Top 2013 Quebec marginal rates
As a result of the October 10, 2012 announcement the new top marginal tax rates for 2013 will be as follows, providing it passes through Quebec’s minority Parliament:
- Regular income — 49.97% (from 48.22% in 2012)
- Capital gains — 24.99% (from 24.11 in 2012)
- Eligible dividends — 35.20% (from 32.81% in 2012)
- Non-eligible dividends — 38.54% (from 36.35% in 2012).
As part of the PQ’s tax plan for 2013 it will introduce a new progressive health tax contribution. Under the new regime, taxpayers earning more than $150,000 will pay the maximum health tax premium of $1,000 per year (up from $200 per head). Taxpayers whose income is from $130,000 to $150,000 will pay from $200 to $999 and, for taxpayers whose income is between $42,000 and $130,000, the premium will remain unchanged at $200.
For more information, contact your KPMG adviser.
Information is current to October 16, 2012. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG’s National Tax Centre at 416.777.8500.