Disposable income 2023 and 2024

Since January 1, 2024, taxpayers can benefit from a 5.08% indexation of the personal income tax system and social assistance benefits. This significant indexation is in addition to the tax cut announced in the 2023‑2024 budget.

Use the calculator to find out how much you could receive after tax, depending on your family situation.

Increasing Quebecers’ disposable income

Indexing the personal income tax system

Since January 1, 2024, taxpayers can benefit from a 5.08% indexation of the personal income tax system and social assistance benefits. This indexation will notably increase the amounts of several deductions and tax credits.

In concrete terms, the indexation represents $2 billion a year for the benefit of all Quebecers.

Lower personal income tax as of 2023

Starting with the 2023 taxation year, the two bottom tax rates of the tax table have been reduced by 1 percentage point, namely:

from 15% to 14% for the rate of the first tax bracket, which covers the first $49 275 of income in 2023;
from 20% to 19% for the rate of the second tax bracket, which covers income over $49 275, but not exceeding $98 540 in 2023.

In 2023, the tax cut could reach $814 for a person living alone and $1 627 for a couple.

Example

In 2024, a person living alone with an income of $50 000 will see their disposable income increase by $568 compared to 2023, thanks in particular to the indexation of the Québec ($382) and federal ($222) tax systems. At the same time, their various contributions will increase by $35.

Note that this individual benefits from a tax cut of $308 in 2023 and $294 in 2024.

Warning

Roles and limits of the calculator

The calculator enables you to estimate the assistance to which you may be entitled. The calculations are based on certain assumptions intended to reflect the most common situations. The exact amounts will be determined by the departments and bodies responsible for the assistance.

Note that in the calculation details, the numbers preceded by a negative sign (–) correspond to the amounts you theoretically have to pay in taxes or for certain contributions.

Assumptions used

For disposable income

The situation of the household, the age of the children and income do not change between the periods shown.
Households may report only work income or retirement income.
The calculator does not take into account all income, deductions and tax credits.
Income entered in the calculator can be up to $250 000 per spouse.

For childcare expenses

Only one type of childcare service may be selected for any one child.
Select the “Non‑subsidized” option if the child attends a regular‑rate childcare service, such as a non‑subsidized private childcare service.
Select the “Subsidized” option if the child attends a reduced‑contribution childcare service such as a childcare centre (CPE), a subsidized private childcare service or a subsidized home childcare service.
If subsidized childcare is selected, childcare expenses are eligible only for the federal childcare expenses deduction.
Childcare expenses entered cannot exceed $15 000 per child.

Other assumptions

No individual is another individual’s dependent.
All households contribute to the Québec Prescription Drug Insurance Plan. The annual premium paid in the year is eligible for the refundable and non‑refundable tax credits for medical expenses under the Québec and federal plans.
- These are the only medical expenses included in these tax credits.
The parameters for the solidarity tax credit, Family allowance, Canada Child Benefit and GST credit are those in effect in July of the corresponding year.
For the purpose of calculating the Shelter Allowance, a shelter cost is charged to the individual. This cost is equivalent to the average rent in Québec in October 2022 as published by the Canada Mortgage and Housing Corporation’s Housing Market Information Portal.
- The parameters of the Shelter Allowance are those in effect in October of the previous year.

Updated February 8, 2024