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HOW TO APPLY

Here are some practical tips for corporations that want to benefit from tax measures available to new financial services corporations (NFSC).

TO OBTAIN THE NFSC STATUS

The corporation must fill the new financial services corporation qualification certificate application and provide the documents required in it.

You will find English courtesy versions of the relevant documents in the NFSC Forms section. Please note that only the French forms will be accepted.

Applications for qualification certificates are only made once and must be submitted before the end of the new corporation’s second taxation year.

To apply for an annual certificate

At the end of each taxation year, the corporation must fill out the following forms and provide the documents required in them:

  • new financial corporation annual certificate application
  • annual certificate application for each eligible employee, including foreign specialists

You will find English courtesy versions of the relevant documents in the NFSC Forms section. Please note that only the French forms will be accepted.

Applications for annual certificates (corporation and employee) must be made annualy to access the tax benefits.

FOR FOREIGN SPECIALISTS

In order to access the tax benefit for corporations as well as the personal tax benefit for foreign specialists, the corporation must submit the following forms and the documents required in them:

  • foreign specialist qualification certificate application no later than the last day of February of the year following the specialist’s starting date
  • foreign specialist annual certificate application, for the personal tax benefit, after the end of the calendar year, no later than  the last day of February

You will find English courtesy versions of the relevant documents in the NFSC Forms section. Please note that only the French forms will be accepted.

TO MODIFY AN OFFICIAL DOCUMENT

The corporation must submit a written request for any change relating to:

  • the NFSC’s address (location of the eligible activities)
  • the name of the corporation operating the NFSC
  • the addition or removal of eligible activities from the corporation’s qualification certificate
  • any other information included in the official documents issued by the Ministère

For more details on the procedure to modify an official document, contact us.

TO CLAIM THE TAX CREDITS

The Québec Minister of Finance certifies the eligibility of activities carried out by the corporation and its employees and issues the qualification certificates and annual certificates required to claim the tax credits.

In order to claim the tax credits, the corporation must attach to its income tax return the form prescribed for this purpose by Revenu Québec as well as a copy of the annual certificates issued by the Minister of Finance.

For more information on the calculation and claiming of the tax credits or to obtain a list of the documents needed for the income tax return, visit the Revenu Québec website This link leads to the Revenu Québec website..