTI, especially in a year marked by a labour shortage and material supply difficulties.

As for the gap with the record year of 2020, where Laval had achieved nearly 75 per cent of its investment budget, he also explains it by a “more ambitious PTI from year to year”.

Let’s remember that under Vaillancourt’s administration, Laval was achieving only 45 per cent of the investments projected at the PTI.

translated by Alec Brideau

L’article Laval Concludes 2021 with a Surplus of $38.2 Million est apparu en premier sur Courrier Laval news.