Quebec’s 2024 source deduction formulas, including the Canadian province’s income tax and social taxes, were released Nov. 20 by Revenu Quebec.
The income tax rates did not change after retroactively being adjusted effective Jan. 1, 2023, but the tax brackets were adjusted, RQ said in the 2024 Formulas to Calculate Source Deductions and Contributions.
Like the Canada Pension Plan, additional 4% employee and employer contributions to the Quebec Pension Plan take effect Jan. 1, 2024. The extra contributions are made on wages above the maximum pensionable earnings of C$68,500 (US$50,003.97) and up to the second earnings ceiling of C$73,200. ...
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