This spring, Quebec experienced unprecedented flooding and many residences were seriously damaged.
New compensation program
The Quebec government recently announced a refundable tax credit to provide financial assistance to owners of secondary residences. This credit is in addition to the credit for damages to an individual’s primary residence.
Potential credit of up to $18,000
Under the new two-part program, owners can have their secondary residence repaired and be entitled to a refundable tax credit of up to $18,000.
For more information on this tax credit, click here to read the online article!
Sylvain Moreau is a Tax Partner and columnist for the Argent – Dans vos poches column in the Journal de Montréal and Journal de Québec, Québecor’s two major newspapers.
11 Jul 2017 | Written by :