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Published | Category : Income tax - businesses

Tax Credit Relating to Information Technologies in Small and Medium-Sized Manufacturing Businesses – Changes

Since June 4, 2014, Investissement Québec has not been able to accept applications for a certificate in connection with an information technology (IT) integration contract for purposes of the above-mentioned tax credit (referred to in the Budget Speech as the refundable tax credit for the integration of IT in manufacturing SMBs). The Act respecting the sectoral parameters of certain fiscal measures will be amended so that Investissement Québec can accept such applications filed after March 26, 2015, and before January 1, 2020.

Two-year extension of the tax credit

Tax legislation will be amended to extend for two years the tax credit relating to information technologies in small and medium-sized manufacturing businesses.

Reduction of the level of assistance

Furthermore, the tax credit rate, for a taxation year, will be 20% for a qualified corporation whose paid-up capital for the year is $15 million or less. The rate will be reduced linearly and reach zero for any qualified corporation whose paid-up capital for the year is $20 million or more.

Eligibility of primary sector corporations

In addition, tax legislation will be amended so that the term "qualified manufacturing or private sector corporation" means, for a taxation year, a qualified corporation whose proportion of manufacturing or processing activities and primary sector activities for the taxation year is more than 50%.

Activities attributable to agriculture, forestry, fishing, hunting, mining, quarrying, and oil and gas extraction will be considered primary sector activities.

Effective date

These amendments will apply to expenditures relating to the supply of a qualified management software package that are incurred after March 26, 2015, and before January 1, 2020, under an IT integration contract the negotiation of which began after March 26, 2015, and before January 1, 2020, and in respect of which Investissement Québec has issued a certificate.

For more information, see pages A.53 to A.56 of the document entitled Additional Information 2015-2016 (PDF – 1.96 MB), published by the Ministère des Finances.

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