grant_single_labels|summary

grant_single|eligibleFinancing
  • grant_single|projectCostPercent
grant_single|deadlines
  • grant_single|timelineUnspecified
grant_single|financingType
Tax Credits
grant_single|eligibleIndustries
  • grant_single|allIndustries
grant_single|grantors
  • Revenu Québec
grant_single|status
grant_card_status|open

grant_single_labels|preview

The Quebec Investment and Innovation Tax Credit offers a variable credit rate of up to 40% for businesses acquiring eligible assets, depending on the region's economic vitality. The program aims to support the acquisition of new manufacturing and processing equipment, information technology equipment, or management software primarily used in Quebec.

grant_single_labels|projects

Projects or activities eligible for this grant include acquiring new machinery and equipment for manufacturing, as well as investing in advanced technological systems. Additionally, software for enterprise resource planning and customer relationship management is considered eligible.
  • Acquisition of new machinery and equipment for manufacturing.
  • Investment in advanced technological systems.
  • Procurement of enterprise resource planning software.
  • Procurement of customer relationship management software.
grant_single|admissibleProjectsExample

$125,000

Longueuil
Introduction of advanced automation technology for manufacturing

$60,000

Quebec City
Investing in an ERP software system to streamline operations

$75,000

Montreal
Acquiring new CNC machines for precision manufacturing with advanced features

$100,000

Saguenay
Upgrading mineral processing equipment at the mining facility

$40,000

Laval
Procurement of customer relationship management software for enhanced client handling

$90,000

Sherbrooke
Acquisition of data processing equipment to upgrade IT infrastructure

grant_single_labels|admissibility

A corporation with an establishment in Quebec that operates a business can be eligible for this grant under certain conditions. However, specific entities such as tax-exempt corporations or Crown corporations are not eligible.
  • Must have an establishment in Quebec and operate a business there.
  • A corporation cannot be tax-exempt.
  • A corporation cannot be a Crown corporation or a fully controlled subsidiary of such.
  • A corporation cannot be involved in aluminum production or petroleum refining.
  • If part of a partnership, the partnership itself must meet eligibility criteria, but the credit will be granted to the corporation members of the partnership.
  • The acquired asset must meet specific newness, timing, and utilization requirements.

grant_eligibility_criteria|who_can_apply

To be eligible for the Investment and Innovation Tax Credit, a company must have an establishment in Québec and carry on a business there. However, companies such as tax-exempt corporations, Crown corporations, aluminum production corporations, and petroleum refining corporations are excluded from eligibility.
  • Must have an establishment in Québec
  • Must carry on a business in Québec
  • Exclusively for non-tax-exempt corporations
  • Excludes Crown corporations and their fully controlled subsidiaries
  • Excludes aluminum production corporations
  • Excludes petroleum refining corporations

grant_eligibility_criteria|who_cannot_apply

The Credit for Investment and Innovation has specific exclusions for certain types of companies. The following types of companies are not eligible for this grant:
  • Companies exempt from tax.
  • Crown corporations or subsidiaries wholly controlled by such corporations.
  • Aluminum production companies.
  • Oil refining companies.

grant_eligibility_criteria|eligible_expenses

Eligible expenses for this grant include costs associated with acquiring a determined property after March 10, 2020, but before January 1, 2030, which must meet specific criteria.
  • Material for manufacturing and processing categorized under Category 53.
  • Universal electronic processing equipment falling under Category 50, including operating software.
  • Equipment used primarily in the treatment of minerals in Category 43.
  • Management software package categorized under Category 12.
  • Equipment used mainly in the smelting, refining, or hydrometallurgy of minerals from within Canada, excluding gold or silver.

grant_eligibility_criteria|zone

The eligible geographic zones for the credit vary based on the economic vitality of the area where the purchased asset is primarily used.
  • Zones with low economic vitality
  • Zones with intermediate economic vitality
  • Zones with high economic vitality

grant_single_labels|register

  • Step 1: Verify Eligibility
  • Ensure the company has an establishment in Québec and operates a business there
  • Confirm that the company is not exempt from tax, a Crown corporation, a subsidiary fully controlled by a Crown corporation, a production company of aluminum, or a petroleum refining company
  • Step 2: Identify Eligible Expenses
  • Determine if the expenses incurred qualify as "determined expenses" for acquiring an eligible asset
  • Ensure the asset was acquired within the specified date range and meets the definition of a determined asset
  • Calculate the determined expenses minus the amount of excluded expenses
  • Step 3: Complete Form CO-1029.8.36.II
  • Fill out the Crédit d'impôt pour investissement et innovation (CO-1029.8.36.II) form with all prescribed information
  • Step 4: Submit Application
  • If the year in which expenses were incurred ends before January 8, 2023, submit the form by the latest of:
  • The 183rd day after receiving a notice of assessment or reassessment indicating ineligibility because the credit was not claimed in the year expenses were incurred
  • Step 5: Compliance and Reporting
  • Ensure that the acquired asset is used primarily in Québec, for a minimum period of 730 consecutive days following the start of its use by the eligible company, except in cases of loss, major damage, or involuntary destruction
  • Maintain necessary records to demonstrate compliance with the requirements

grant_single_labels|otherInfo

The grant includes specific requirements and details for determining the eligibility and calculation of the credit.
  • The credit's percentages vary based on the time when expenses were incurred and the territory's economic vitality where the property is primarily used.
  • There are different financial periods and percentages applicable, notably for expenses incurred from March 26, 2021, to December 31, 2023.
  • The conditions for a "determined property" include being new, used primarily in Quebec, and not for use by specific excluded enterprises.
  • Prolongation of the deadline for filing the tax credit application form CO-1029.8.36.II is now possible under specified conditions.
  • A new calculation method for exclusive expenses and a cumulative annual ceiling have been introduced as part of the credit's determination process.

Apply to this program