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Home > IFC Benefits
Eligible Corporation
Description of advantages

The following advantages are available to a corporation operating an International Financial Centre (IFC) :
Annual refundable tax credit of 30% on salaries paid to employees of an IFC (max. of $20 000 per year per job).
- An eligible employee working for an IFC and earning employment income of $20 000 will enable the business to obtain a tax credit of $6 000
- The $20 000 cap will be reached where an eligible employee’s salary is equal to $66 667.

Refundable tax credit for IFCs
(dollars)
Salary paid Maximum amount
of tax credit
Greater than Without exceeding
0 20 000 6 000
20 000 30 000 9 000
30 000 40 000 12 000
40 000 50 000 15 000
50 000 60 000 18 000
60 000 70 000 20 000
70 000 ... 20 000



Eligible Corporation

To be designated as an IFC and take advantage of the tax benefits under the Act Respecting International Financial Centre, a corporation must satisfy the following conditions:

Be an autonomous physical entity – a corporation, parent or subsidiary - partnerships are no longer eligible.
Have a minimum of six eligible employees per IFC.
Activities must involved at least one of the 25 qualified International Financial Transactions (QIFTs).
Activities must be conducted in a single location within the Urban Agglomeration of Montréal;
The Financial Transaction must most exclusively cross a border:
- For a local client    transaction regarding a foreign exposure product
- For a foreign client    transaction regarding either a local or a foreign exposure product
The transactional decision process must be conducted within the Urban Agglomeration of Montréal and ;
It must hold a valid certificate and attestation issued by the Ministère des Finances du Québec.
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