Tax credit for technological adaptation services
- Open continuously
Overview
Tax credit on the costs of transferring technology from a college technology transfer centre or liaison and transfer centre.
At a glance
Funding available
- Increase performance through digital transformation
- Varies by project
- Open continuously
Eligible candidates
- All industries
- Quebec
- All legal structures
- All revenue ranges
- All organization sizes
- All groups
Next Steps
Activities funded
The eligible activities for this tax credit revolve around engaging with recognized technology transfer centers to enhance technological capabilities. These activities focus primarily on contracting technological adaptation services and participating in specific educational initiatives.
- Engaging in contracts with eligible Collegial Technology Transfer Centers (CCTT) for liaison and transfer services in Quebec.
- Participating in training and information activities in Quebec related to these liaison and transfer services, provided they are not part of a regular training program.
Eligibility
Who is eligible?
Eligible businesses are those operating in Québec, with an establishment in the province, and engage in eligible commercial activities. Companies must be involved with an eligible college technology transfer centre (CCTT) or liaison and transfer centre (CLT) through a contract to obtain qualified services for transfer and adaptation activities.
Who is not eligible
The tax credit for technological adaptation services excludes certain companies based on their tax status and ownership. The restrictions aim to focus the support on businesses operational within specific eligibility criteria.
- Companies that are exempt from tax.
- Crown corporations or wholly-owned subsidiaries of such corporations.
Eligible expenses
This Canadian tax credit incentivizes companies to engage in projects that enhance technological adaptation through eligible services. The focus is on nurturing collaborations with authorized technological transfer centers to advance business operations.
- Engaging in technology transfer projects with a college center for technology transfer (CCTT) or a liaison and transfer center (CLT) in Quebec.
- Participation in liaison services to implement and adapt new technologies.
- Involvement in specific, non-regular training and informational activities related to the adaptation of technology in Quebec.
Eligible geographic areas
This tax credit is targeted at companies with operational establishments within a specific province in Canada, reflecting its regional focus. Eligibility for this grant is determined by the location of the company's operations within this area.
- Companies with operating establishments located in Quebec, Canada.
Selection criteria
- Companies must be eligible and have an establishment in Quebec. - Companies must operate an eligible business in Quebec. - Companies must have a contract with an eligible CCTT or CLT. - Companies must incur eligible expenses within the scope of the contract. - Expenses must be paid at the time of the tax credit application. - Certain types of companies are not eligible for the tax credit. - Expenses must be related to eligible services provided by the CCTT or CLT. - Expenses may include fees for eligible services, training, and information activities offered in Quebec. - Participation in ad-hoc training activities may be considered eligible. - Expenses must not be eligible for other specific research and experimental development tax credits.
How to apply
Here are the steps to apply for the Crédit d'impôt pour services d'adaptation technologique:
- Step 1: Verify Eligibility
- Ensure your company operates an eligible business in Quebec and has entered a contract with an eligible CCTT or CLT.
- Confirm that your company is not tax-exempt, a Crown corporation, or a subsidiary wholly controlled by one.
- Step 2: Gather Necessary Documentation
- Collect all pertinent financial records detailing eligible expenses and payments.
- Compile contracts with CCTT or CLT and evidence of the services procured.
- Ensure documentation differentiates between expenses eligible for this credit and those for other R&D credits.
- Step 3: Calculate Eligible Expenses
- Identify 80% of the fees for qualifying services offered by CCTT or CLT.
- Include costs of participating in approved supplementary training and information sessions in Quebec.
- Step 4: Complete Tax Credit Application
- Fill out the required forms provided by Revenu Québec for claiming this tax credit.
- Include your calculations and supporting documentation.
- Step 5: Submit Application to Revenu Québec
- Submit the completed application through the appropriate Revenu Québec channels.
- Ensure all documentation is complete and accurate to avoid delays.
- Step 6: Retain Confirmation and Records
- Keep copies of the application, supporting documents, and any confirmation received from Revenu Québec for your records.
Additional information
Additional insights about the tax credit eligibility:
- This credit is specifically for services related to technology adaptation, indicating a focus on innovation and modernization within the business operations.
- The tax credit aims to encourage collaboration between businesses and educational institutions, promoting technology transfer and practical applications of academic research.
- Ensuring that all expenses are thoroughly documented and verified as paid before submitting the application is crucial to claim the tax credit successfully.
- Businesses should ensure they do not double-dip into multiple credits intended for similar purposes, as overlap with other specific research credits can disqualify expenses.