It’s suggested you use a Quebec tax calculator to estimate the amount of taxes you will owe on your income. Tax calculators are a great tool to quickly estimate your federal and provincial taxes.

Tax in Quebec is determined by the taxable income amount: $51,780 or less is taxed at 14%, more than $51,780 but not more than $103,545 is taxed at 19%, more than $103,545 but not more than $126,000 is taxed at 24% and amounts more than $126,000 is taxed at 25.75%.

Generally, there is no tax on the money you make from selling your home. This is the case if it was your principal residence every year since you purchased it. Specific tax obligations apply when you buy, sell, rent or renovate a house in Quebec. These taxes are usually due upon closing and are not related to your year tax return. If you’re thinking of buying a property, you can find out what the land transfer tax would be by using a Quebec property tax calculator. Additionally, you may be entitled to certain tax benefits, such as the home buyers’ tax credit if it’s your first time purchasing a home.