2024 Québec Income Tax Calculator
Plug in a few numbers and we’ll give you visibility into your tax bracket, marginal tax rate, average tax rate, and payroll tax deductions, along with an estimate of your tax refunds and taxes owed in 2024.
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Quebec Provincial and Federal tax brackets
Your taxable income places you in the following tax brackets.
| Canadian federal tax bracket | Canadian federal tax rate |
|---|---|
| $55,867 or less | 15.00% |
| $55,867 - $111,733 | 20.50% |
| $111,733 - $173,205 | 26.00% |
| $173,205 - $246,752 | 29.00% |
| More than $246,752 | 33.00% |
| Quebec tax bracket | Quebec tax rate |
|---|---|
| first $51,780 | 14% |
| over $51,780 up to $103,545 | 19% |
| over $103,545 up to $126,000 | 24% |
| over $126,000 | 25.75% |
The easiest way to calculate your net income would be to use an income tax calculator for Québec income. You might know this as a take home pay calculator, or salary calculator. Most calculators will allow you to choose any province, so just be sure that calculating Québec income tax is an option. You’ll be asked your employment income (including self-employment income), your RRSP contributions or deductions, and any other income gains you may have made in the year.
If you want to calculate your net income on your own, follow these steps:
You’ll need to consider all the reportable sources of income you have (employment, tips, wage loss subsidies, pensions, investments, etc.). If you’re a salaried or hourly employee, you won’t be able to use the amount that gets deposited into your bank account. You’ll need to use your full salary amount, or the year-to-date gross amount on your pay stub (which is your take home pay prior to any deductions of taxes, etc). If you work irregular hours, you’ll have to add up all your pay stubs to figure out your annual income. Also be sure to include any wage garnishments that may apply. Forgetting to include income can affect your marginal tax rate.
Once you know your annual gross income, you’ll need to subtract any deductions that apply. This includes any employment expenses you may have had: think union dues or benefits. In Québec, specifically, there’s the Québec Pension Plan (QPP) or the Québec Parental Insurance Plan (QPIP) to consider. You’ll also need to factor in your RRSP contributions.
This results in your net income—you can then go a step further and calculate your taxable income, from which you can calculate how much taxes you’ll owe and if you’ll receive a refund.
Figure out which tax bracket you’re in (federally and provincially with Revenu Québec). Tax brackets are also known as the marginal tax rates for federal and provincial taxes. These tax amounts are a percentage of your taxable income. Deduct the applicable tax amounts from your income. You’ll now know your after tax income.
There are many non-refundable tax credits available on a federal level, but also at a provincial one too. These credits won’t give you any money back if your tax payable is zero, but they will decrease your amount owing if you have one.
Employment income
Self-employment income
If you are self-employed, it’s possible that you don’t receive a paycheck. You’re responsible for keeping track of your income and paying taxes as well as any other deductions, on your own. There is no payroll tracking this for you. For this reason, it’s important to keep these amounts separate from any income you may have earned that would have CPP/QPP and EI deductions.
Capital gains
Most provinces have their own rates for which taxes on capital gains are calculated. Typically, capital gains are taxed at a lower rate than employment income. When you sell a capital property for more than the total of its adjusted cost base and the outlays and expenses incurred to sell the property, you are considered to have a capital gain. Capital property includes cottages, land, buildings, equipment used in a business or rental operations, and, most commonly, securities such as stocks, bonds, and units of a mutual fund trust.
Eligible dividends
Eligible dividends are dividends received from a Canadian corporation that has elected to provide eligible dividends. They are the profits you receive from your share of the ownership in a corporation. These dividends are grossed-up and then a dividend tax credit is applied to reflect the higher rate of corporate taxes paid.
Ineligible Dividends
Ineligible dividends, also known as small business dividends, are any dividends issued by a Canadian corporation, public or private, which are not eligible for the eligible dividend tax credit. Ineligible dividends don’t get the preferential treatment that eligible dividends get because these small corporations aren’t paying as many taxes.
Other income
Other types of income can be wage loss replacement contributions, research grants, royalties, employee profit sharing plans, and any other employment income not reported on a T4 slip.
RRSP deduction
Your RRSP contributions can be used as a deduction which can create savings on your tax return. It’s important to note that there is a limit to how much you can contribute to your RRSP. The limit is set by the salary you received the previous year.
Other incomes to understand in Quebec
What is interest income?
Interest income typically comes from bank accounts and will be listed on a T5 unless it is under $50. If you’ve gained interest income that was not reported on a T-Slip you are still responsible for including it on your tax return. Interest income can also come from Canada savings bonds (CSBs), treasury bills, earnings on a life insurance policy, and foreign interest and dividends.
What are passive incomes?
Passive income is income that comes from owning capital property or assets that generate income without excessive effort on the part of the earner. Most of the time, passive income is considered taxable income in Canada.
What other incomes are there?
Other income for Québec residents can include the following:
- Scholarships and bursaries
- Income supplement received under a government work-incentive project
- Refund of unused RRSP or PRPP/VRSP contributions
- Recovery of a deduction for contributions to a spousal RRSP
- Recovery of resource deductions
- Wage Earner Protection Program (WEPP) payments
- Recovery of deductions for the purchase of tools
- Withdrawals over the allowable amount from an RRSP under the Home Buyers' Plan (HBP) or the Lifelong Learning Plan (LLP)
- Canada Emergency Response Benefit (CERB)
- Canada Emergency Student Benefit (CESB)
- and Canada recovery benefits (CRB)
- Other income that is not report on a T4 or RL-1 or RL-2
Sources of income that are deemed to be “other income” are taxed at the same Québec tax rate as your employment income.
Understanding Quebec deductions & credits
CRA Contributions
The federal government offers many credits and deductions to all Canadians. It’s important to familiarize yourself with which benefits are available to you so that you can be educated about your finances and tax obligations.
Mortgage Interest
Mortgage interest is not something that is tax-deductible for most Canadians. There are no provincial credits or deductions for mortgage interest. At a federal level, you can claim your mortgage interest if the property in question is being used to generate income.
Charitable Donations
You can claim a tax credit based on the eligible amount of your gift to a CRA qualified donee. Eligible amount is the amount you’ve donated, minus any benefits you are entitled to in gratitude for your donation. This means, if you’ve received a gift for donating, you need to factor that into the amount you’ve donated. You can choose to claim part of the eligible amount of the donations you’ve made in a tax year and carry forward any unused part for up to 5 years.
Student Loan Interest
Students claim a tax credit if they (or a person related to them) paid interest on a student loan in Québec. Even if the tax credit is not being claimed in the current tax year, it’s to your advantage to include the amount of interest so that you can carry forward. This tax credit is non-refundable, meaning it will not create a refund and only reduce the amount of taxes you owe.
Child & Dependant Care Expense
Revenu Québec offers a childcare expenses tax credit for residents that meet the qualifications. The rate is based on your family income. Childcare expenses are not limited to daycare centres; you can also include expenses paid to a preschool education centre, nursery school, kindergarten, and camps—as long as they were not subsidized.
College Education Expense
You can claim a tax credit for your tuition or examination fees paid, provided they have not been previously used. You can transfer the unused portion of the tax credit to your or your spouse's father or mother; or your or your spouse's grandfather or grandmother.
Mental Health Credits
For mental health credits to apply, therapy has to be prescribed and supervised by one of the following practitioners: a psychologist, a medical doctor, or a nurse practitioner. In Canada, you can claim amounts paid for therapy as a medical expense. This also means that you are eligible for the disability tax credit (DTC). To qualify for the disability tax credit a medical practitioner has to certify that you have a severe and prolonged impairment and provide the effects of that impairment.
Other Deductions
In Québec, other deductions can include:
- deduction for a social benefits repayment
- deduction for amounts transferred to an RPP, an RRSP, a RRIF, a PRPP/VRSP or an annuity
- deduction for an amount already included in income (RRSP or RRIF)
- deduction for a refund of unused RRSP or PRPP/VRSP contributions
- disability supports deduction
- deduction for legal fees
- deduction for the purchase of an income-averaging annuity for artists
- deduction for a repayment of support
- deduction for a loss in the value of investments in an RRSP, a RRIF or a PRPP/VRSP
- deduction for the repayment of a QESI amount
- deduction for amounts transferred to a registered disability savings plan (RDSP)
Explore other provincial or territorial tax calculators
FAQs
In Quebec, you’ll be responsible for filing two returns: one for the CRA (federal) and the other for Revenu Quebec (provincial). The deadline for filing your personal income tax return is April 30, both with the CRA and Revenu Quebec. It’s important to note that any balance due must also be paid by April 30. If you or your spouse were self-employed, you have until June 15 to file your federal return. You’ll also have until June 15 to file your return in Quebec if you earned income as a family-type resource or intermediate resource.
Tax in Quebec is determined by the taxable income amount: $51,780 or less is taxed at 14%, more than $51,780 but not more than $103,545 is taxed at 19%, more than $103,545 but not more than $126,000 is taxed at 24% and amounts more than $126,000 is taxed at 25.75%.
It’s suggested you use a Quebec tax calculator to estimate the amount of taxes you will owe on your income. Tax calculators are a great tool to quickly estimate your federal and provincial taxes.
Your employers will withhold taxes, contributions and premiums from your salaries or wages. If you are self-employed, or earn rental income (for example, you own a rental building), you may have to remit your income tax, contributions and premiums in installments.
Although Quebec became the first province in Canada to introduce a carbon tax. The Quebec carbon tax mostly targets energy producers, such as oil companies. Currently, only residents of Ontario, Manitoba, Saskatchewan and Alberta are eligible for the federal rebate.
You should keep your tax records, including receipts, slips and any other supporting documents for at least six years. You may need to provide a copy of your return or proof of claims to the CRA for multiple reasons.
If you are to receive a refund more than $2 you should receive it within 14 working days if you file your tax return online. If you mailed your return, it can take up to six weeks to receive a refund. Revenu Quebec only begins processing returns in March, so you likely won’t receive a refund before April. As for receiving your federal refund, you may receive your refunds in 2 weeks if you filed online or in 8 weeks if you filed physically.
You’ll need to consider all reportable sources of income you have (employment, tips, wage loss subsidies, pensions, investments, etc.). You’ll need to use your full salary amount, or the year to date gross amount on your pay stub (which is your take home pay prior to any deductions of taxes, etc). If you work irregular hours, you’ll have to add up all your pay stubs to figure out your annual income. Also be sure to include any wage garnishments that may apply.
You can send your completed Revenu Quebec return to one of their addresses in Quebec City (3800, rue de Marly, C. P. 25555, succursale Terminus, Quebec (Quebec), G1A 1B9) or Montreal (C. P. 2500, succursale Place-Desjardins, Montreal (Quebec), H5B 1A3)
Capital gains have an inclusion rate of 50% in Canada, which means that you have to include 50% of your capital gains as income on your tax return. On the 50% of the gains, you’ll be taxed between 13.26% and 26.65%, depending on the amount of income you’ve earned over the course of the year.
The amount of taxes your employer(s) deduct from your paycheck is withholding tax. The amount depends on how much income you make. It is typically based on federal and provincial marginal tax rates. You can request that more or less tax be withheld.
Quebec marginal tax rate is another term for tax brackets. Tax in Quebec is determined by the taxable income amount:
- $49,275 or less is taxed at 14%,
- more than $49,275 but not more than $98,540 is taxed at 19%
- more than $98,540 but not more than $119,910 is taxed at 24%
- Amounts more than $119,910 is taxed at 25.75%.
Quebec’s tax brackets are:
- $49,275 or less (taxed at 14%)
- $49,275 - $98,540 (taxed at 19%)
- $98,540-$119,910 (taxed at 24%)
- $119,910+ (taxed at 25.75%)
Generally, there is no tax on the money you make from selling your home. This is the case if it was your principal residence every year since you purchased it. Specific tax obligations apply when you buy, sell, rent or renovate a house in Quebec. These taxes are usually due upon closing and are not related to your year tax return. If you’re thinking of buying a property, you can find out what the land transfer tax would be by using a Quebec property tax calculator. Additionally, you may be entitled to certain tax benefits, such as the home buyers’ tax credit if it’s your first time purchasing a home.
There are approximately 50 tax credits that Revenu Quebec offers. These credits relate to parents and future parents (including single-parent families), loss of independence, students and recent graduates, among others.