Published | Category : Income tax - businesses

Tax Credit Relating to Resources: Increased Rates

There has been a 25% increase in the rates of the refundable tax credit relating to resources that qualified corporations can claim in respect of eligible expenses related to mineral resources that were incurred in the Near North or the Far North of Québec. Thus, the tax credit has been increased from 31% to 38.75% for a corporation that does not operate a mineral resource and is not a member of an associated group having a member who operates such a resource. The tax credit has been increased from 15% to 18.75% for other corporations.

The increased rates of the refundable tax credit relating to resources apply in respect of eligible expenses incurred after March 17, 2016.

For more information, see pages A.67 and A.68 of the document entitled Additional Information 2016-2017 (PDF – 2.88 MB), published by the Ministère des Finances.

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