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. 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 corporation must also pay at least 25% of its
salaries and wages to residents of the province. The 2005 provincial budget
also announced the removal of the restriction that the production
corporation, together with any associated corporations, must have less than
$25 million in assets. |
All material copyright of the Government of Newfoundland and Labrador. No unauthorized copying or redeployment permitted. The Government assumes no responsibility for the accuracy of any material deployed on an unauthorized server. Disclaimer/Copyright/Privacy Statement |