TP-1029.8.36.VP-V: Tax credit for interest on a loan granted by a seller-lender and guaranteed by La Financière agricole du Québec

This is a refundable tax credit for interest paid on a loan granted by a seller after December 2, 2014 and guaranteed by La Financière agricole du Québec. The credit is equal to either 40% of the interest for 2016 that you paid, or 40% of your share of such interest paid by the partnership of which you’re a member.

You can claim this tax credit if you:

  • Operated a business (as a sole-proprietor or as member of a partnership) in Québec during 2016
  • Were granted a loan under an agreement entered into after December 2, 2014, and before January 1, 2020, through the Program for farm financing under the Act respecting La Financière Agricole du Québec
  • Aren’t exempt from income tax
  • Aren’t a Crown corporation or a subsidiary controlled by it and
  • Aren’t a trust of which one of the capital or income beneficiaries is:
    • a tax-exempt person or
    • a Crown corporation or a subsidiary controlled it

The tax credit is calculated on form TP-1029.8.36.VP-V: Tax Credit for Interest on a Loan Granted by a Seller-Lender and Guaranteed by La Financière agricole du Québec.

  

Where do I claim this?

Follow these steps in H&R Block's tax software to file your 2016 taxes:

Before you begin, make sure you tell us you lived in QUÉBEC on December 31, 2016.

  1. Under the PREPARE tab, click the OTHER icon. You'll find yourself here:

    OTHER_EN.jpg

  2. Under the OTHER DEDUCTIONS section, select Other Québec tax credits.

  3. Scroll to the bottom of the page and click Continue.

  4. When you arrive at the page for Other Québec tax credits, enter your information into the tax software.

 

Where can I learn more?

 

Back to Top