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It’s time to file your income tax return! Here is a checklist of the main amounts, credits and deductions offered by the two levels of government, and some other information.

Access the checklist

Changes in your taxes

Certain measures have been improved over the past two years, to the satisfaction of Réseau FADOQ, which was advocating for this.

Senior Assistance Tax Credit

Since the implementation of this tax measure, Réseau FADOQ has been pressing the Quebec government to increase the amounts granted. Now, as a result of the December 2022 budget update, the amounts associated with this tax measure have been increased.

For 2023, a single person will receive the maximum amount available of $2,000 up to a family income of $25,755, while a couple of seniors aged 70 or older will receive the maximum of $4,000 up to a family income of $41,885.

Tax Credit for Home-Support Services for Seniors

The Réseau FADOQ requested that the reimbursement of eligible expenses through this tax credit be increased from 35% to 40%. As a result, beginning with the 2022 tax year, the tax credit rate will increase by 1% per year until 2026, when it will be 40%.

Shelter Allowance Program

The shelter allowance program is for low-income individuals and families who spend too much of their budget on housing. It is open to homeowners, tenants and boarders. For the period from October 1, 2022, to September 30, 2023, the program provides $100, $150 or $170 in financial assistance per month.

Selling a property

If you sell your house or residential complex, you generally have to report a capital gain or loss on the sale. In general, half (50%) of a capital gain on the sale of your house is taxable. However, a capital loss is not deductible.

Under certain conditions, you can designate all or part of the house or residential complex sold as your principal residence. Designating a property as your principal residence allows you to avoid paying taxes on all or part of the capital gains.

This exemption will lessen your tax load and help you build wealth. To claim this tax exemption, you must complete form TP-274-V, Designation of Property as a Principal Residence, and include it with your income tax return for the year of sale.

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The main sources of income in retirement

Sources of income

• Additional retirement pension plans
• Québec Pension Plan
• Registered Retirement Savings Plan (RRSP)
• Registered Retirement Income Fund (RRIF)
• Old Age Security (OAS)
• Guaranteed Income Supplement (GIS), if you are eligible
• If you worked in another province, you have access to the Canada Pension Plan retirement pension

In addition, you must consider as income all amounts received as severance pay and lump sum payments when you withdraw money from a pension plan.

Your obligations

• Instalment payments:
  Pay instalments, if requested, to reduce your tax liability.
• Contribution to the Québec Drug Insurance Plan:
  You MUST enroll in the public plan and pay the premium if you do not have private insurance.
•  Withholding taxes:
  The amount of the withholding tax may be reduced, depending on the tax deductions you are entitled to.
•  Snowbirds:
  Complete the T1248 form. Information about your residency status (Schedule D).

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Useful contact information

Federal

• International Social Security Agreements | 1 800 454-8731
• Old Age Security (OAS), Allowance for the Survivor, Canada Pension Plan (CPP) Retirement Pension, Guaranteed Income Supplement (GIS), Allowance Program | 1-800-277-9915
• Service Canada | 1 800 959-7383 | Website
• Tax information for seniors | Website

Provincial

• Québec Pension Plan Retirement Pension, Quebec Pension Plan Survivor Benefits | 1 800 463-5185
• Revenu Québec | Website
  Québec City area: 418 659-6299
  Greater Montréal: 514 864-6299

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Need Help?

If you don’t know whether you are taking advantage of all the tax benefits you are entitled to, consult a professional or use the Volunteer Income Tax Assistance Service, offered free of charge by some community organizations. For more information, contact the volunteer action centre nearest you.
Find your nearest volunteer action centre (only in french)

Many regional and local branches of the financial and consumer education group known as ACEF (Associations coopératives d’économie familiale) organize tax clinics for seniors.
Find the ACEF nearest you (only in french)

If you do not qualify for this service, don’t hesitate to contact a professional.

Réseau FADOQ also offers a discount on the UFile tax program.
Find out more about this discount

Updated article and info sheet: February 2024.

Source : Réseau FADOQ