Published | Category : Source deductions and contributions

Temporary Maintenance of the Increased Rate of the Tax Credit for the Acquisition of Shares in Fondaction

In the Budget Speech delivered on March 17, 2016, the Minister of Finance of Québec announced that the rate of the tax credit would be maintained at 20% for any eligible share acquired after May 31, 2016, and before June 1, 2018. Accordingly, for 2017, if an employee has authorized you to withhold an amount from his or her pay for the purchase of shares issued by Fondaction, you must use the 20% rate to calculate the amount of income tax to withhold.

If you use the source deduction table to determine the amount of income tax to withhold, you must, for any pay period during which Fondaction shares were purchased, subtract, from the remuneration paid to the employee, 100% of the amount deducted from the employee's remuneration for the purchase of such shares.

If you use the formulas, you must, for any pay period during which Fondaction shares were purchased, subtract, from the income tax payable for the year, 20% of the amount deducted from the employee's remuneration for the purchase of such shares.

Fair. For all.

One vision. Concrete actions.

Read all about how we work to support and inform you. Our vision and values guide us as we carry out our role.

Veuillez patienter