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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.

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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

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