Book Publishing Tax Credit
MN, Canada
Manitoba tax credit for book publishers
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Tax Credits
grant_single|eligibleIndustries
- Information and cultural industries
grant_single|grantors
- Government of Manitoba
- Sport, Culture and Heritage (MN)
grant_single|status
grant_card_status|open
grant_single_labels|preview
Refundable tax credit of 40% of Manitoba book publishing labour costs (up to a maximum of $100,000 per year), including salaries for editing, design and project management; fees to freelancers for editing, design and research; artwork; development of prot
grant_single_labels|projects
The Manitoba Manufacturing Investment Tax Credit supports businesses by providing an eight per cent tax credit for acquiring qualified plant, machinery, and equipment for first-time use in manufacturing or processing in Manitoba.
- Acquiring qualified plant for manufacturing or processing in Manitoba
- Purchasing machinery for first-time use in Manitoba for manufacturing or processing
- Investing in equipment under class 43.1 and class 43.2 for energy production and efficiency
grant_single|admissibleProjectsExample
$97,500
Winnipeg
Implementation of geothermal heating system for a social enterprise
$112,000
Montreal
Procurement of new machinery for a sole proprietorship's manufacturing unit
$100,000
Toronto
Acquisition and installation of solar thermal heating equipment for a new manufacturing plant
$100,000
Vancouver
Purchase of biomass fuel energy equipment for a co-op farm
grant_single_labels|admissibility
The eligibility criteria for the Manufacturing Investment Tax Credit include acquiring qualified plant, machinery, and equipment for first-time use in manufacturing or processing in Manitoba. Additionally, the equipment must fall under specific asset classes that promote energy efficiency.
- Acquisition of qualified plant, machinery, and equipment for first-time use in manufacturing or processing in Manitoba.
- Eligible equipment must fall under asset class 43.1, which includes equipment used to produce energy from renewable sources and equipment that uses energy more efficiently.
- Class 43.2 assets also qualify for the credit.
- Corporations must earn the tax credit based on eligible property acquired within stipulated dates.
grant_eligibility_criteria|who_can_apply
Yes, there are eligible types of companies for the Manitoba Corporate Tax Credits. Below is a list of corporate tax credits available to different types of businesses in Manitoba:
- Manufacturing businesses: Manitoba Manufacturing Investment Tax Credit
- Film and video production companies: Manitoba Film and Video Production Tax Credit
- Interactive digital media companies: Manitoba Interactive Digital Media Credit
- Book publishers: Book Publishing Tax Credit
- Printing companies: Cultural Industries Printing Tax Credit
- Research and development firms: Manitoba Research and Development Tax Credit
- Businesses providing paid work experience: Paid Work Experience Tax Credits
- Community enterprises: Community Enterprise Development Tax Credit
- Small businesses seeking venture capital: Small Business Venture Capital Tax Credit
- Companies with employee share programs: Employee Share Purchase Tax Credit
- Manufacturers and purchasers of green energy equipment: Green Energy Equipment Tax Credit
- Corporations creating child care centers: Child Care Centre Development Tax Credit
grant_eligibility_criteria|who_cannot_apply
There are certain types of companies that are not eligible for the Manufacturing Investment Tax Credit in Manitoba. Specifically, businesses engaged in activities other than manufacturing or processing in Manitoba might not qualify for this grant.
- Companies not involved in manufacturing or processing in Manitoba
- Businesses with activities unrelated to the grant's specified criteria
grant_eligibility_criteria|eligible_expenses
Yes, there are eligible expenses for this grant. The credit is aimed at promoting renewable energy investments and addresses various types of equipment.
- Geothermal heating equipment (15% credit)
- Solar thermal heating equipment (10% credit)
- Biomass fuel energy equipment installed and used in a business in Manitoba (15% credit)
grant_eligibility_criteria|zone
- Manitoba
grant_single_labels|criteria
There are evaluation and selection criteria for this grant. The Manufacturing Investment Tax Credit in Manitoba involves criteria such as the type of equipment acquired, the percentage of tax credit earned, and the application process.
- Type of qualified plant, machinery, and equipment acquired for manufacturing or processing
- Percentage breakdown of refundable and non-refundable tax credits
- Application process administered by Canada Revenue Agency
- Specific details on applying for the credit
grant_single_labels|register
- Step 1: Assess Eligibility
- Step 2: Collect Documentation
- Step 3: Complete Application Form
- Step 4: Submit Application to Appropriate Office
- Step 5: Await Confirmation and Follow-Up
- Step 6: Submit Final Report and Claim
grant_single_labels|otherInfo
Additional information about the grant includes several special conditions and contact details for inquiries:
- Approved corporations can earn a maximum 100% tax credit.
- Non-residents working on eligible film productions have specific training requirements for Manitoba residents.
- Eligible co-op students must be placed in employment linked to their studies for at least ten weeks.
- Production of three qualifying films in two years provides a frequent-filming bonus.
- The qualifying R&D tax credit has variable refundability based on the corporation's status and expenses.
- Direct contact and support details for each tax credit are provided, assisting applicants with inquiries and submissions.
- Environmental sustainability bonuses apply to certain tax credits like the Book Publishing Tax Credit.
grant_single_labels|contact
204-948-2115
Apply to this program
Manitoba Corporate Tax Credits Overview
Manitoba offers a range of corporate tax credits to support businesses across various industries, from manufacturing to film production. These tax incentives are designed to stimulate economic growth, encourage innovation, and promote job creation within the province.
Understanding Manitoba Corporate Tax Credits: A Comprehensive Guide
Manitoba provides numerous corporate tax credits aimed at fostering business development, innovation, and job creation within the province. Below is a detailed explanation of the various tax credits available to businesses operating in Manitoba.
1. Manitoba Manufacturing Investment Tax Credit
The Manufacturing Investment Tax Credit supports businesses by offering an 8% tax credit (7% refundable and 1% non-refundable) on qualified plant, machinery, and equipment acquired for the first time use in manufacturing or processing within Manitoba. This program helps reduce the tax payable by corporations and encourages investment in new manufacturing technology.
Corporations earn either a 9% tax credit for eligible property acquired between April 12, 2017, and before July 1, 2019, or an 8% tax credit for eligible property acquired on or after July 1, 2019. Unused credits are eligible for a 10-year carry-forward. The tax credit also covers energy-efficient equipment under Class 43.1 and 43.2.
2. Film and Video Production Tax Credit
Manitoba offers a refundable tax credit for film and video productions based on eligible salaries paid to Manitoba residents and qualifying non-resident employees. The basic tax credit rate is 45%, with additional bonuses bringing the potential maximum to 65%. Qualification for the additional benefits includes frequent filming, having a Manitoba resident as a producer, and performing work in rural and northern areas.
Production companies can choose between claiming the tax credit based on eligible labor costs or a 30% tax credit based on production costs incurred in Manitoba. The tax credit is processed along with the company's annual income tax return, and certificates are provided by Manitoba Film and Music.
3. Book Publishing Tax Credit
The Book Publishing Tax Credit is designed to support the Manitoba book publishing industry by providing a refundable tax credit equal to 40% of eligible Manitoba labor costs. These include non-refundable author advances and remuneration for various publishing activities within the province. The maximum claimable tax credit per publisher is $100,000 annually.
To qualify, a publisher must be primarily engaged in book publishing and have a permanent establishment or residency in Manitoba. They must also have recently published at least two qualifying books that are Canadian-authored. An additional 15% bonus can be earned if the book is printed on paper with at least 30% recycled content.
4. Cultural Industries Printing Tax Credit
Manitoba printers can benefit from a 35% refundable Cultural Industries Printing Tax Credit on salaries or wages paid to employees working in the printer’s book printing division. Eligibility requires at least 90% of the book's content to be new material, and for certain books, at least 65% must be text. The publisher must not be related to the Manitoba printer, and the book must be available for sale through an established distributor.
5. Research and Development Tax Credit
This tax credit encourages scientific research and experimental development in Manitoba by offering a 20% tax credit on eligible expenditures made before April 12, 2017, and a 15% tax credit for expenditures made after that date. The credit is refundable for eligible expenditures incurred by a corporation with a permanent establishment in Manitoba and conducting R&D under a contract with a Manitoba research institute.
The tax credit has a 20-year carry-forward and a three-year carry-back period. Manitoba Budget 2010 extended the refundability of this tax credit to in-house R&D expenditures, offering refundability for one-quarter of the credit starting in 2011 and one-half from 2012 onwards.
6. Paid Work Experience Tax Credits (PWETC)
The PWETC offers fully refundable tax credits to employers providing paid work experience to trainee employees and recent graduates. The credit covers a percentage of the wages and salaries paid to these employees, net of other government funding. It includes various components, such as incentives for hiring high school and post-secondary co-op students, apprentices, and journeypersons.
The tax credits aim to promote more paid work and on-the-job training opportunities for students and apprentices in diverse fields, including health care, child care, business, and hospitality. Enhanced and expanded benefits are available, including a refundable tax credit worth 25% of eligible wages for high school apprentices and 15% for post-secondary co-op students and graduates.
7. Green Energy Equipment Tax Credit
This refundable tax credit promotes the production and purchase of machinery and equipment used to generate renewable energy in Manitoba. It offers a maximum credit of 15% for geothermal heating equipment and biomass fuel energy equipment and a 10% credit for solar thermal heating equipment.
8. Child Care Centre Development Tax Credit
To stimulate the development of licensed child care centers at workplaces, Manitoba introduced a refundable Child Care Centre Development Tax Credit. It provides a total benefit of $10,000 per new infant or preschool space created, claimable over five years. The current limit is 682 spaces under this program, with the possibility of future increases.
Manitoba’s corporate tax credits are designed to meet the varying needs of businesses within the province. By offering these incentives, Manitoba aims to foster economic development, encourage innovation, and create job opportunities for its residents. For more detailed information on any of these programs, it's recommended to contact the relevant Manitoba government offices or visit their official websites.
