New Tax Credit Only Available by Direct Deposit - Get It Easily and Quickly With Québec's Best-Selling Tax Software

MONTREAL, Feb. 9 /CNW Telbec/ - Many Quebec families will soon enjoy a bigger bank balance, thanks to the new Solidarity Tax Credit created by Revenu Québec. This annual $1.4 Billion fund, which will benefit up to 2.5 million Quebecers, combines the QST Credit, Property Tax Refund and the Credit for Individuals Living in Northern Villages. This year's combined credit has increased in value by $510 million. But only those who've signed up for direct deposit will have access to the new credit. TurboTax has been updated with step-by-step guidance to help taxpayers maximize their Solidarity Tax Credit and easily set up direct deposit with their financial institution.

During the March 30, 2010 Budget Speech, Mr. Raymond Bachand, Québec Finance Minister, announced the creation of a refundable tax credit for solidarity, "designed to protect the buying power of low and medium income households." This new tax credit, which is still in consultations, "will benefit 200,000 more households than the existing tax credits and each household will receive $174 more on average per year. It will be paid monthly starting July 2011, which will help those households with their cash flow."

The Solidarity Tax Credit is a refundable tax credit, which means qualifying taxpayers will receive it even if they don't owe income tax - but they must have a bank account at a financial institution in Québec and be registered for direct deposit with Revenu Québec. While one million Québec residents currently use direct deposit, a full 1.7 million eligible taxpayers are still not taking advantage of the time- and paper-saving program, and they're at risk of missing out on the Solidarity Tax Credit.

The Solidarity Tax Credit amount does vary with changes in personal tax situations, and it's the taxpayer's responsibility to advise Revenu Québec of changes in their tax situation that could impact the amount of the tax credit they are entitled to, and to do so before the end of the month following the date the change takes place.

TurboTax Helps Québec Residents Get Their Share

TurboTax, Québec's best selling tax preparation software for more than a decade, makes it easy for Quebecers to register and get their Solidarity Tax Credit payments. TurboTax lets users know whether or not they`re eligible for the Solidarity Tax Credit, does all the calculations, and shows them how much they're entitled to receive.

"TurboTax guides users step-by-step through their return, identifies every possible deduction they're entitled to, and has expert help available at every point in the process," said Stone de Souza, Senior Marketing Manager at Intuit in Montreal.  "Plus the new GPS-like guidance in TurboTax literally maps out a customer`s return from start to finish, so even new users will always be confident they're maximizing their full refund as they claim their Solidarity Tax Credit."

Quebecers can try TurboTax Online for free and see how easy it is to claim the Solidarity Tax Credit, and register for direct deposit They only pay when they`re completely satisfied, and ready to file.

Visit us for more information:
Online: www.turbotax.intuit.ca
Twitter: @turbotaxcanada
Facebook: www.facebook.com/TurboTaxCanada

About Intuit Canada

Intuit Canada ULC is a leading provider of business, financial and tax management solutions for small- and mid-sized businesses, consumers and accounting professionals. Its flagship products and services, including Quicken®, QuickBooks®, QuickBooks® Enterprise Solutions, SuccèsPME, TurboTax, and TurboTaxMC, simplify personal finance, business accounting, and tax preparation and filing. Additional offerings include ProFile®, a professional tax preparation software suite, the QuickBooks ProAdvisor Program and the Intuit Developer Network for professional users and developers. All are provided by Intuit Canada or through its partners.

Intuit Canada has employees located in Edmonton, Mississauga, Calgary, and Montreal. Intuit Canada is an affiliate of Intuit Inc., which is listed on the Nasdaq stock market under the symbol INTU. More information can be found at www.intuit.ca.