Tax credit for Gaspésie and selected maritime regions of Quebec
Highlights
This program is designed specifically for businesses like yours in the Gaspésie and Maritime regions of Québec. By applying, you can benefit from a refundable tax credit that can significantly reduce your payroll costs. This means more funds available for other critical areas of your business.
Why Apply?
- 30% tax credit for marine biotechnology, mariculture, and recreational/tourism activities.
- 15% tax credit for other eligible activities.
- Refundable tax credit means you get cash back, not just a deduction.
What's in it for You?
- Boost your cash flow by reducing payroll expenses.
- Create jobs and expand your business operations.
- Easy qualification if you meet the criteria, with support from Investissement Québec.
Applying for this program can help you grow your business, create jobs, and improve your financial stability. Don't miss out on this opportunity to enhance your business operations with government-backed support.
Financing Details
Type of Financing: Tax Credit
Repayment Terms and Interest Rates:
- This is a refundable tax credit, so there is no repayment required.
- No interest rates apply.
Eligible Expenses:
- Payroll for employees working in eligible activities.
- Activities include marine biotechnology, mariculture, recreational and tourism activities, manufacturing, processing of sea products, and production of wind power and wind turbines.
Ineligible Uses:
- General administrative tasks.
- Any activities not specified as eligible under the program.
Fees:
- Fees are charged for processing initial qualification and business qualification certificates.
- For detailed fee information, contact Investissement Québec or refer to the rates schedule on their website.
Qualifications
- Must be located in one of the following regions of Québec: Bas-Saint-Laurent, Côte-Nord, or Gaspésie–Îles-de-la-Madeleine.
- Must be involved in one of the following activities:
- Marine biotechnology and mariculture
- Manufacturing or processing of finished or semi-finished products from slate or peat
- Production of wind power and manufacturing of wind turbines (La Matanie RCM only)
- Processing of sea products (La Matanie RCM only)
- Recreational and tourism activities (Îles-de-la-Madeleine only)
- Must create the equivalent of at least three full-time positions in a facility located in an eligible region.
- Employees must work in a facility operated by the corporation located in an eligible region and devote at least 75% of their time to tasks directly related to eligible activities.
- Eligible wages must be calculated pursuant to the Taxation Act, up to an annual limit of $83,333.
- Must obtain an initial qualification certificate issued by Investissement Québec.
- Must obtain a business qualification certificate for its activities and an employee certificate for its eligible employees each year.
Operations in the eligible region must begin no later than December 31, 2025.
Disqualifications:
- General administrative tasks performed by employees do not qualify.
- Businesses not located in Bas-Saint-Laurent, Côte-Nord, or Gaspésie–Îles-de-la-Madeleine.
- Activities not listed as eligible.
Description
This program offers your business a refundable tax credit to encourage job creation in certain maritime regions of Québec, such as Bas-Saint-Laurent, Côte-Nord, and Gaspésie–Îles-de-la-Madeleine.
Here's what you get:
- 30% tax credit for activities in marine biotechnology, mariculture, and recreational and tourism.
- 15% tax credit for other eligible activities.
How it works:
- The tax credit is based on your total eligible payroll.
- Eligible employees must work in the specified regions and spend at least 75% of their time on eligible activities.
- The maximum eligible wage per employee is $83,333 annually.
Why this matters:
- This tax credit helps reduce your business costs, making it easier to hire and retain employees.
- It supports your business growth by providing financial relief until December 31, 2025.
Take advantage of this opportunity to boost your business while contributing to the economic development of Québec's maritime regions.
Program Steps
Prepare Required Documentation: Gather the necessary documents to support your application. You will need:
- Financial statements
- Business plan
- Details of intended use of funds
- Proof of eligible payroll
- Employee certificates
- Initial qualification certificate
- Business qualification certificate
Complete the Initial Qualification Certificate Application: Fill out the application for an initial qualification certificate. This will demonstrate your business's ability to create at least three full-time positions in an eligible region.
Submit the Initial Qualification Certificate Application: Send the completed application to Investissement Québec for review.
Obtain the Initial Qualification Certificate: Wait for Investissement Québec to confirm your eligibility and issue the initial qualification certificate.
Complete the Business Qualification Certificate Application: Fill out the application for a business qualification certificate and employee certificates for your eligible employees.
Submit the Business Qualification Certificate Application: Send the completed application to Investissement Québec for review.
Obtain the Business Qualification Certificate and Employee Certificates: Wait for Investissement Québec to issue the business qualification certificate and employee certificates.
Pay the Required Fees: Ensure you pay any fees associated with processing the eligibility certificates as outlined by Investissement Québec.
Annual Renewal: Each year, obtain a new business qualification certificate and employee certificates to maintain eligibility for the tax credit.
Contact Investissement Québec for Assistance: If you have any questions or need further assistance, contact an Investissement Québec advisor at 1-844-474-6367.