Ontario Interactive Digital Media Tax Credit (OIDMTC)
Description: Refundable tax credit for labour, marketing and distribution expenditures for the creation of interactive digital media products.
Funding Details: Refundable tax credit of 35 or 40% of qualifying labour and marketing & distribution expenditures; claimed when product development activities are complete/product is launched.
Eligible Expenditures: Direct development labour, marketing and distribution expenditures for the creation of interactive digital media products.
- Must be a Canadian corporation (that is Canadian or foreign-owned), that develops an eligible product
- Must be an interactive digital media product whose primary purpose is to educate, inform, or entertain, and that achieves its primary purpose by presenting information in at least two of: (i)text, (ii)sound and (iii) images. Types of interactive digital media products that may be eligible for the tax credit include but are not restricted to games, educational and informational products.
- All or substantially all of the product was developed in Ontario by the qualifying corporation
- The product is not used primarily for interpersonal communication
- The product is not used primarily to present or promote the qualifying corporation or any products they sell
Example of an OIDMTC Return
|Marketing and Distribution
|Total Qualified Expenditures
|Tax Credit (40%)
How NorthBridge Will Assist With OIDMTC and Other Funding Programs
NorthBridge has over 20 years of experience assisting companies with government funding programs. We will:
- Listen and discuss past, present and future project activities.
- Research and identify the appropriate and optimal government grant, tax incentive, loans, as well as private financing opportunities.
- Take a hands-on approach to the application process and address relevant program objectives and criteria.
- Become an in-house project manager for all types of government funding.
- Interview the key employees and ask specific questions in order to make the right funding decisions.
- Assist in writing the application and preparing all supporting documentation.
- Assist with government reporting requirements.
To arrange for a free, no obligation consultation with one of our government funding experts contact us at: email@example.com