Last week we looked at some of the federal personal income tax changes for the 2022 tax year. Here we look at some of the changes affecting Quebec taxpayers.
The Basic Personal Amount, the amount of income on which Quebec taxpayers pay no tax, has been increased to $16,143.
For 2022, the maximum deduction for employment income is 6% to a new maximum of $1,315.
Changes to the Senior Assistance Tax Credit - Beginning in the 2022 taxation year, the maximum tax credit for an eligible senior age 70 or over without a spouse has been increased to $2,000. For a couple where both partners are eligible seniors, the maximum tax credit is $4,000. Tax credit payments will begin in spring 2023, once your income tax return for 2022 has been processed. If your family income for 2022 is equal to or greater than the applicable maximum in the table below, you are not eligible for the tax credit.
The new income tax rates are:
Tax Brackets | Rate |
$46,295 or less | 15% |
More than $46,295 but not more than $92,580 | 20% |
More than $92,580 but not more than $112,655 | 24% |
More than $112,655 | 25.75% |
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