New Rule for Payments Over $10,000
As of January 1, 2024, individuals, corporations, partnerships and trusts must make payments of more than $10,000 to Revenu Québec electronically (for example, online or through a financial institution), unless electronic payment is impossible due to special circumstances.
This rule applies to payments of income tax, source deductions (including employer contributions) and instalment payments. Failure to comply may result in a penalty.
This new rule also applies to GST/HST and QST registrants. For more information, see the Tax News article entitled New Requirements for Paying Consumption Taxes and Filing Consumption Tax Returns Electronically.