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FAQ: Special One-Time Cost of Living Tax Credit

This page contains answers to common questions about the new special one-time cost of living tax credit. We hope they give you the information you need.

I filed my income tax return before the budget speech. Do I have to file it again?

No. If you have already filed your income tax return and received your notice of assessment, you will get the credit by the end of May (if you are eligible).

If you have already filed your income tax return for the 2021 taxation year but have not received your notice of assessment, we will check whether you are eligible and calculate your credit (if applicable) when we process your return.

I will be filing my income tax return soon. Will the paper forms and software be adjusted so that I can claim the tax credit?

No. Since you do not have to claim the new tax credit, no changes to the paper forms or software are needed. We will check whether you are eligible and calculate your credit (if applicable) when we process your return.

When will Revenu Québec process my income tax return again so I can get the tax credit?

If you have already filed your income tax return and received your notice of assessment, we will process your return again and pay you the credit (if you are eligible) by the end of May.

I'm doing my taxes right now. How do I claim the tax credit?

You do not have to claim the new tax credit. If you are eligible, you will get it automatically when we process your return. 

What if I have a balance due in my income tax return?

If you have a balance due, your tax credit will be used to pay all or part of it.

I'm doing my taxes and I have a balance due. Can I subtract $500 from it?

No. You have to pay the balance due in full. We will check whether you are eligible and calculate your credit (if applicable) when we process your return. If you are eligible, your tax credit will be applied to your income tax for 2021 and then to anything you owe the Québec government. Any remaining part of the tax credit will be paid to you afterward.

I've received my notice of assessment showing the amount I owe. Can I subtract $500 from the balance due?

No. You have to pay the balance due in full. We will check whether you are eligible and calculate your credit (if applicable) when we process your return. If you are eligible, your tax credit will be applied to your income tax for 2021 and then to anything you owe the Québec government. Any remaining part of the tax credit will be paid to you afterward. 

I mailed a cheque with my income tax return early in March. Will Revenu Québec cash it?

Yes. However, if you have not received your notice of assessment, we will check whether you are eligible and calculate your credit (if applicable) when we process your return. 

What if I owe the government money?

Under the Tax Administration Act, we can apply your credit to the payment of any amount you may owe the government.

Is the tax credit taxable?

No. It is a tax credit and therefore not taxable.

Does my spouse's income affect the amount of my tax credit?

No. The tax credit will be paid out to all eligible taxpayers with a net income of less than $105,000.

Will I get the tax credit or will my spouse?

The tax credit will be paid out to all eligible taxpayers with a net income of less than $105,000. If you and your spouse are both eligible, you will each get a credit based on your respective net income.

What is the deadline for filing my income tax return for 2021 if I want to get the tax credit?

There is no deadline for eligibility. Generally speaking, the credit will be paid out to all eligible individuals who file a return for 2021, regardless of when they file it.

I declared bankruptcy in 2021. Can I still get the tax credit?

Yes. You may be eligible even if you declared bankruptcy in 2021.

Didn't find what you were looking for? Click Special One-Time Cost of Living Tax Credit or contact us.

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