Newfoundland and Labrador Interactive Digital Media (IDM) Tax Credit
Effective January 1, 2015, eligible companies developing eligible IDM products in the province may avail of the NL IDM tax credit. This credit will be 40% of qualifying expenditures.
Offered by Department of Finance
Amount
Refundable tax credit of 40% of qualifying expenditures (eligible salaries plus 65% of eligible remuneration paid), limited to $40,000 per eligible employee per year and $2 million per company, or group of associated companies, in respect of all taxation years ending in a calendar year
Quick eligibility check
Who can apply
Applicants must:
- be a corporation developing an interactive digital media product,
- be primarily carrying on the business of interactive digital media development,
- have a permanent establishment in the province of Newfoundland and Labrador,
- be a taxable Canadian corporation,
- hold a valid registration certificate under the IDM program,
- be incorporated under the Corporations Act or an Act of the Parliament of Canada or another Canadian province.
About the funding
Funding is 40% of qualifying expenditures.
Eligible expenditures include eligible salaries and 65% of eligible remuneration.
The credit value is limited to $40,000 per employee per year and $2 million per company, or group of associated companies, per year.
Claimed through the Canada Revenue Agency on your corporate tax return.
