As announced in the budget speech of March 22, 2022, a new one-time refundable tax credit has been created to help individuals deal with the rising cost of living. It will be paid out to eligible individuals who file an income tax return for 2021 and whose net income for the year is less than $105,000.

Eligibility is based on your situation on December 31, 2021. To be eligible, you must have been 18 or over, been resident in Québec and had an eligible residency status.

Amount of the credit

If your net income for 2021 was $100,000 or less, you will receive a $500 tax credit.

If your net income for 2021 was between $100,000 and $105,000, the $500 will be reduced by 10% of the part of your net income that exceeds $100,000.

Payment of the credit

If you are eligible, the new credit will be paid out automatically when we process your 2021 income tax return. You do not have to claim it. If you have already filed your return, you will receive the credit by the end of May 2022.

For more information on the new credit, click Special One-Time Cost of Living Tax Credit or see the Additional Information on the 2022-2023 budget on the Ministère des Finances website.