Quebec to Give Eligible Residents Up to $600 to Help With Inflation

Quebecers who make less than $100,00 may get up to $600 to help them cope with high inflation, the provincial government announced today.

Those who make up to $50,000 will get the full $600. Those earning between $54,000 and $100,000 will be paid $400.

The amount will be reduced according to income earned in 2021 and for those with income between $50,000 and $54,000, the amount will be reduced using the formula: $600 − [5% × (individual net income for 2021 – $50,000)].

Those over $104,000 will receive no payment with the amount disbursed reduced from $400 for those earning above $100,000 using the formula: $400 − [10% × ((individual net income for 2021 – 100,000)].

One-time payment calculation in a nutshell:

If the individual’s individual net income for calendar year 2021 is less than or equal to $50,000: a fixed amount of $600;
If the individual’s individual net income for the 2021 calendar year is greater than $50 000, and up to or equal to $54,000: $600 − [5% × (individual net income of the individual for calendar year 2021 − $50,000)];
If the individual’s individual net income for the 2021 calendar year is greater than $54,000, and up to or equal to $100,000: a fixed amount of $400;
If the individual’s individual net income for the 2021 calendar year is greater than $100,000, and up to or equal to $104,000: $400 − [10% × (individual net income of the individual for the calendar year 2021 − $100,000)].

Those residents who have filed 2021 income taxes will receive the payment automatically as a direct deposit or by cheque from Revenue Québec.

The province says the non-taxable one-time amount will be paid by the end of 2022 to nearly 6.5 million eligible taxpayers.

Quebec taxpayers who have not yet filed their income tax return for 2021 will have until June 30, 2023, to be eligible.

Last March, the François Legault government gave a one-time payment of $500 to taxpayers earning less than $100,000. As per the news release, those who have not yet filed 2021 tax returns are also eligible for the $500 payment.

More Information is available here.