close
Share with your friends

Canada: Tax relief for investments and innovation, Quebec budget 2020-2021

Canada: Quebec budget 2020-2021

Quebec’s Finance Minister on 10 March 2020 delivered the province’s 2020-2021 budget.

1000

Related content

The budget proposes no changes to the individual (personal) or corporate tax rates.

The budget proposes tax relief measures for certain investments and innovation projects. For instance, the budget includes a refundable tax credit for investments and innovation to be granted to a qualified corporation that acquires, after 10 March 2020 and before 1 January 2025:

  • Manufacturing or processing equipment
  • Computer equipment
  • Certain management software packages

Another tax relief item would be a “tax holiday” for a maximum of 15 years for large investment projects. The tax assistance relating to a large investment project could not exceed 15% of the total qualified capital investments relating to the project, determined on the date that the tax-free period begins.


Read a March 2020 report [PDF 240 KB] prepared by the KPMG member firm in Canada

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal