CRA indicates that a Quebec tax credit is received on the due date for the related return, or when a carryforward or carryback request is made for it

S. 53(2)(k) provides for the reduction in the ACB of a capital property by the amount of government assistance that the taxpayer “has received or is entitled to receive.” Regarding the synergy tax credit for Québec businesses ("CSEQ") provided under s. 776.1.38 of the Taxation Act, CRA considered that this time occurred (upon the taxpayer having made the claim in prescribed form) on the due date for the return for the year, assuming that the credit claimed did not exceed the maximum claim limit. To the extent this claim limit applied, CRA considered that the entitlement arose when the taxpayer filed a request to carry back or carry forward the amount to another taxation year.

Neal Armstrong. Summary of 2 November 2023 APFF Roundtable, Q.11 under s. 248(1) – disposition.