Archive for the ‘Digital Gaming’ Category

Canada Media Fund Experimental Stream Applications Due

The final 2015-2016 intake for the Canada Media Fund’s Experimental Stream (Production) will be closing on September 22, 2015, while the Development and Marketing & Promotion segments will be closing on October 6, 2015.

The Experimental Stream of the Canada Media Fund (CMF) is designed to support Canadian interactive digital media content, including application software, which demonstrates innovation in the field. Eligible projects may qualify under one of the three aforementioned segments, and the awarding of funding is processed through a jury of renowned digital pioneers and experts.

The Experimental Stream is funded through an investment of $27.0 million for English projects and $13.0 million for French projects in the 2015-2015 fiscal year. This new round of funding comes with a few significant changes to the program, such as:

  • An increased maximum overall cap contribution from CMF, up to $1.2 million from $1.0 million;
  • A decreased maximum contribution from CMF for Development projects, down to $400 thousand from $300 thousand;
  • An increased maximum contribution for Production projects, up to $1.2 million from $1.0 million;
  • An increased focus on previous success working with the CMF on eligible projects;
  • An increased focus on meaningful participatory experience as part of the definition of “interactivity”; and
  • A varied Development recoupment policy shifting all applications to a uniform model which allows for CMF advances to be converted into recoupable investments in the production.

Stay tuned for further updates on the Canada Media Fund.

Digifest 2015- Canada’s Digital Festival

Digifest, Canada’s premier digital festival, will take place from May 7th to May 9th 2015 at the Corus Quay building in Toronto, Ontario. This event showcases digital media, art, and technology content, with everyone from architects to app developers to entrepreneurs coming together to share their works and experiences within the digital media industry.

Digifest was founded in 2002 by Luigi Ferrara, Dean of the Centre for Arts & Design at George Brown College in Toronto, with the festival originally focusing on digital culture and design. In 2011, George Brown expanded the scope of the festival to include academia, industries within the digital media realm, and the public in order to celebrate digital creativity. For individuals interested in seeing innovative projects being developed and seeing students from Canadian academic institutions exhibit their projects, attending this event would be an excellent opportunity.

NorthBridge Consultants has over 20 years of experience assisting companies within the digital media industry to maximize the amount they receive from government funding programs, most notably the SR&ED and OIDMTC tax credits. Please do not hesitate to contact one of our Client Managers to see how we can help grow your business.

The 2015 Ontario Provincial Budget: Digital Media Review

In the 2015 Ontario Budget, published by the Ministry of Finance, the Government of Ontario announced a review of the Ontario Interactive Digital Medial Tax Credit program (OIDMTC). As a result of this review, the government has re-stated and re-emphasized the program to focus on interactive entertainment products, and on educational products for children under the age of 12. Under the reviewed OIDMTC program, ineligible products would include news applications, search engines, social media platforms, and functional databases.

Ontario also proposed an amendment to the requirement that at least 90% of the digital media product be developed in Ontario by the company applying to the OIDMTC program. This requirement will be replaced with new stipulations:

  1. 80% of total labour costs for eligible products must be attributable to qualifying salaries and wages as well as qualifying remuneration (contract payments to Ontario freelancers operating either as sole proprietors or through personal service corporations).
  2. 25% of total labour costs for eligible products must be attributable to wages of the corporation’s employees.

These rules will not apply to projects that were started before April 24th, 2015.

In the budget, it was also reported that Ontario provided approximately $335 million between 2014-2015 to the film and television industry through the Ontario Film and Television Tax Credit (OFTTC), the Ontario Production Services Tax Credit (OPSTC), and the Ontario Computer Animation and Special Effects Tax Credit (OCASE). Moving forward, the OPSTC will be reduced from 25% to 21.5% for expenditures incurred after April 23rd, 2015, and the OCASE will be reduced from 20% to 18% for expenditures incurred after the same time. Despite the reductions, both programs are noted to remain competitive compared to other Canadian jurisdictions.

 

 

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NorthBridge Spring 2015 Newsletter

NorthBridge Consultants’ Spring 2015 Newsletter is out!

Topics covered include:

BCIDMTC and SR&ED Tax Credits

The Scientific Research and Experimental Development (SR&ED) tax credit offers assistance to digital media companies who are engaging in experimental development and, through this work, overcoming technological obstacles. By contrast, the Interactive Digital Media Tax Credit (IDMTC) provides funding for the production and development of interactive digital media which will be released on the public market. Earlier this year, we presented the case for pairing up SR&ED with the Ontario Interactive Digital Media Tax Credit (OIDMTC). However, is this also possible in other provinces such as British Columbia?

Can BC digital media companies take advantage of SR&ED and the British Columbia Interactive Digital Media Tax Credit (BCIDMTC) together? The answer is…yes! If your company pays BC provincial taxes, and if your company only claims federal SR&ED credits, you may be eligible to receive tax credits from both programs. If you have offices in both Ontario and BC, it is possible to apply for SR&ED, OIDMTC, and BCIDMTC, as long as eligible projects are taking place in each province. In BC, the validity of eligible BCIDTMC projects may have to be proven through a Principal Business Test, which assesses what kind of work and how much work your business conducted in BC. As you may be eligible for 35% of your SR&ED costs covered through federal tax credits, 35% of your interactive digital media development costs incurred in Ontario funded through refundable OIDMTC credits, and a further 17.5% of your interactive digital media development costs incurred in British Columbia awarded as refundable tax credits through BCIDTMC, applying for multiple programs can mean more resources can be put toward your business goals.

Our business analysts and technical writers here at NorthBridge will work with you and your company to determine which funding program best suits your business needs which claims will make the largest impact to your bottom line. NorthBridge can offload the work from you, allowing you to focus on the development of your product and business.

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