Ontario Creates (formerly the Ontario Media Development Corporation) and the Canada Revenue Agency (CRA) administer the Ontario Interactive Digital Media Tax Credit (OIDMTC) to Ontario-based digital media businesses as a refundable tax credit towards eligible Ontario labour, marketing, and distribution expenses.
- Amount: Up to 40% of eligible Ontario labour expenditures and marketing and distribution expenses for internal activities and 35% for fee-for-service arrangements. 35% coverage is applicable to all Ontario digital game corporations who incur a minimum of $1 million of eligible Ontario labour costs and fee-for-service costs over a 3-year period. No limit for the program overall, however eligible marketing and distribution expenses are capped at $10k per non-specified product.
- Timeline: Record labour budgets for the previous year, as well as eligible marketing and distribution expenses incurred 24 months prior to the completion of the product and 12 months following the completion of the product.
- Eligibility: Canadian corporations that develop interactive digital media and are established and operate within Ontario, filing Ontario tax returns.
Top Ontario Interactive Digital Media Tax Credit (OIDMTC) Resources
- Ontario Interactive Digital Media Tax Credit (OIDMTC) Overview Blog: Read up on the details of this tax credit created to help support the development, marketing, and distribution of Ontario-made interactive digital media.
- Ontario Interactive Digital Media Tax Credit (OIDMTC) Eligibility Criteria Blog: Find out if your business’ activities are eligible for a tax credit via OIDMTC with this article on eligibility factors.
Recent Ontario Interactive Digital Media Tax Credit (OIDMTC) News:
- Ontario Interactive Digital Media Tax Credit
- Ontario Interactive Digital Media Tax Credit: 2015 Budget Changes
- Maximize Funding for Digital Media with Grants, Loans & Tax Credits
- Benefits of the Ontario Interactive Digital Media Tax Credit
