You are receiving a call from Revenu Québec?
You don’t have to worry... if you know how to proceed!
You can claim the tax credit for film productions only if you sent a previous request for a decision to SODEC before the end of the production company fiscal year. Eligible expenses must be submitted to Revenu Québec no later than 18 months following the year-end.
You must have paid expenses, account payables and accrued liabilities when transmitting the corporate tax return. Do not fail to document estimations that you made.
Remember that each production must be accounted for separately. The production company must be controlled by Quebec taxable entities or Quebec taxpayers that filed personal tax returns.
During the audit, the onus is on the taxpayer. Here is an advice: work closely with the auditor. If there is a problem, contact his supervisor or consult a public accountant.
You disagree with the tax authorities’ decisions? You have 90 days from the date of the Notice of Assessment to file an objection. Your public accountant could be your strongest ally…
Line Doyon CPA, CA