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Creation
of new innovation centres
A
number of fiscal measures have already been introduced regarding
designated sites, such as CDTIs, CNEs, the CNNTQ, the Technopôle
Angus and the Cité de l'optique.
To
accentuate support for innovation in the most promising sectors
of the knowledge-based economy, while encouraging companies
to locate and expand in the Montréal and Québec
City regions, two tax assistance measures will be introduced
with the creation of innovation centres.
Refundable
tax credit for innovation centres
Briefly,
this tax credit will be granted, beginning in calendar year
2002, regarding the increase in payroll attributable to eligible
employees of an eligible corporation that moves into a designated
site, namely the Carrefour de l'innovation de Montréal
or the Carrefour de l'innovation de Québec.
An
eligible corporation may claim this tax credit, whose rate
will be set at 40%, regarding five consecutive calendar years.
Tax
holiday for foreign specialists working in innovation centres
To
foster the recruitment of foreigners with expertise in specialized
activity sectors, the tax legislation provides for tax exemptions
so as to encourage such individuals to come to work in Québec.
A
similar tax holiday will be available for foreign experts
employed by an eligible corporation that carries on a certified
business in the Carrefour de l'innovation de Montréal
or the Carrefour de l'innovation de Québec. Accordingly,
a foreign specialist employed by such a corporation may claim
a deduction in calculating his taxable income regarding the
salary paid to him by the eligible corporation for a period
of five years as a foreign specialist.
The
application details of this tax holiday will be identical
to those of the tax holiday available to foreign specialists
employed by an eligible corporation carrying on a business
in a new economy centre (CNE). Accordingly, an eligibility
certification application must be filed annually with Investissement
Québec.
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