Government Funding In Quebec

Quebec offers some of the most generous business funding programs in Canada, but most applications fail due to weak documentation. Mackisen CPA Auditors Montreal helps entrepreneurs navigate provincial grants and government-backed loans with CPA-prepared financials that satisfy every requirement.

Legal and Regulatory Framework
Taxation Act (Quebec) Section 34: Defines eligibility for corporate subsidies and compliance reporting.
Financial Administration Act (Quebec): Governs the management and distribution of provincial grants.
Income Tax Act (Canada) Section 20(1): Allows deduction of interest expenses on business loans.
CPA Canada Handbook Section 3290: Provides accounting standards for government assistance.
Investissement Québec Act: Outlines eligibility for provincial funding programs.

Key Court Decisions
Lincora Group v. Quebec (2019): Penalized a company for misreported grant use.
Beaudoin v. The Queen (2020): Upheld CRA’s right to verify how funding was applied.
Simard Beaudry Construction v. Canada (2019): Confirmed CPA-reviewed records ensure eligibility validation.
Tremblay Holdings v. The Queen (2021): Highlighted need for detailed documentation in subsidy programs.
Royal Bank v. Canada (2019): Reaffirmed the importance of CPA oversight in financial submissions.

Why CRA and Investissement Québec Verify Everything
Government programs require transparency in how funds are used. Incomplete or inconsistent records can lead to repayment demands or disqualification. Mackisen CPA Auditors Montreal ensures compliance, documentation accuracy, and financial alignment with funding terms.

Mackisen Strategy
Program Research — Identify available Quebec and federal programs for your industry.
Eligibility Analysis — Confirm qualification criteria and document requirements.
Application Preparation — Create CPA-verified projections and reports.
Expense Tracking — Maintain detailed accounting for every subsidy dollar.
Compliance Monitoring — Align grant use with conditions and deadlines.
Audit Readiness — Prepare full audit trails for government review.

Powering Client Needs and Public Funding
A Montreal manufacturer received a $200,000 Investissement Québec grant with Mackisen’s CPA-managed application. A Quebec tech firm qualified for R&D credits after CPA verification. A food producer avoided funding clawback after Mackisen implemented compliance tracking.
How Mackisen Clients Benefit

• Access to Quebec and Canada grant programs

• CPA-certified financial documents for eligibility

• Complete compliance and reporting support

• Audit protection and fund tracking

• Increased approval success rates

Common Questions
Do I need a CPA for grant applications? Strongly recommended for financial credibility.
Are grants taxable? Yes, depending on use—Mackisen structures reporting to minimize liability.
Can I apply for multiple programs? Yes, if criteria differ.
Does CRA audit funded businesses? Yes, for compliance verification.
Can Mackisen manage reporting post-approval? Absolutely—from tracking to audit documentation.

Why Mackisen
Mackisen CPA Auditors Montreal turns funding opportunities into secured success. Our CPAs guide you from application to reporting, ensuring full transparency and compliance.