How to Benefit from the Ontario Interactive Digital Media Tax Credit (OIDMTC)
If you are an Ontario business that developed interactive digital media products, the OIDMTC can assist you with labour, marketing and distribution expenditures.
Is My Company Eligible?
Canadian companies that develop eligible products at a permanent Ontario establishment and file an Ontario tax return are eligible for the OIDMTC. Eligible products are broken down into the following categories:
1. Non-specified products
2. Specified products
3. Eligible digital games developed by a qualifying digital game corporation
4. Eligible digital games developed by a specialized digital game corporations
The produced digital media product must be intended to educate, inform, or entertain and must achieve its goal through two of the following: text, sound and images.
Depending on the time period and company category, funding can cover anywhere from 20-100% of expenses related to wages and salaries, remuneration, and marketing & distribution.
To begin the application process and start subsidizing your company’s operations, please contact Mentor Works today. And to stay up-to-date on all the ways your company can receive funding assistance, please follow us on Twitter, Facebook, and LinkedIn.