Published | Category: Income tax - individuals

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New Tax Credit for the Restoration of Secondary Residences Damaged by Flooding that Occurred in Québec Municipalities from April 5 to May 16, 2017

On May 17, 2017, a new refundable tax credit for the restoration of secondary residences (cottages) damaged by the severe flooding that hit a number of Québec municipalities from April 5 to May 16, 2017, was announced.

This tax credit, which may be up to $18,000, is intended for individuals who have a contractor carry out post-disaster clean-up work, preservation work or repair work necessary to restore a site to its former state.

Individuals will be able to, under certain conditions, apply for advance payments of the tax credit. An application form will soon be available.

For more information, refer to Information Bulletin 2017-7 published by the Ministère des Finances du Québec or contact us.

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