Questions tagged [quebec]

Quebec is a province in east-central Canada. It is the only Canadian province that has a predominantly French speaking population and French as the sole official language at the provincial level.

Filter by
Sorted by
Tagged with
1 vote
1 answer
48 views

In Quebec, for the personal basic amount, does the federal tax credit and the provincial tax credit add up?

E.g. if my income is 17000$, which is below the provincial basic (18056$) but above the federal one (maximum 15705$), do I pay taxes? Is it federal_tax = min(0, federal_income_tax - federal_BPA * ...
qwerty_99's user avatar
  • 159
1 vote
1 answer
78 views

If the highest federal tax rate is 33% and the highest provincial tax rate is 25.75%. why is the marginal tax rate 53% rather than 58.75% (Quebec)?

If I understand correctly, the total tax is basically the sum of federal taxes and provincial taxes, so for Quebec this should give a marginal tax rate of 58.75% (33% federal and 25.75% provincial). ...
qwerty_99's user avatar
  • 159
2 votes
1 answer
191 views

Are employer contributions to RRSP part of one's own contributions in tax forms?

Context: working for a company in Quebec (Canada) that matches RRSP contributions. When contributing to one's RRSP, the company contributes an additional amount on top (a percentage of the employee ...
Joan Rieu's user avatar
  • 131
3 votes
1 answer
102 views

How do I properly lend personal money to my own company in Quebec?

I want to finance my company with my personal money (to buy some stuff). What is the best way to do that in an accounting point of view?
Mehdi's user avatar
  • 141
0 votes
3 answers
436 views

All my investments goes through the same financial firm. Is that a bad idea?

In the past year, I invested $1k per week in a diversified portfolio through a financial firm. The money belongs to my incorporation. My goal is to invest as much as possible and never use it, ...
Jean-François Savard's user avatar
1 vote
0 answers
115 views

How to apply 1% rate reduction using GST/QST Quick method?

I use Quick method for calcualting GST/QST remittances: The Quick Method is a simplified accounting method designed to help registrants calculate the GST and QST they must remit to Revenu ...
Alexan's user avatar
  • 740
2 votes
1 answer
1k views

quick method of accounting in QuickBooks online

I use QuickBooks online for accounting. For collecting sales taxes I choose Quick method. But I don't know how I can use it in QuickBooks online. I found the following question on Quickbooks forum: ...
Alexan's user avatar
  • 740
1 vote
1 answer
494 views

Extra money - pay mortage or invest?

Our situation: Both 28 years old Both working full time with stable jobs No debts (no student loans, cars are paid, etc.) except a 80$/month 0% interest 2 years loan for home furnitures. Family ...
user avatar
5 votes
2 answers
311 views

Is DIY car repair work deductible in any way when self-employed?

I am self-employed and I am proficient at repairing vehicles. I use my vehicle exclusively for work: my customers ask me to drive to one of their customer's location and I provide a service on site. I ...
user65384's user avatar
3 votes
1 answer
158 views

When I stop driving for 2 years, should I put myself as a secondary on my mom's car to keep premiums low?

I live in Montreal, QC, Canada and I have little use for my car. I'd like to save money by getting rid of it and the expensive insurance. I've heard gaps in insurance history will lead to higher ...
Sophie McCarrell's user avatar
1 vote
1 answer
133 views

How does credit rating work in Canada?

I would like to understand how to model to evaluate if credit score is different in Canada from the USA. I just finished paying some debt on a 0% credit card and I have no more use of this card (and ...
Rémi's user avatar
  • 171
2 votes
2 answers
130 views

What is your effective tax rate if you work from home in Montreal for a company in Toronto?

What is your effective tax rate if you work from home in Montreal for a company in Toronto ? Does Quebec Tax abatement of 16.5% apply ?
Wizard Programming's user avatar
0 votes
1 answer
805 views

How do I charge GST & QST for my freelancing?

I'm based in Quebec and intend to offer freelance marketing consulting services. I intend to find clients from online freelancing websites such as Odesk. This means my clients could be from outside of ...
Anneka's user avatar
  • 1
6 votes
1 answer
403 views

In Quebec, what kind of financial assistance might be available to an unemployed single mother with kids?

My husband will be separating from me in a couple of months. I am unemployed and have two kids both under the age of 6. Is there a single mother's compensation? Especially in my situation where I am ...
Melanie's user avatar
  • 69
7 votes
1 answer
484 views

Capital gains taxes on share of inherited property?

I along with my cousins just sold some real property located in in Quebec that was inherited from our grandfather to our parents, and then to us. I received a 1/8 share of the proceeds which amounts ...
Elaine Gewirtz's user avatar
0 votes
1 answer
2k views

Box 56 - PPIP insurable earnings (RL

Another question about Quebec tax return: I have field: Box 56 - PPIP insurable earnings (RL-1 Box I) in T4 Slip Income (RL-1) and in T4 box 56 is empty, but in RL-1 Box I has value equals to all ...
Alexan's user avatar
  • 740
1 vote
2 answers
4k views

T4 and RL-1 (Employment Income)

I'm filling my tax return using ufile. For T4 and Employment Income they have two options: T4 and RL-1 (Relevé 1) income earned in Quebec T4 and RL-1 (Relevé 1) with CPP contributions What is ...
Alexan's user avatar
  • 740
3 votes
1 answer
297 views

When to apply for RRQ (Régie des rentes du Québec) benefits: earlier, age 65, or later?

My 60 yr old spouse just retired on RREGOP. Should she wait until she's 65 to take RRQ (Régie des rentes du Québec), or even 70, or should she take it now, early, at 60? I am semi retired myself. I ...
user9052's user avatar
0 votes
1 answer
440 views

Can I claim child care expenses as a deduction on my federal return in Quebec?

My friend want to claim Child Care expense for Federal Tax, but as she lived in Quebec, a large part of her children's day care fees are already returned by Quebec government. So could she still ...
user avatar
5 votes
1 answer
1k views

When is it necessary to apply taxes for web freelancing services in Quebec, Canada?

When is it necessary to apply taxes for web freelancing services in Quebec, Canada?
Alerty's user avatar
  • 103
5 votes
1 answer
739 views

Ontario HST rebate: I live in Quebec. Are the rebate cheques for Ontario residents only?

HST cheques are for Ontario residents only? Thought it was Canada. I live in Quebec. So we don't receive a cheque? But will have to pay the HST on all items purchased?
user avatar