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Introduction of a Tax Credit for Experienced Workers 

A tax credit for experienced workers age 65 and over will be introduced as of the 2012 taxation year. This tax credit is designed to eliminate the income tax that such workers would have had to pay on a portion (up to a maximum of $10,000 when the credit is fully implemented) of their work income in excess of $5,000.

Determination of the tax credit

Individuals who live in Québec and are 65 years of age or over at the end of a particular taxation year (or on their date of death if they died in the year) will be able to deduct, in calculating their income tax otherwise payable for the year, an amount equal to the amount determined by the following formula:

Rate applicable for the year to the first taxable income bracket of the personal income tax table (16%) x Eligible amount of work income for the year (up to a maximum of $10,000 when the credit is fully implemented) x Amount by which 1 exceeds the rate used for the year to calculate the deduction for workers
(1 – 0.06)

The unused portion of the tax credit may not be carried over to another year or transferred to the individual’s spouse.

Eligible amount of work income

The expression “eligible amount of work income” of an individual for a particular taxation year means the amount by which the individual’s eligible work income for the year exceeds $5,000, to a maximum of

  • $3,000 if the particular taxation year is 2012;
  • $4,000 if the particular taxation year is  2013;
  • $5,000 if the particular taxation year is  2014;
  • $8,000 if the particular taxation year is  2015;
  • $10,000 if the particular taxation year is after 2015.

Eligible work income

An individual’s eligible work income for a particular taxation year will include the aggregate of the following amounts:

  • the salaries, wages and other remuneration, including gratuities, included by the individual in calculating his or her income for the year from any office or employment;
  • the amount by which the individual’s income for the year from any business he or she carries on, either alone or as a partner actively engaged in the business, exceeds the aggregate of his or her losses for the year from such businesses;
  • an amount included in calculating the individual’s income for the year under the Wage Earner Protection Program Act in respect of wages within the meaning of the Act;
  • an amount included in calculating the individual’s income for the year as an income supplement received under a project sponsored by a government or government agency in Canada to encourage an individual to obtain or keep employment, or to carry on a business either alone or as a partner actively engaged in the business;
  • an amount included in calculating the individual’s income for the year as a grant to carry on research or similar work.

However, an individual may not include the following amounts in calculating his or her eligible work income for a particular taxation year:

  • the amounts included in calculating the individual’s income for the year from an office or employment, if each of those amounts is the value of a benefit he or she received or enjoyed in the year because of a previous office or employment;
  • the amounts deducted in calculating the individual’s taxable income for the year.

For more details, refer to the 2011-2012 Budget Plan of the Ministère des Finances, page J.3.

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