A new refundable cost of living tax credit has been created to help taxpayers in Québec deal with the rising cost of living caused by constantly increasing inflation.
To be eligible to this credit you must fill all the conditions:
- To file your income tax return for 2021 by June 30, 2023
- Net income less than 104 000
- Have 18 years old and over
- Be resident of Quebec
- Have eligible residency status
The credit will be paid automatically, you do not need to claim it.
Amount of the credit
Net income for 2021 Amount of the credit
$50,000 or less $600
$50,000 to $54,000 $400 to $599.99 (reduced by 5% of your income over $50,000)
$54,000 to $100,000 $400
$100,000 to $104,000 $0 to $399.99 (reduced by 10% of your income over $100,000)
Note: Refundable tax credits are credits that will be paid to you if you are eligible.
