Film and Video Tax Credit
This refundable provincial Corporate Income Tax credit is provided for eligible local film projects at a rate of 40% of eligible local labour costs, but may not exceed 25% of production costs.
Offered by Department of Finance
Amount
Refundable tax credit of 40% of eligible local labour costs, not exceeding 25% of production costs, to a corporation credit limit of $5 million for productions beginning on or after July 1, 2021
Quick eligibility check
Who can apply
Applicants must:
- be a corporation incorporated under the Corporations Act or an Act of the Parliament of Canada or of the legislature of a province and have a permanent establishment in the province,
- primarily carry on the business of film, television or video production,
- pay at least 25% of salaries and wages with respect to an eligible project in Newfoundland and Labrador to eligible employees (for work performed in the province),
- be producing an eligible project (a film television program or series or video program and the subject of the proposal is drama, variety, animation, children’s programming, music programming, an informational series or a documentary).
About the funding
This refundable provincial Corporate Income Tax credit is provided for eligible local film projects at a rate of 40% of eligible local labour costs, but may not exceed 25% of production costs. The 2005 provincial budget announced the replacement of two credit caps ($1 million per eligible project or $2 million per corporation) with a single corporation credit limit of $3 million. The credit limit was increased to $4 million in the 2013 provincial budget. Budget 2021 further increased this limit to $5 million for productions beginning on or after July 1, 2021.
Claimed through the Canada Revenue Agency on your corporate tax return.
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