Published | Category : Income tax - businesses
Extension of the Tax Credit to Support the Digital Transformation of Print Media Companies
As announced in information bulletin 2019-9, the Ministère des Finances has extended the tax credit to support the digital transformation of print media companies for one year.
The tax credit is intended mainly for eligible corporations that hold a qualification certificate issued by Investissement Québec for a taxation year. The qualification certificate must certify that the corporation produced and disseminated a print or digital information media including original written information content in that taxation year.
The tax credit is equal to 35% of the eligible digital conversion costs that the corporation incurred for the taxation year. The costs cannot exceed $20 million for the year.
The eligible digital conversation costs must be incurred after March 27, 2018, but before January 1, 2024, except if they concern qualified property acquired under an eligible digital conversion contract. In this case, the qualified property must be acquired before January 1, 2023.