Revenu Québec Infos

The deduction for qualified innovative manufacturing corporations (hereinafter referred to as the "DIMC") is particularly intended for corporations in the manufacturing and processing sector that cannot claim the small business deduction.

The purpose of the DIMC is to encourage a qualified innovative manufacturing corporation to profit in Québec from a patent it has been granted as the result of scientific research and experimental development (R&D) work that it carried out in Québec. The DIMC will enable such a corporation to reduce its taxable income for a taxation year by an amount equal to a portion of the value of a qualified patented part integrated into qualified property that the corporation sold, leased or rented that year.

Calculation of the DIMC

Fiscal legislation will be amended so that a qualified innovative manufacturing corporation can deduct, in calculating its taxable income for a taxation year, a specified annual percentage of the lesser of:

• the total value of all qualified patented parts incorporated into qualified property that the corporation sold, leased or rented in the year; and
• the DIMC ceiling.

The following table shows the specified annual percentages for 2017 to 2020 and subsequent years.

Specified annual percentagesYear(s)Percentage201766.1201865.8201965.52020 and subsequent years65.2

For a particular taxation year, the DIMC ceiling will correspond to 50% of the net income derived from the sale, lease or rental of the qualified property shown in the separate accounts that a qualified innovative manufacturing corporation will be required to keep in that regard for the year.

The term "qualified innovative manufacturing corporation" refers to a corporation of which at least 50% of the activities, for a particular taxation year, consist of activities in the manufacturing and processing sector carried out in Québec.

The proportion of a corporation's activities in the manufacturing and processing sector will be determined using the following formula: the labour cost for activities in the manufacturing and processing sector carried out in Québec divided by the labour cost for all activities carried out in Québec.

For a particular taxation year, a qualified innovative manufacturing corporation will be required to have at least $15 million in paid-up capital calculated either for its previous taxation year or, if the corporation is in its first fiscal period, on the basis of its financial statements prepared at the beginning of the fiscal period in accordance with generally accepted accounting principles.

The term "qualified property" of a qualified innovative manufacturing corporation, for a particular taxation year, refers to property:

• that incorporates at least one qualified patented part for which the patent did not expire in the year;
• that the corporation sold, leased or rented in the year;
• in respect of which the corporation derived, for the year, gross income reasonably attributable to an establishment of the corporation located in Québec; and
• in respect of which the corporation kept separate accounts.

The term "qualified patented part" of a qualified innovative manufacturing corporation, for a particular taxation year, refers to an invention for which the corporation owns or co-owns a patent under the Patent Act or any other legislation of a jurisdiction other than Canada having the same effect.

Also, for the five-year period preceding the year in which an application for a patent for the invention was filed under the Patent Act or any other legislation of a jurisdiction other than Canada having the same effect, the total qualified R&D expenditures paid by the qualified innovative manufacturing corporation and any corporation associated with it in the year in which the R&D work was carried out will have to have been at least $500,000.

Furthermore, the corporation or associated corporation, where applicable, will have to have benefited from a refundable tax credit for R&D in respect of those R&D expenditures.

In addition, the only patents that will qualify for the DIMC are those for which an application was properly filed with the competent authorities after March 17, 2016, under the Patent Act or any other legislation of a jurisdiction other than Canada having the same effect.

Effective date

This new deduction for innovative manufacturing corporations will apply in respect of a taxation year of a corporation beginning after December 31, 2016.

For more information, see pages A.49 to A.56 of the document entitled Additional Information 2016-2017 (PDF – 2.88 MB), published by the Ministère des Finances.

The deduction for qualified innovative manufacturing corporations (hereinafter referred to as the "DIMC") is particularly intended for corporations in the manufacturing and processing sector that cannot claim the small business deduction.

The purpose of the DIMC is to encourage a qualified innovative manufacturing corporation to profit in Québec from a patent it has been granted as the result of scientific research and experimental development (R&D) work that it carried out in Québec. The DIMC will enable such a corporation to reduce its taxable income for a taxation year by an amount equal to a portion of the value of a qualified patented part integrated into qualified property that the corporation sold, leased or rented that year.

Calculation of the DIMC

Fiscal legislation will be amended so that a qualified innovative manufacturing corporation can deduct, in calculating its taxable income for a taxation year, a specified annual percentage of the lesser of:

• the total value of all qualified patented parts incorporated into qualified property that the corporation sold, leased or rented in the year; and
• the DIMC ceiling.

The following table shows the specified annual percentages for 2017 to 2020 and subsequent years.

Specified annual percentagesYear(s)Percentage201766.1201865.8201965.52020 and subsequent years65.2

For a particular taxation year, the DIMC ceiling will correspond to 50% of the net income derived from the sale, lease or rental of the qualified property shown in the separate accounts that a qualified innovative manufacturing corporation will be required to keep in that regard for the year.

The term "qualified innovative manufacturing corporation" refers to a corporation of which at least 50% of the activities, for a particular taxation year, consist of activities in the manufacturing and processing sector carried out in Québec.

The proportion of a corporation's activities in the manufacturing and processing sector will be determined using the following formula: the labour cost for activities in the manufacturing and processing sector carried out in Québec divided by the labour cost for all activities carried out in Québec.

For a particular taxation year, a qualified innovative manufacturing corporation will be required to have at least $15 million in paid-up capital calculated either for its previous taxation year or, if the corporation is in its first fiscal period, on the basis of its financial statements prepared at the beginning of the fiscal period in accordance with generally accepted accounting principles.

The term "qualified property" of a qualified innovative manufacturing corporation, for a particular taxation year, refers to property:

• that incorporates at least one qualified patented part for which the patent did not expire in the year;
• that the corporation sold, leased or rented in the year;
• in respect of which the corporation derived, for the year, gross income reasonably attributable to an establishment of the corporation located in Québec; and
• in respect of which the corporation kept separate accounts.

The term "qualified patented part" of a qualified innovative manufacturing corporation, for a particular taxation year, refers to an invention for which the corporation owns or co-owns a patent under the Patent Act or any other legislation of a jurisdiction other than Canada having the same effect.

Also, for the five-year period preceding the year in which an application for a patent for the invention was filed under the Patent Act or any other legislation of a jurisdiction other than Canada having the same effect, the total qualified R&D expenditures paid by the qualified innovative manufacturing corporation and any corporation associated with it in the year in which the R&D work was carried out will have to have been at least $500,000.

Furthermore, the corporation or associated corporation, where applicable, will have to have benefited from a refundable tax credit for R&D in respect of those R&D expenditures.

In addition, the only patents that will qualify for the DIMC are those for which an application was properly filed with the competent authorities after March 17, 2016, under the Patent Act or any other legislation of a jurisdiction other than Canada having the same effect.

Effective date

This new deduction for innovative manufacturing corporations will apply in respect of a taxation year of a corporation beginning after December 31, 2016.

For more information, see pages A.49 to A.56 of the document entitled Additional Information 2016-2017 (PDF – 2.88 MB), published by the Ministère des Finances.

The deduction for qualified innovative manufacturing corporations (hereinafter referred to as the "DIMC") is particularly intended for corporations in the manufacturing and processing sector that cannot claim the small business deduction.

The purpose of the DIMC is to encourage a qualified innovative manufacturing corporation to profit in Québec from a patent it has been granted as the result of scientific research and experimental development (R&D) work that it carried out in Québec. The DIMC will enable such a corporation to reduce its taxable income for a taxation year by an amount equal to a portion of the value of a qualified patented part integrated into qualified property that the corporation sold, leased or rented that year.

Calculation of the DIMC

Fiscal legislation will be amended so that a qualified innovative manufacturing corporation can deduct, in calculating its taxable income for a taxation year, a specified annual percentage of the lesser of:

• the total value of all qualified patented parts incorporated into qualified property that the corporation sold, leased or rented in the year; and
• the DIMC ceiling.

The following table shows the specified annual percentages for 2017 to 2020 and subsequent years.

Specified annual percentagesYear(s)Percentage201766.1201865.8201965.52020 and subsequent years65.2

For a particular taxation year, the DIMC ceiling will correspond to 50% of the net income derived from the sale, lease or rental of the qualified property shown in the separate accounts that a qualified innovative manufacturing corporation will be required to keep in that regard for the year.

The term "qualified innovative manufacturing corporation" refers to a corporation of which at least 50% of the activities, for a particular taxation year, consist of activities in the manufacturing and processing sector carried out in Québec.

The proportion of a corporation's activities in the manufacturing and processing sector will be determined using the following formula: the labour cost for activities in the manufacturing and processing sector carried out in Québec divided by the labour cost for all activities carried out in Québec.

For a particular taxation year, a qualified innovative manufacturing corporation will be required to have at least $15 million in paid-up capital calculated either for its previous taxation year or, if the corporation is in its first fiscal period, on the basis of its financial statements prepared at the beginning of the fiscal period in accordance with generally accepted accounting principles.

The term "qualified property" of a qualified innovative manufacturing corporation, for a particular taxation year, refers to property:

• that incorporates at least one qualified patented part for which the patent did not expire in the year;
• that the corporation sold, leased or rented in the year;
• in respect of which the corporation derived, for the year, gross income reasonably attributable to an establishment of the corporation located in Québec; and
• in respect of which the corporation kept separate accounts.

The term "qualified patented part" of a qualified innovative manufacturing corporation, for a particular taxation year, refers to an invention for which the corporation owns or co-owns a patent under the Patent Act or any other legislation of a jurisdiction other than Canada having the same effect.

Also, for the five-year period preceding the year in which an application for a patent for the invention was filed under the Patent Act or any other legislation of a jurisdiction other than Canada having the same effect, the total qualified R&D expenditures paid by the qualified innovative manufacturing corporation and any corporation associated with it in the year in which the R&D work was carried out will have to have been at least $500,000.

Furthermore, the corporation or associated corporation, where applicable, will have to have benefited from a refundable tax credit for R&D in respect of those R&D expenditures.

In addition, the only patents that will qualify for the DIMC are those for which an application was properly filed with the competent authorities after March 17, 2016, under the Patent Act or any other legislation of a jurisdiction other than Canada having the same effect.

Effective date

This new deduction for innovative manufacturing corporations will apply in respect of a taxation year of a corporation beginning after December 31, 2016.

For more information, see pages A.49 to A.56 of the document entitled Additional Information 2016-2017 (PDF – 2.88 MB), published by the Ministère des Finances.

The amount of qualified expenditures included in calculating the tax credits in the cultural sector that a qualified corporation can claim must be reduced by the amount of any government assistance and any non-government assistance, other than an excluded amount of assistance, that the corporation received or is entitled to receive.

Fiscal legislation will be amended so that amounts of assistance granted by Québec City under its program entitled Soutien à la production cinématographique et télévisuelle and by the Société des célébrations du 375e anniversaire de Montréal constitute excluded amounts of assistance for the purposes of certain tax credits in the cultural sector.

For more information, see pages A.71 and A.72 of the document entitled Additional Information 2016-2017 (PDF – 2.88 MB), published by the Ministère des Finances.

The amount of qualified expenditures included in calculating the tax credits in the cultural sector that a qualified corporation can claim must be reduced by the amount of any government assistance and any non-government assistance, other than an excluded amount of assistance, that the corporation received or is entitled to receive.

Fiscal legislation will be amended so that amounts of assistance granted by Québec City under its program entitled Soutien à la production cinématographique et télévisuelle and by the Société des célébrations du 375e anniversaire de Montréal constitute excluded amounts of assistance for the purposes of certain tax credits in the cultural sector.

For more information, see pages A.71 and A.72 of the document entitled Additional Information 2016-2017 (PDF – 2.88 MB), published by the Ministère des Finances.

The amount of qualified expenditures included in calculating the tax credits in the cultural sector that a qualified corporation can claim must be reduced by the amount of any government assistance and any non-government assistance, other than an excluded amount of assistance, that the corporation received or is entitled to receive.

Fiscal legislation will be amended so that amounts of assistance granted by Québec City under its program entitled Soutien à la production cinématographique et télévisuelle and by the Société des célébrations du 375e anniversaire de Montréal constitute excluded amounts of assistance for the purposes of certain tax credits in the cultural sector.

For more information, see pages A.71 and A.72 of the document entitled Additional Information 2016-2017 (PDF – 2.88 MB), published by the Ministère des Finances.

The amount of qualified expenditures included in calculating the tax credits in the cultural sector that a qualified corporation can claim must be reduced by the amount of any government assistance and any non-government assistance, other than an excluded amount of assistance, that the corporation received or is entitled to receive.

Fiscal legislation will be amended so that amounts of assistance granted by Québec City under its program entitled Soutien à la production cinématographique et télévisuelle and by the Société des célébrations du 375e anniversaire de Montréal constitute excluded amounts of assistance for the purposes of certain tax credits in the cultural sector.

For more information, see pages A.71 and A.72 of the document entitled Additional Information 2016-2017 (PDF – 2.88 MB), published by the Ministère des Finances.

There will be changes to the solidarity tax credit in 2016. The changes come as a result of the review of the terms of application of the credit that was announced in the Budget Speech of March 26, 2015.

The key changes are the following:

Calculation of the tax credit

As of January 1, 2016, the amount of the credit will depend on the individual's situation on December 31 of each year. Accordingly, for the payment period beginning July 2016, the amount of the credit will be determined based on the individual's situation on December 31, 2015.

Change in the course of the year

Since the credit will be calculated based on an individual's situation on December 31, it will no longer be necessary to notify us of a change in situation in the course of the year, except in the following cases:

• The individual dies. 
• The individual is confined to a prison or similar establishment.
• The individual ceases to be resident in Québec. 

Individuals who are in any of these situations immediately before the beginning of a given month will not be entitled to receive the credit payment for that month.

Payment frequency

As of the payment period beginning in July 2016, the frequency of solidarity tax credit payments will vary based on the amount of the credit determined for the year.

Payment frequencyAnnual amount determinedMonthly$800 or moreQuarterly (July, October, January and April)More than $240 but less than $800Annual (July)$240 or less

Note that payments are always made in the first five days of the month.

Proof of eligibility regarding housingTenants

Tenants and subtenants of eligible dwellings will receive RL-31 slips from the owners of their dwellings by February 29, 2016. They will have to use the information provided on the slips to claim the solidarity tax credit on their income tax return.

Owners

To claim the solidarity tax credit on their income tax return, owners will have to provide the roll number or identification number shown on their municipal tax bills.

More information on this subject will soon be available on our website.

There will be changes to the solidarity tax credit in 2016. The changes come as a result of the review of the terms of application of the credit that was announced in the Budget Speech of March 26, 2015.

The key changes are the following:

Calculation of the tax credit

As of January 1, 2016, the amount of the credit will depend on the individual's situation on December 31 of each year. Accordingly, for the payment period beginning July 2016, the amount of the credit will be determined based on the individual's situation on December 31, 2015.

Change in the course of the year

Since the credit will be calculated based on an individual's situation on December 31, it will no longer be necessary to notify us of a change in situation in the course of the year, except in the following cases:

• The individual dies. 
• The individual is confined to a prison or similar establishment.
• The individual ceases to be resident in Québec. 

Individuals who are in any of these situations immediately before the beginning of a given month will not be entitled to receive the credit payment for that month.

Payment frequency

As of the payment period beginning in July 2016, the frequency of solidarity tax credit payments will vary based on the amount of the credit determined for the year.

Payment frequencyAnnual amount determinedMonthly$800 or moreQuarterly (July, October, January and April)More than $240 but less than $800Annual (July)$240 or less

Note that payments are always made in the first five days of the month.

Proof of eligibility regarding housingTenants

Tenants and subtenants of eligible dwellings will receive RL-31 slips from the owners of their dwellings by February 29, 2016. They will have to use the information provided on the slips to claim the solidarity tax credit on their income tax return.

Owners

To claim the solidarity tax credit on their income tax return, owners will have to provide the roll number or identification number shown on their municipal tax bills.

More information on this subject will soon be available on our website.

There will be changes to the solidarity tax credit in 2016. The changes come as a result of the review of the terms of application of the credit that was announced in the Budget Speech of March 26, 2015.

The key changes are the following:

Calculation of the tax credit

As of January 1, 2016, the amount of the credit will depend on the individual's situation on December 31 of each year. Accordingly, for the payment period beginning July 2016, the amount of the credit will be determined based on the individual's situation on December 31, 2015.

Change in the course of the year

Since the credit will be calculated based on an individual's situation on December 31, it will no longer be necessary to notify us of a change in situation in the course of the year, except in the following cases:

• The individual dies. 
• The individual is confined to a prison or similar establishment.
• The individual ceases to be resident in Québec. 

Individuals who are in any of these situations immediately before the beginning of a given month will not be entitled to receive the credit payment for that month.

Payment frequency

As of the payment period beginning in July 2016, the frequency of solidarity tax credit payments will vary based on the amount of the credit determined for the year.

Payment frequencyAnnual amount determinedMonthly$800 or moreQuarterly (July, October, January and April)More than $240 but less than $800Annual (July)$240 or less

Note that payments are always made in the first five days of the month.

Proof of eligibility regarding housingTenants

Tenants and subtenants of eligible dwellings will receive RL-31 slips from the owners of their dwellings by February 29, 2016. They will have to use the information provided on the slips to claim the solidarity tax credit on their income tax return.

Owners

To claim the solidarity tax credit on their income tax return, owners will have to provide the roll number or identification number shown on their municipal tax bills.

More information on this subject will soon be available on our website.

There will be changes to the solidarity tax credit in 2016. The changes come as a result of the review of the terms of application of the credit that was announced in the Budget Speech of March 26, 2015.

The key changes are the following:

Calculation of the tax credit

As of January 1, 2016, the amount of the credit will depend on the individual's situation on December 31 of each year. Accordingly, for the payment period beginning July 2016, the amount of the credit will be determined based on the individual's situation on December 31, 2015.

Change in the course of the year

Since the credit will be calculated based on an individual's situation on December 31, it will no longer be necessary to notify us of a change in situation in the course of the year, except in the following cases:

• The individual dies. 
• The individual is confined to a prison or similar establishment.
• The individual ceases to be resident in Québec. 

Individuals who are in any of these situations immediately before the beginning of a given month will not be entitled to receive the credit payment for that month.

Payment frequency

As of the payment period beginning in July 2016, the frequency of solidarity tax credit payments will vary based on the amount of the credit determined for the year.

Payment frequencyAnnual amount determinedMonthly$800 or moreQuarterly (July, October, January and April)More than $240 but less than $800Annual (July)$240 or less

Note that payments are always made in the first five days of the month.

Proof of eligibility regarding housingTenants

Tenants and subtenants of eligible dwellings will receive RL-31 slips from the owners of their dwellings by February 29, 2016. They will have to use the information provided on the slips to claim the solidarity tax credit on their income tax return.

Owners

To claim the solidarity tax credit on their income tax return, owners will have to provide the roll number or identification number shown on their municipal tax bills.

More information on this subject will soon be available on our website.

The RL-31 slip will have to be filed by any person or business that is the owner of a residential complex with one or more leased dwellings. Such property owners will have to provide a copy of the slip to all individuals who were tenants or subtenants of a dwelling on December 31, 2015, so that they can claim the solidarity tax credit in their income tax return.

The RL-31 slip will serve to report information about the leased dwelling, the number of tenants and information about the tenants. It will have to be filed with us and distributed to tenants and subtenants by February 29, 2016.

To prepare and file the RL-31 slip, rental property owners will be able to use either:

• the Prepare and View the RL-31 Slip online service, with its simple authentication procedure; or
• software authorized by Revenu Québec to generate RL-31 slips. 

If neither of these methods is possible, owners will have to contact us.

For complete information on filing RL-31 slips, see the Guide to Filing the RL-31 Slip: Information About a Leased Dwelling (RL-31.G-V).

The RL-31 slip will have to be filed by any person or business that is the owner of a residential complex with one or more leased dwellings. Such property owners will have to provide a copy of the slip to all individuals who were tenants or subtenants of a dwelling on December 31, 2015, so that they can claim the solidarity tax credit in their income tax return.

The RL-31 slip will serve to report information about the leased dwelling, the number of tenants and information about the tenants. It will have to be filed with us and distributed to tenants and subtenants by February 29, 2016.

To prepare and file the RL-31 slip, rental property owners will be able to use either:

• the Prepare and View the RL-31 Slip online service, with its simple authentication procedure; or
• software authorized by Revenu Québec to generate RL-31 slips. 

If neither of these methods is possible, owners will have to contact us.

For complete information on filing RL-31 slips, see the Guide to Filing the RL-31 Slip: Information About a Leased Dwelling (RL-31.G-V).

The RL-31 slip will have to be filed by any person or business that is the owner of a residential complex with one or more leased dwellings. Such property owners will have to provide a copy of the slip to all individuals who were tenants or subtenants of a dwelling on December 31, 2015, so that they can claim the solidarity tax credit in their income tax return.

The RL-31 slip will serve to report information about the leased dwelling, the number of tenants and information about the tenants. It will have to be filed with us and distributed to tenants and subtenants by February 29, 2016.

To prepare and file the RL-31 slip, rental property owners will be able to use either:

• the Prepare and View the RL-31 Slip online service, with its simple authentication procedure; or
• software authorized by Revenu Québec to generate RL-31 slips. 

If neither of these methods is possible, owners will have to contact us.

For complete information on filing RL-31 slips, see the Guide to Filing the RL-31 Slip: Information About a Leased Dwelling (RL-31.G-V).

In the Budget Speech delivered on March 26, 2015, the Minister of Finance announced that an increase in the rate of the fuel tax reduction applicable to gasoline in Québec's border regions and the designated region would take effect at 12:01 a.m. on April 1, 2015.

Refund application

If you sell gasoline on which an amount equal to the fuel tax was collected in advance, you can apply for a refund of the amount that corresponds to the difference between the new rates and the rates in effect before April 1, 2015.

To apply for the refund, you must inventory the gasoline you have in stock at 12:01 a.m. on April 1, 2015, and file form CAZ-14.1.R-V, Application for a Fuel Tax Refund in Respect of Gasoline in Stock at 12:01 a.m. on April 1, 2015 (Retail Dealers), making sure that we receive it by June 30, 2015. Applications received after that date will not be accepted.

The RL-31 slip will have to be filed by any person or business that is the owner of a residential complex with one or more leased dwellings. Such property owners will have to provide a copy of the slip to all individuals who were tenants or subtenants of a dwelling on December 31, 2015, so that they can claim the solidarity tax credit in their income tax return.

The RL-31 slip will serve to report information about the leased dwelling, the number of tenants and information about the tenants. It will have to be filed with us and distributed to tenants and subtenants by February 29, 2016.

To prepare and file the RL-31 slip, rental property owners will be able to use either:

• the Prepare and View the RL-31 Slip online service, with its simple authentication procedure; or
• software authorized by Revenu Québec to generate RL-31 slips. 

If neither of these methods is possible, owners will have to contact us.

For complete information on filing RL-31 slips, see the Guide to Filing the RL-31 Slip: Information About a Leased Dwelling (RL-31.G-V).

In the Budget Speech delivered on March 26, 2015, the Minister of Finance announced that an increase in the rate of the fuel tax reduction applicable to gasoline in Québec's border regions and the designated region would take effect at 12:01 a.m. on April 1, 2015.

Refund application

If you sell gasoline on which an amount equal to the fuel tax was collected in advance, you can apply for a refund of the amount that corresponds to the difference between the new rates and the rates in effect before April 1, 2015.

To apply for the refund, you must inventory the gasoline you have in stock at 12:01 a.m. on April 1, 2015, and file form CAZ-14.1.R-V, Application for a Fuel Tax Refund in Respect of Gasoline in Stock at 12:01 a.m. on April 1, 2015 (Retail Dealers), making sure that we receive it by June 30, 2015. Applications received after that date will not be accepted.

The Act respecting the sectoral parameters of certain fiscal measures will be amended to provide that, in order to obtain a qualification certificate for purposes of the refundable tax credits designed to promote the creation of new financial services corporations, a corporation must show that none of its activities is the continuation, in whole or in part, of an activity previously engaged in by another person or a partnership.

Also, a corporation that has a valid qualification certificate for purposes of the above-mentioned tax credits will have to show the Minister of Finance that all the activities it carried on throughout the taxation year or the part of the taxation year (as applicable) for which an application for a certificate is made constitute activities that were not previously engaged in by another person or a partnership. Otherwise, an annual certificate will not be issued.

The amendments to the Act will be declaratory in nature.

For more information, see pages A.110 to A.112 of the document entitled Additional Information 2015-2016 (PDF – 1.96 MB), published by the Ministère des Finances.

The Act respecting the sectoral parameters of certain fiscal measures will be amended to provide that, in order to obtain a qualification certificate for purposes of the refundable tax credits designed to promote the creation of new financial services corporations, a corporation must show that none of its activities is the continuation, in whole or in part, of an activity previously engaged in by another person or a partnership.

Also, a corporation that has a valid qualification certificate for purposes of the above-mentioned tax credits will have to show the Minister of Finance that all the activities it carried on throughout the taxation year or the part of the taxation year (as applicable) for which an application for a certificate is made constitute activities that were not previously engaged in by another person or a partnership. Otherwise, an annual certificate will not be issued.

The amendments to the Act will be declaratory in nature.

For more information, see pages A.110 to A.112 of the document entitled Additional Information 2015-2016 (PDF – 1.96 MB), published by the Ministère des Finances.

The Act respecting the sectoral parameters of certain fiscal measures will be amended to provide that, in order to obtain a qualification certificate for purposes of the refundable tax credits designed to promote the creation of new financial services corporations, a corporation must show that none of its activities is the continuation, in whole or in part, of an activity previously engaged in by another person or a partnership.

Also, a corporation that has a valid qualification certificate for purposes of the above-mentioned tax credits will have to show the Minister of Finance that all the activities it carried on throughout the taxation year or the part of the taxation year (as applicable) for which an application for a certificate is made constitute activities that were not previously engaged in by another person or a partnership. Otherwise, an annual certificate will not be issued.

The amendments to the Act will be declaratory in nature.

For more information, see pages A.110 to A.112 of the document entitled Additional Information 2015-2016 (PDF – 1.96 MB), published by the Ministère des Finances.