This text was written by Ghislain BrissetteADM.A, TEP, specialist in estate planning, death tax and inheritance.
Quebec Pension Board (RRQ)
The pension will be increased by 2.6%.
For employees:
- The maximum contribution will be $4,540.
- The maximum salary to reach this cap is $78,000.
For self-employed workers:
- They will have to contribute both the employee part and the employer part, therefore twice as much as employees.
Employment insurance
The contribution rate will be 1.64%.
The maximum salary eligible for employment insurance will be $65,700.
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Quebec parental insurance plan (RQAP)
The contribution rate will be 0.494% (the same as that of 2024).
The maximum salary eligible for the QPIP will be $98,000.
Basic personal amount
In Quebec, the first $18,571 is not taxed.
Tax credits
All credits are indexed this year by 2.85%.
Tax brackets
The first level, taxed at 14%, goes up to $53,225.
The second level, taxed at 19%, goes up to $106,495.
The third, taxed at 24%, goes up to $129,590.
The final level, for any income above $129,590, is taxed at 25.75%.
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Contributions to the Registered Retirement Savings Plan (RRSP)
The maximum RRSP contributions for 2025 is $32,490.
The contribution deadline to obtain the tax deduction for the year 2024 is 1is mars 2025.
Contributions to the Tax-Free Savings Account (TFSA)
The TFSA contribution room in 2025 will be $7,000, the same amount as in 2024.
A person who has never contributed to their TFSA until now and who was eligible when this plan was launched in 2009 will have cumulative contribution room of $102,000 in 2025.
Contributions to the Registered Education Savings Plan (RESP)
The maximum amount of contributions is $5,000 per year and $50,000 for life.
For new contributions:
- The first $2,500 entitles you to a subsidy of at least 20% from the federal government and at least 10% from Quebec.
- It is possible to contribute up to $2,500 more during the same year (therefore up to a total of $5,000) to recover grants from previous years.
- Subsidies can only be recovered one year at a time.
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Tax credit for career extension
Workers aged 61 to 64 will no longer have access to this credit this year.
It will be reserved for those who will be at least 65 years old by December 31, 2025.
To watch in 2025
The Quebec government’s budget: many changes could be announced to reduce the $11 billion deficit announced in last year’s budget.
