Tax credit for technological adaptation services

The refundable tax credit for technological adaptation services, liaison and transfer component, implemented during the 1999-2000 budget of the Quebec Government, was enhanced during the 2004-2005 budget.

According to this improvement, companies that receive technological adaptation services from Innofibre can claim a refundable tax credit.

The refundable tax credit is 40% of the eligible expenditures.

Celles-ci sont :

  • 80% of the fees for the liaison and transfer services;
  • 100% of the fees to participate to information and training activities related to liaison and transfer activities.

The liaison and transfer services provided by these organizations are as follows::

  • locating and brokering research results;
  • assessing business needs;
  • bringing the various partners together;
  • carrying out technical feasibility studies and assessing the commercial potential of innovation projects;
  • supporting businesses in the various stages of carrying out an innovation project.

To claim the credit, the corporation must complete form CO-1029.8.21.22 which is available from the offices of the Ministère du Revenu or on its Web site at www.revenu.gouv.qc.ca.

The form must be attached to the tax return of the company.

For more information, contact Revenu Québec and specify that it is for corporation income tax.

To know more about this refundable tax credit, contact Mario Parenteau at 819-376-5011 extension 4514.