Amount: Up to $100,000
A refundable tax credit, defined by the amount of the credit minus any Ontario taxes payable will be paid to qualifying corporations. The program is designed to reduce the cost for developing interactive digital media products. There is no limit on the amount of entitled labour expenditures that may qualify and there are no per project or annual corporate limits on the amount of the interactive digital media tax credit which may be declared.
Eligibility Criteria: Ontario Interactive Digital Media Tax Credit (OIDMTC)
- Must be Canadian Corporation located in Ontario;
- Must develop an eligible digital product with the main intent to educate users under the age of 12, or entertain the user
- Annual gross revenues must not exceed $20 million;
- Total assets must not exceed $10 million.
- Minimum of 80% of total labour costs for the product would have to relate to services rendered in Ontario
- Minimum of 25% of total labour costs for the product would have to be paid to employees of the applicant company for services personally rendered in Ontario
Eligible Costs: Ontario Interactive Digital Media Tax Credit (OIDMTC)
- Salaries, wages, and subcontractors’ fees related to the development of digital products:
- interactive digital media product whose primary purpose is to educate, inform, or entertain, and that achieves its primary purpose by presenting information in at least two of: (i)text, (ii)sound and (iii) images, e.g.
- educational products
- informational products
- Complete Ontario Interactive Digital Media Tax Credit Application
- Pay Application Fee
- Corporate Tax Return
- Obtain Certificate of Eligibility from OIDMTC
Examples of the Projects Approved by Ontario Interactive Digital Media Tax Credit (OIDMTC):
Stay tuned for the list of the projects approved by Ontario Interactive Digital Media Tax Credit (OIDMTC).