Published | Category : Income tax - businesses

A Higher Logging Tax Exemption

Under Québec fiscal legislation, a taxpayer that is a corporation or an individual, including a trust, is required to pay income tax for a taxation year equal to 10% of:

  • the taxpayer's income from logging operations for the year; and 
  • the taxpayer's share in the income of a partnership carrying on logging operations of which the taxpayer is a member, for the partnership's fiscal period that ends in the year.

Previously, a taxpayer was not required to pay the logging tax for a taxation year if:

  • the taxpayer's income from logging operations was $10,000 or less for the year; or
  • the taxpayer's share in the income of a partnership carrying on logging operations of which the taxpayer is a member was $10,000 or less for the partnership's fiscal period that ends in the year.

However, on March 17, 2016, the logging tax exemption was raised from $10,000 to $65,000 for a taxation year of a taxpayer beginning after that date.

For more information, see page A.99 of the document entitled Additional Information 2016-2017 (PDF – 2.88 MB), published by the Ministère des Finances.

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