Tax credit for a new financial services corporation
Last Update: July 22, 2025
QC, Canada
Tax credit for eligible new Quebec financial services corporations
Tax credit for a new financial services corporation at a glance
Eligible Funding
- No Condition
Timeline
- Unspecified
Financing Type
Tax Credits
Eligible Industries
- Finance and insurance
Grant Providers
- Revenu Québec
Program status
Open
Overview of the Tax credit for a new financial services corporation program
The Tax Credit for a New Financial Services Corporation provides eligible Quebec-based companies in the financial services sector with a refundable tax credit for qualifying expenses, supporting their establishment and growth in the province. The program is designed to promote business development in financial services, but the maximum funding amount is not specified in the available information.
Eligible projects & activities
- Carrying out business activities within the financial services sector in Quebec with proper certification and eligibility confirmation.
Examples of admissible projects:
$ 95,000
Implement bilingual website with accessible features for legal aid
$ 77,000
Develop accessible community garden using adaptive infrastructure
$ 120,000
Launch digital mental health support platform for youth in crisis
$ 140,000
Install rooftop solar panels on cooperative housing complex
$ 112,000
Upgrade bakery equipment to improve production and reduce waste
$ 82,000
Create zero-waste logistics chain for local restaurant deliveries
Eligibility criteria of the Tax credit for a new financial services corporation program
- The company must operate a business in the financial services sector in Quebec.
- The company must have a business establishment in Quebec.
- The company must hold a qualification certificate for its financial services activities, issued by the Minister of Finance for the relevant fiscal year.
- The company must obtain an eligibility attestation for the year, confirming its activities are those listed on the qualification certificate and are eligible for the tax credit.
Who is eligible?
- Corporations operating in the financial services sector in Quebec
- Corporations with an establishment in Quebec
- Corporations holding a qualification certificate from the Minister of Finance for financial services activities
Who is not eligible
- Personal services businesses.
- Corporations that are tax-exempt.
- Crown corporations or wholly controlled subsidiaries of such corporations.
Eligible expenses
- Expenses detailed and documented with invoice number, date, supplier name, pre-tax amount, and a brief description.
Eligible geographic areas
- Quebec
How to apply to the Tax credit for a new financial services corporation program
1
Report tax credit in tax return
- Enter the tax credit information under lines 440p to 440y of the corporate income tax return
- Include the name of the tax credit, its code (92), and the amount in the designated fields
2
Gather and attach required documents
- Attach the prescribed forms to the return: CO-1029.8.36.SF (Tax Credit for a New Financial Services Corporation)
- Attach CO-1029.8.36.SG (Agreement on the Annual Limit of the Tax Credit) if applicable
- Attach a copy of the qualification certificate issued by the Minister of Finance
- Attach a copy of the eligibility certificate for the year issued by the Minister of Finance
3
Prepare and keep supporting documents
- Prepare and retain documents detailing eligible expenses, including invoice number, date, supplier name, pre-tax amount, and a brief description
- Prepare an organizational chart of associated companies and related persons or partnerships
- Retain proof that the company's income calculation includes the amount of this tax credit received for a past fiscal year, if applicable
4
Submit documents with tax return
- Submit the required documents with the corporate tax return, either electronically or by mail
- If sending by mail, indicate the company name, identification and file numbers, and the fiscal year-end date on each document
- Ensure all documents are sent in a single submission for faster processing
- If unable to attach documents, send them within the required timeframe after the tax return
Additional information
- It is recommended to transmit all required documents in a single submission to expedite processing.
- If documents cannot be included with the initial return, they must be sent by the extended deadline; however, the request will only be processed upon receipt of all required certifications.
- Electronic submission is available through authorized tax software and negates the need for paper documents.
- Each submitted document should indicate the company name, identification and file numbers, and fiscal year-end date when mailed.
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