Design Tax Credit
Overview
The Design Tax Credit, exclusive to Quebec, is supporting the fashion and textile industry as well as the design of industrially manufactured products.
This program contains two sections:
1. Fashion design
2. Industrial design
What can you expect to receive?
The refundable tax credit varies according to the company’s global assets, from 12% up to 24% of qualified expenditures:
1. Wages: up to 60,000 $ of the salary of each qualified designer and up to 40,000 $ of the salary of each qualified patternmaker;
2. Fees of an external designer (consultant): limited to 65% of the total amount
Are you eligible?
To be eligible for the Design Tax Credit, your company must have a gross income of at least 150,000 $ for the fiscal year in question, must be established in Quebec and must obtain a certificate of eligibility from the Ministère de l'Économie, de la Science et de l'Innovation.
Combining credits: the most advantageous choice
Along with the Design Tax Credit, there are other programs that can help you develop your company: SR&ED, CDAE “E-Business” Tax Credit, Multimedia Tax Credit.
Call us today to find out what is the most advantageous strategy to maximize your benefits.
