The Key is substantial savings
Granted by the Ministry of Revenue Québec, CIMEQ holds the status of a prescribed College Center for Transfer of Technologies. Therefore, most of the services offered by the Center are eligible for substantial tax credits.
Tax Credit for Technological Adaptation Services:
To support businesses in their efforts of collaboration and innovation, the government of Quebec has put in place the tax credit for technological adaptation services which mainly touches on liaison services and transfers rendered by CIMEQ.
Through a taxation year, businesses can benefit from a 50% tax credit on eligible expanses incurred from the center. This tax credit is fully refundable regardless of the size and controlling entity of the company.
To be eligible, a company must operate a business in Quebec, have an establishment and not be exempt from taxes.
Tax Credit for R&D
Given their degree of specialization, the services offered by the Center are likely to qualify for tax measures encouraging scientific research and experimental development (SR&ED) that are granted by the federal and provincial tax authorities.
For more information on the SR&ED tax credits:
CIMEQ works closely with partners such as the NRC Industrial Research Assistance Program (IRAP), the "Programme d'Aide à la Recherche Technologie Industrielle" (PART) of the Ministry of Higher Education, in Research, in Science and in Technology and the program of Applied Research and Development (ARD) of NSERC. The industrial research assistance programs offer a range of services in technical and business consultation, as well as a possibility of financial assistance to small and medium enterprises in expansion of technological development.