Revenu Quebec February 24: E‑Filing Opens, New Foreign Asset Rules
Revenu Quebec has opened ImpôtNet, launching Quebec tax season 2026 for returns on 2025 income. Individuals must file by April 30, while self‑employed filers have until June 15. A new provincial rule requires residents to declare foreign assets totaling $100,000 CAD or more, similar to the federal T1135. Indexed brackets and credit updates also matter this year, especially for investors and retirees. We explain what changed, what to prepare, and how to avoid penalties as you e‑file with ImpôtNet Quebec.
E‑Filing Opens: Key Dates and What to Prepare
Revenu Quebec confirms filing due dates for 2026: April 30 for most individuals and June 15 for the self‑employed, with any balance still due April 30. Missing these dates can trigger penalties and interest. See a clear overview of deadlines in this Quebec report from TVA Nouvelles source. File early to fix slips, avoid system queues, and set up direct deposit.
Collect RL and T slips before using ImpôtNet Quebec. Investors should have RL‑3, T5, T3, T5008, and broker gain/loss reports. Employees and retirees need RL‑1 and RL‑2. Add RRIF or pension statements, tuition or childcare receipts, and donation receipts. Keep SINs and prior NOA handy. A complete set of slips reduces reassessments and speeds refunds with Revenu Quebec.
Revenu Quebec’s ImpôtNet supports certified software that transmits your return securely. Update your address and direct deposit in My Account first. Validate names, SINs, and RL slip numbers exactly as shown. Use software diagnostics to catch missing slips. Save a PDF copy and the confirmation number after e‑file. If you owe, schedule online payment on or before April 30 to limit interest.
New Provincial Foreign Asset Reporting ($100,000+)
Quebec residents now face a provincial disclosure for certain foreign assets when the total cost is $100,000 CAD or more at any time in the year. This targets assets held outside Canada, such as non‑registered financial accounts or property interests. If you are close to the threshold, maintain clear records. When unsure, document holdings and seek guidance before filing with Revenu Quebec.
Revenu Quebec indicates the new requirement mirrors the federal T1135 framework, including the $100,000 CAD cost‑based threshold. Expect a focus on specified foreign property and consistent recordkeeping. A Quebec consumer finance brief outlines what is new for filers this season source. Keep statements, cost details, and ownership documents ready in case Revenu Quebec requests support.
Make an inventory of foreign holdings, note each asset’s cost in Canadian dollars, and keep account identifiers and year‑end statements. Revenu Quebec warns of significant penalties for late, incomplete, or missing disclosures. File on time, answer all questions in your software, and retain backup for six years. Complex structures or cross‑border trusts call for advice from a qualified tax professional.
Indexed Brackets and Credit Changes Affecting Investors
Quebec has indexed tax brackets and several credits for 2025 income, filed in Quebec tax season 2026. Indexation helps reduce bracket creep, leaving more after‑tax dollars for investors. Review expected interest, dividends, and capital gains in your non‑registered accounts. If your income moved to a lower marginal band, estimated instalments or withholdings may need an update with Revenu Quebec.
Changes to key credits can shift your net tax. Review the basic personal amount, age amount, pension income credits, and solidarity‑related components. Confirm RL slips reflect the right amounts and names match your return. Dividend and trust income appear on RL‑3 and federal slips, so align totals. These small checks help avoid reassessments from Revenu Quebec.
Match realized gains with available capital losses on your broker report and keep worksheets for carryforwards. Retirees can review pension splitting options and check RRIF withholdings for accuracy. If you hold foreign securities, ensure amounts are converted to CAD consistently and documented. Good records support accurate e‑filing with ImpôtNet Quebec and faster processing by Revenu Quebec.
Final Thoughts
Revenu Quebec has kicked off Quebec tax season 2026 with ImpôtNet now live, firm filing dates, and a fresh focus on cross‑border assets. Start by confirming your deadline, gathering all RL and T slips, and updating My Account and direct deposit. Investors should reconcile broker summaries with RL‑3, T5, T3, and T5008, then review bracket indexation and credit updates that may lower tax. If you own foreign assets, prepare a clear inventory, verify if you cross the $100,000 CAD threshold, and keep proof of cost and ownership. E‑file early to avoid last‑minute issues, keep your confirmation number, and schedule payment by April 30 if you owe. Solid records and timely filing help minimize penalties and speed refunds with Revenu Quebec.
FAQs
What are the key Quebec tax deadlines in 2026?
For most individuals, the filing deadline is April 30, 2026. Self‑employed individuals, and their spouses, can file until June 15, 2026, but any balance owing is still due April 30. Filing and paying on time helps avoid penalties and interest from Revenu Quebec.
What is the new foreign asset reporting Quebec rule?
Quebec now requires residents to disclose certain foreign assets when the total cost reaches $100,000 CAD or more at any point in the year. It mirrors the federal T1135 framework. Keep detailed records, confirm your totals in Canadian dollars, and file on time to avoid penalties.
Do registered accounts count toward the $100,000 CAD threshold?
The federal T1135 excludes assets held in registered plans. Quebec indicates its approach mirrors the federal model, but you should confirm coverage with Revenu Quebec or a qualified tax advisor for your situation. When in doubt, maintain records and seek guidance before you file.
Which slips do Quebec investors and retirees need to file?
Common slips include RL‑1 for employment, RL‑2 for retirement income, RL‑3 for investment income, plus federal T5, T3, and T5008 for trading. Also gather broker gain/loss reports, RRIF or pension statements, and donation or tuition receipts. Match names and amounts exactly on your return.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.