ARCHIVED CD 2006-037: Information Notices to Employees
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Quebec Personal Tax Credits and Deductions 2007 Taxation Year
The purpose of this notice is to provide you with the Quebec personal tax credits and deductions for the 2007 taxation year.
The "ministère du Revenu du Québec" (MRQ) has announced the changes to the personal tax credit and deduction amounts for the 2007 taxation year. The Source Deductions Return 2007, form TP-1015.3-V (2007-01), includes the changes to the following tax credits and deduction amounts:
- The basic amount will be increased from $9,555 to $9,750.
- The amount transferred from one spouse to the other will be increased from $9,555 to $9,750.
- The basic amount for children enrolled in post-secondary studies will be increased from $2,650 to $2,705.
- An additional amount for the child designated as the first dependant child will be increased from $225 to $230 only if the child is 18 years of age and over and if the individual claiming this amount does not have any children under 18 years of age.
- The amount for the single-parent family will be increased from $1,435 to $1,465.
- The amount for each dependant child engaged in full-time vocational training or in post-secondary studies will be increased from $1,825 to $1,860.
- The basic amount for every other dependant will be increased from $2,650 to $2,705.
- The amount for a person living alone will be increased from $1,155 to $1,180.
- The reduction threshold used to calculate net family income (this income is used to calculate the amount with respect to age, for a person living alone or for retirement income) will be increased from $28,710 to $29,290.
- The amount for a severe and prolonged impairment in mental or physical functions will be increased from $2,250 to $2,295.
If you had claimed any of the above credits in the past, you are encouraged to complete a new TP-1015.3-V (2007-01) form.
For additional information, please contact the MRQ. A list of the MRQ offices can be found at the following Internet address: Revenu Québec.
Your tax credit amounts will be adjusted automatically in the Regional Pay System (RPS) if you are an employee who is claiming the basic amount only, or the basic amount and the amount transferred from one spouse to the other. If you are not claiming any tax credits or reductions, there will be no adjustment. For employees claiming any other tax credit and reduction amounts, the total of your tax credits and reductions will automatically be increased by an amount of $195. If you feel that your source deductions do not properly reflect your present personal tax situation, you should file a new Source Deductions Return, form TP-1015.3-V (2007-01). This form is available at the offices of the MRQ or on the Internet at the following address: TP-1015.3-V.
Any request for information regarding the content of this document should be addressed to your compensation advisor.
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