Newfoundland and Labrador film and video industry tax credit
- Open continuously
Overview
Get a refundable tax credit of 40% when you hire local labour or 25% of total production costs for films produced in the province.
At a glance
Funding available
- Optimize production processes
- Maximum amount : 5,000,000 $
- Up to 40% of project cost
- Open continuously
Eligible candidates
- Arts, entertainment and recreation
- Newfoundland and Labrador
- For-profit business
- All revenue ranges
- All organization sizes
- All groups
Next Steps
Activities funded
The Film and Video Tax Credit supports projects focusing on the production of local film and video content in Newfoundland and Labrador. These projects encompass various stages of film production, ensuring significant local employment and economic contribution to the region's film industry.
- Production of local film and video projects.
- Engagement of local labor for film production activities.
- Execution of financial and strategic planning for film projects.
- Completion and reporting of production financial statements and cost reports.
Eligibility
Who is eligible?
This grant is aimed at corporations involved in the local film and video industry, focusing on productions employing provincial talent and contributing to the local economy. However, the specific evaluation and selection criteria for projects under this tax credit beyond the eligibility conditions are not detailed in the provided context.
Eligible expenses
This grant opportunity is designed to support film and video production corporations that engage in local projects by offering a refundable tax credit. Although the context does not explicitly list eligible projects or activities, it implies a focus on film and video productions involving local labour.
- Film production involving local labour resources.
- Video production engaging provincial talent and technicians.
- Collaborative productions that promote regional stories or settings.
- Projects exploring innovative filming techniques using local expertise.
Eligible geographic areas
The Film and Video Tax Credit is catered to support corporations engaged in film projects within the provincial jurisdiction. The focus is on productions employing residents and incurring costs locally as dictated by the development corporation.
- Newfoundland and Labrador.
Additional information
Here are additional relevant details for this tax credit:
- The tax credit applies at a rate of 40% of eligible local labor costs but is capped at 25% of the total production costs.
- The current corporation credit limit of $5 million is for productions beginning on or after July 1, 2021.
- There is no longer a restriction on the production corporation and any associated corporations having assets less than $25 million.
- The credit certificate must be attached to the T2 return for the corporation to claim the tax credit.